InnerWorkings Acquires DB Studios, Lowers Full-year Revenue Forecast
Largest customer's asset sale results in significant reduction in scope of work; company also announces acquisition of DB Studios.
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"While we are disappointed by the revenue loss from a major client, we understand this risk presents itself when a client undergoes a change in control," said Eric Belcher, CEO of InnerWorkings. "We look forward to continuing to deliver excellent service and savings for them, albeit in a new reduced role. Importantly, our new business pipeline remains strong and we fully expect to achieve our new business growth targets for the year."
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