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Print Edition StoriesCommunispace Inc. has sold to Diversified Agency Services (DAS), a division of Omnicom Group Inc. (NYSE: OMC), in a merger and acquisition deal for undisclosed terms, the companies reported in a press release this morning.
Communispace CEO and founder Diane Hessan will continue to run the company. No word as to whether the company will retain all of its 200-plus employees, most of whom are based in its Watertown headquarters.
Founded in 1999, Communispace raised at least $17 million in venture capital from Dominion Ventures, Women’s Growth Capital and a number of angel investors. The company has been profitable for some years, with revenue reportedly near $40 million and growing fast.
In 2007, the Boston Business Journal profiled Hessan, reporting how she founded Communispace after writing a 1995 book, “Customer Centered Growth.”
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