RealTime IT News

MDC Acquires 75% of CyberSight

Toronto communications company MDC has agreed to acquire a 75% stake in interactive agency CyberSight, dually headquartered in Los Angeles and Portland, OR.

Founded in 1994, CyberSight has thus far serviced Canadian clients such as Molson Breweries through its Portland office. The new CyberSight Canada office will be headed by former Mackerel Interactive Media CEO Gord Gower.

Financial terms of the deal were not disclosed.

CyberSight, with its 30 employees, said it will work with MDC's Communications and Marketing Services Division, which MDC is intent on building to the point where it can be spun off as a public company in its own right, according to CyberSight.

Andrew Shankman, president and CEO of CyberSight, was quoted by the Silicon Alley Reporter as saying that his company has experienced annual growth at rates of 30% and now requires "the resources of a larger organization to allow us to better support our growth."

The news follows a related June announcement by MDC in which the company stated its intention to expand the Business and Technology Services Group, with current revenues of $25 million, to $250 million within five years through both internal growth and acquisitions.