College Partnership Inc has acquired Waldrop Enterprises Inc., which does business as Vision Direct Marketing. The purchase price was $2.81 million with an issuance of 2.2 million shares of preferred stock.
Vision Direct Marketing provides marketing and call centers for clients with high-value products and services. The company is also the exclusive distributor of Verbal Advantage. As a result of its purchase, College Partnership has acquired a 39.9% stake in the Verbal Advantage product line, and has an option to acquire the rest.
Verbal Advantage is an audio-based vocabulary-building series of products. The company generated $3.75 million during calendar 2004.
William H. Waldrop, president and CEO of Vision Direct, will become College Partnership’s executive vice president and chief marketing officer. His responsibilities will include all of College Partnership’s marketing activities, including its direct mail operations.
