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TMN Group plc, a U.K. online marketing firm, has acquired Internet Business Group plc for 9.84 million pounds ($19.8 million) worth of stock.
"Bringing the two groups together, with their obvious synergies and exciting market potential, represents an opportunity to continue our strategic focus on building an enlarged group providing a broad range of high quality, online advertising, marketing and research services," said Mark Smith, CEO of TMN, in a statement.
The deal must still be approved by IBG Shareholders.
