Sbi Group to Get $160 Million for Sale of Sbi.Razorfish

Summary

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Any day now the founders and investors of Salt Lake City-based SBI Group will have a few more coins in their collective pockets, as will the company itself. How much, you ask? About $160 million worth.

That's the price SBI agreed to accept for selling off its SBI.Razorfish interactive advertising agency to Seattle-based aQuantive (Nasdaq: AQNT) late last month.

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Extract

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Sbi Group to Get $160 Million for Sale of Sbi.Razorfish

Slated to close before the end of July, aQuantive will pay SBI $75 million in convertible notes in AQNT and approximately $85 million in cash upon closing of the transaction.

SBI Group was formed initially as SolutionBank back in 1997 with financial backing from Park City-based ...

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