KBM Group has acquired I-Behavior from its former owners, a group that includes institutional investors, private investors, private equity firms and management and employees, according to KBM CEO Gary Laben.
I-Behavior manages a cooperative transactional database of both consumer and business customers. Purchase channels include both online and offline mediums. The Louisville, CO-based firm employs 83 people and is expected to generate $25 million in revenue during 2010. Financial terms of the acquisition were not released.
Chris Dice, I-Behavior’s CEO, and president and COO Dave DeMarsh, will be staying with the company, Laben told Direct Newsline, adding that he does not anticipate any layoffs as a result of the acquisition.
“KBM Group has gained two new locations [the company maintains an analytics functions office in Harrison, NY], one of whose ski season is wide open, so I’m pretty excited about that,” Laben added.
Industry observers could be forgiven for thinking the acquisition represents a homecoming of sorts. KBM, formerly KnowledgeBase Marketing, is the data services operations of Wunderman. And I-Behavior founder and former president and CEO is Lynn Wunderman, daughter-in-law of advertising legend Lester Wunderman. Lester Wunderman himself served as I-Behavior’s chairman.
So did the Wunderman connection play a role in steering the company to KBM/Wunderman? Probably not: Lynn Wunderman hasn’t been with I-Behavior since December 2005. And the owners of I-Behavior “looked to engage prospective buyers in a transparent process,” according to Laben.
The acquisition will open up the multichannel marketing arena, an area KBM hasn’t been as active in until now, according to Laben. Conversely, I-Behavior’s transactional information will be brought to bear in the telecom, healthcare and insurance, high tech and B-to-B-to-C sectors, Laben added.
“Transactional data determines attitudes and behaviors,” Laben said. “Knowing that someone is an outdoor enthusiast might lead an outdoor wireless telecommunications provider to position certain products which are more health or outdoors focused. A hiker might be more attuned to hearing messages about the broad, robust coverage atop any mountain in America.”
