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June 8, 2006
That Ice Rocket Acquisition? Never Mind
According to Andy Beal, Think Partnership is calling off its acquisition of blog search engine IceRocket.com. The deal got lots of play when it was first announced, given Mark Cuban's backing of the search engine.
Not a dramatic surprise, I suppose, given Think's history of backing out of deals. In one instance, the company agreed to acquire Crystal Reference Systems but backed out. Crystal was later acquired by Ad Pepper Media. Think also intended to buy Proceed Interactive only to call off that deal.
I tried to confirm the Ice Rocket call-off by contacting corporate communications guy Xavier Hermosillo, but got no response.
Think recently shed its chairman and its CEO, moved from Chicago to Florida and said they would focus on operations rather than acting like a holding company. Another board member left earlier this week.
Posted by Pamela Parker at June 8, 2006 12:57 PM
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