AdWeek: Omnicom Confirms Agency.com Acquisition
Revolution: Omnicom Group Buys Back Digital Shop Agency.com
Marketwatch: Omnicom Net, Revenues Rise in Q2

This morning, in a Q2 earnings conference call, behemoth agency holding company Omnicom Group confirmed its acquisition of Agency.com from Seneca Investments. Terms of the deal were not disclosed. Previously reported here, the acquisition follows Omnicom's purchase of another Seneca company, Organic, for $106 million.

The deal is a bit of a buyback, as Omnicom two years ago transferred its original 35 percent stake in Agency.com to Seneca, a partnership of both Omnicom and venture firm Pegasus Partners II. Pegasus took the publicly traded company private and continued to add other interactive services companies, like Red Sky and Ntercept to the Agency.com brand before the firm realized the dot.com bubble had already burst.

Such fickle property ownership, however, has not impacted Omnicom's bottom line. Its reporting yesterday on Q2 performance shows it's doing something right, with net income of $190.7 million, 2 percent from the same period last year, and worldwide revenues of $2.15 billion, up 12.2 percent from the same period in 2002.