TMP Worldwide to Acquire Stackig Advertising
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TMP Worldwide, a provider of traditional and online career solutions and a yellow page advertising agency, said it has agreed to acquire Stackig Advertising and Public Relations, in a pooling transaction for approximately 485,000 TMP Worldwide shares. TMP closed yesterday at $29 11/16, which would value the deal at more than $14 million.
Stackig, a high-tech communications agency with business interests in recruitment advertising, marketing communications, public relations, and Internet communications, reported commissions and fees of approximately $11 million last year.
Headquartered in McLean, VA, Stackig's clients include ITT Defense & Electronics, Supercomm, UNISYS, Westell and Eastman Kodak Commercial and Government Systems.
Said Andrew J. McKelvey, chairman and CEO of New York City-based TMP Worldwide: "The acquisition of Stackig Advertising and Public Relations, with their long history and expertise in the areas of recruitment and business to business advertising, represents a strategic fit for us and will be a solid addition to TMP's growing global infrastructure."