CHICAGO: Ketchum has doubled the size of its Chicago presence by
snapping up hot property b-to-b tech firm Corporate Technology
With revenues of dollars 9 million last year, CTC is on track to provide
more than a quarter of Ketchum's overall technology revenues, which were
dollars 30 million in 2000.
With the addition of three-year-old CTC's 60 employees, Ketchum will now
have 130 employees in Chicago, and 290 technology practitioners in
Staffers at the agency, to be renamed Ketchum/Corporate Technology
Communications, will retain their titles.
Lorraine Thelian, Ketchum's senior partner in charge of North America,
said CTC acquisition talks began only three months ago.
"We still have a long way to go in tech, but we see CTC providing
technology capability and expertise well beyond Chicago," said
Paul Rand, CTC founder and president, said Ketchum was chosen over a
number of other options to grow his business.
"We spoke to a number of VCs, investment bankers and acquisition
partners, and even considered growing organically," said Rand. "But
bringing Ketchum into our fold gives us a great brand name, a global
network, exceptional people and exceptional products and services."
Ketchum tech clients include Cingular, Nokia, PowerTV, Phillips, Webvan
and IBM. Both Ketchum and CTC said there were no client
CTC, which also has an office in Austin, TX, is Ketchum's third
acquisition this year.