CompuCredit, an Atlanta-based credit card company, has acquired Citadel Group, a financial services direct marketer. Citadel was acquired with 1.8 million newly issued shares of CompuCredit stock, valued at approximately $64 million
Citadel markets fee-based services to credit card holders, such as discount buying clubs, card registration, and roadside assistance programs. The bulk of its business in recent years had come from CompuCredit cardholders.
CompuCredit markets unsecured Aspire Visa credit cards through direct mail, telemarketing, and the Internet.
