Razorfish Merges with Europe's Spray Network;

Razorfish made another move this week by merging with the European-based Spray Network, according to the Silicon Alley Reporter.

The merger creates a combined international firm with 350 employees and revenues projected at more than $70 million in 1999. Financial details were not disclosed.

Razorfish has been on an acquisition binge lately, having recently acquired CHBI, Avalanche, Plastic, and media.

Jeff Dachis, the co-founder of Razorfish will remain president/CEO and Per Bystedt, the co-founder and CEO of Spray Network, will become chairman of the board. Craig Kanarick, Razorfish’s other co-founder, will continue to serve as “chief scientist” and will also be vice-chairman of the board.

Kanarick, who has reportedly been spending a lot of time overseas, was quoted as saying that Razorfish pursued the relationship because “it makes sense for both of our organizations to keep growing. We have been friends with Spray since the companies started. Spray has the same philosophy as we do, the same long-term vision.”

Spray will be known as Spray Razorfish, before becoming simply Razorfish. The deal will not effect Razorfish Studios, which is now a separate operating company.

Spray Network, founded in 1995, operates offices in Stockholm, Oslo, Helsingfors, Hamburg and San Francisco. Clients include Hennes & Mauritz, Electrolux, Nokia and TV4. Razorfish clients include Charles Schwab, CBS, Microsoft and The Smithsonian Institution.