Teen apparel and accessories cataloger Alloy has acquired Carnegie Communications, a publisher of college admissions resources.
Under the terms of the agreement, Alloy has issued approximately 1.3 million shares of stock and paid $5 million in cash and future consideration to complete the acquisition.
Carnegie publishes more than 30 annual publications, which profile leading colleges and universities that pay a fee to appear in the publications. The resource magazines each year reach more than 3.7 million high school students, parents and counselors.
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