According to Creativity, an advertising and marketing industry publication, New York-based Psyop, the much lauded multimedia design firm with acclaimed works such as Happiness Factory for Coca-Cola, just agreed to be acquired by Fortissimo Capital, an Israeli private equity firm for US$ 10 million in cash and US$ 20 million in stock. Though Psyop declined to comment on the acquisition, under the new deal, the involved parties will receive an additional $14 million in cash and stock if set goals are reached within 3 years. In addition, Psyop will set up a R/D division within Israel to focus on proprietary software and tools. The deal will be finalize in June.
