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Second Buy for Cable
Fledgling MR group Cable & Co. Worldwide, Inc. has agreed to acquire New Jersey-based INmarketing Group, Inc., a company providing hi-tech on-line incentive and recognition applications, for a little over $6.1m.
Cable made its first research buy, Quantum Research Services Inc., earlier this month (www.mrweb.com/drno/news7556.htm ). Quantum, which trades as Aspen Media and Market Research, provides consumer research services and b2b circulation and research services for telecoms, automotive, healthcare, banking and cable industries.
INmarketing's methods include continuing program and feedback analysis. In the year ending Dec 31 2007 it expects adjusted, unaudited EBITDA of c. $1.2m on sales of approximately $12 million. Cable will pay half the $6.1m in cash at the closing and the balance in the form of a promissory note for its own stock. The acquisition is subject to the usual conditions and is expected to be closed around January 2008.
Gary Stein, President of Cable, says the two purchases have 'great synergy' and will give the group revenues in excess of c.$17m and an adjusted EBITDA of approximately $1.6m. 'We are looking forward to growing both of these companies along with further acquisitions to build value for our shareholders'.
Quantum is online at www.aspenonnet.com , and Inmarketing at www.inmarketinggroup.com.
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