TMP Worldwide Acquires IN2 Agency
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IN2 Inc., which TMP said is central to its growth in the online advertising market, was acquired on May 28, by issuing approximately 289,000 common shares; the transaction was accounted for as a pooling of interests. TMP stock closed Thursday at 55 5/8.
IN2 clients include iVillage, StarMedia, About.com, Columbia House, CMP Media and Furniture.com. As many of TMP's Yellow Page clients migrate their key businesses to the Web, IN2 will provide them with online marketing solutions and will continue to expand its own interactive client base and develop technology solutions, TMP said.
For TMP Worldwide, this acquisition marks the establishment of two new business units within the company -- Interactive Direct Marketing and Interactive Technologies.
"TMP greatly believes in the Internet's efficiency as a powerful one-to-one marketing vehicle," said Andrew J. McKelvey, chairman and CEO of TMP Worldwide. "With the creation of these groups and a determined commitment to the further development of these services, TMP will look to increase its presence in marketing technologies, advertising networks and data mining capabilities."
Interactive Technologies' first product, ClickMaps, is an advertising tool that measures return on investment (ROI) and provides behavioral analysis. It is currently measuring over two million advertising interactions per day, the company said.
Adding to its Yellow Page operations, TMP also acquired LIDA Advertising Inc., based in Indianapolis, and Yellow Pages Unlimited, based in St. Louis.