Whittman-Hart made a name for itself through strategic acquisitions and mergers with top firms. The company's first major acquisition was of the marketing and advertising firm, Lippincott & Margulies.
This move helped Whittman-Hart expand its services and reach a wider client base. The acquisition brought in new talent and expertise, further solidifying Whittman-Hart's position in the industry.
In addition to the Lippincott & Margulies acquisition, Whittman-Hart also merged with the technology firm, Digital Equipment Corporation's consulting arm. This merger gave Whittman-Hart access to new technologies and a stronger presence in the technology consulting market.
The combination of these strategic moves positioned Whittman-Hart as a major player in the consulting industry.
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Whittman Hart Acquisitions
WhittmanHart, Inc. acquired Insight Interactive Group, Inc. in 2005. This acquisition helped deepen WhittmanHart's vertical market focus.
Insight Interactive Group brought additional media solutions and expertise to the table, particularly in online media and search engine marketing and services.
Company Mergers
Whittman-Hart's company mergers were a significant part of its history. The company merged with USWeb/CKS, a California-based web consulting firm, in December 1999.
The deal was valued at $5.7 billion in company stock, with USWeb shareholders owning 57% of the merged company. The new company, MarchFIRST Inc., was formed on March 1, 2000, with 9,000 employees worldwide.
MarchFIRST was the world's largest Internet services company at the time, with annual sales of about $500 million. Robert Shaw, the CEO at USWeb/CKS, became the company's chairman, while Bernard continued as CEO.
The company's fortunes began dropping quickly after the dot-com boom ended. Its stock price dropped nearly 60% in October 2000 after a third-quarter loss of $437 million.
Francisco Partners LP invested $150 million in the company in December 2000, acquiring a 32% share. However, the company continued to struggle, missing earnings expectations again in February 2001.
By March 28, 2001, the company stock was trading for $0.16 per share. The company eventually sold most of its assets to Divine for $120 million, but the company went bankrupt in 2003.
In 2005-2006, WhittmanHart acquired numerous organizations, including Ohio-based Infinis Inc and Philadelphia-based Insight Interactive Group Inc.
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