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Selling Source Completes Acquisition of Kitara Media and The Q Network
Sep 08, 2010 (12:09 PM EDT)
Transaction Will Create One of the Largest U.S. Digital Marketing Businesses With Annualized Revenues Near $300 Million
LAS VEGAS, Sept. 8 /PRNewswire/ -- Selling Source, LLC [www.SellingSource.com], the leading provider of technology and marketing solutions to the specialty finance sector, announced today that it has completed the acquisition of Kitara Media and The Q Interactive Network, which includes seven affiliated digital marketing businesses and web properties, including Q Interactive, ClickGen, CoolSavings, Vente, Postmaster Direct, ThruChannel and Right Mail Marketing. These businesses are expected to generate approximately $100 million in revenue in 2010. The acquisition will make Selling Source one of the largest privately-held digital marketing businesses in the United States, with pro forma combined annualized revenue expected to approach $300 million by the fourth quarter of 2010. Selling Source is a London Bay Capital portfolio company.
"These acquisitions will make Selling Source one of the most diversified digital marketing businesses in the United States, with a broad portfolio of services offered to hundreds of clients across more than one dozen industry sectors. The company is led by a combined management team that is one of the strongest and most knowledgeable in the digital marketing sector, with the skills and experience necessary to build and successfully manage a much larger enterprise," stated Sam Humphreys, the Chairman of Selling Source.
"This merger and the continuing expansion of Selling Source's highly successful customer acquisition activities will provide our clients with unprecedented consumer reach - one of the broadest within the digital space," said Dale Baker, newly appointed Chief Executive Officer of Selling Source. "With this combined platform, we will be able to develop new verticals and product lines quickly and seamlessly, while continuing to evolve and enhance our cutting-edge technology."
Following these transactions, Selling Source's businesses and web properties will include:
"This is an exciting new chapter for our companies," said Glenn McKay, President and Chief Operating Officer of Selling Source. "These businesses are a perfect fit for us. Selling Source has historically focused on a small number of very specialized markets, while the acquired businesses have developed technologies and skills which, broadly speaking, are applicable to virtually any industry vertical. Both businesses have always been very data-driven. Following this transaction, this combination of deep expertise and wide coverage will give us the ability to generate very large volumes of the highest quality consumer leads — which will yield the greatest returns for both our advertiser customers as well as our affiliated publishers. Our combined daily traffic volume will be several times greater than we now enjoy. While we intend to continue to grow our industry-leading market share in the specialty finance sector, we will also seek to aggressively expand in several of the markets of our newly acquired operations."
About Selling Source, LLC
Selling Source LLC is the parent company of an integrated group of online advertising, lead generation and data businesses. For more than ten years, Selling Source has pioneered online marketing strategies for specialty finance companies and now serves customers in more than one dozen industry sectors. London Bay Capital, a private equity firm based in San Francisco, acquired a controlling interest in Selling Source in December 2007. For more information, please visit www.sellingsource.com.
About London Bay Capital
London Bay Capital LLC is a private equity firm based in San Francisco. It focuses on management buyouts of middle-market growth businesses in the U.S. and Europe. It invests its partners' capital as well as funds it manages on behalf of one of the world's largest family offices.
SOURCE Selling Source, LLC