The move is reportedly a cost-cutting measure on the part of Interpublic--the third-largest advertising agency--as online ad spending slows down. Shares of Interpublic have fallen 12% in the past year.
Zentropy, which currently leases offices here at One Cambridge Center, is merging with MRM Worldwide. The new company, MRM Partners Worldwide, will reportedly have revenues of $215 million with $68 million coming from Zentropy. Zentropy did not return calls by presstime and it is unclear whether the company plans to sublet its space here, adding to this area's increasing availability rates.
Michael Tey, 43, president of Zentropy, will be president of the Zentropy arm of MRM. It operates as a unit of Interpublic's McCann-Erickson WorldGroup.
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