BM buys stake in Net broadcaster

WASHINGTON, DC: Burson-Marsteller has acquired a minority interest in Streampipe.com, an Alexandria, VA-based company that provides live Internet broadcast services. The investment is Burson’s first in an Internet technology provider.

WASHINGTON, DC: Burson-Marsteller has acquired a minority interest in Streampipe.com, an Alexandria, VA-based company that provides live Internet broadcast services. The investment is Burson’s first in an Internet technology provider.

WASHINGTON, DC: Burson-Marsteller has acquired a minority interest

in Streampipe.com, an Alexandria, VA-based company that provides live

Internet broadcast services. The investment is Burson’s first in an

Internet technology provider.



While it’s quite common for agencies to crow about their ’Internet

savvy’ and ’Web capabilities,’ it’s rare that an agency backs up the

talk with a significant investment in a site like Streampipe. The deal

was reportedly in the works for nine months, when Burson first

approached the company after being favorably impressed by Streampipe’s

Internet broadcasts for clients like Qualcomm and American Home

Products.



Both Streampipe and Burson declined to reveal terms of the

agreement.



A spokesperson for the privately held Streampipe, however, said the

company will be issuing voting and non-voting stock, and that Burson

will receive some of each.



’There is a natural affinity between the two companies,’ said Burson CFO

Kurt Krauss.



The deal further ups the resources of Burson’s hi-tech practice,

bolstered last year by the purchase of dollars 1.5 million tech shop

Hart Cooper & Partners (PRWeek, Aug. 2, 1999).



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