Click Tactics, Intrasight to Merge
Multi-channel marketing services firm Click Tactics Inc. and Intrasight, a relationship marketing company, will merge. The combined entity will use the Click Tactics name. Andy Frawley, CEO of Click Tactics, will retain his title, and Jeff Walters, currently president of Intrasight, will continue to run the Intrasight unit and take on the chief marketing officer mantle for the new company.
The companies did not disclose full financial details of the merger. But in simultaneous transactions, JMI Equity and ABS Ventures acquired a significant minority stock stake from TH Lee Putnam Ventures. These transactions, combined with an infusion from current investor IDG Ventures, resulted in $35 million in new capital.
Click Tactics, Waltham, MA, currently specializes in the retail, financial services, retail banking industries, and has recently begun to branch into the cable and telecommunications fields. Scottsdale, AZ-based Intrasight’s customer base consists primarily of the travel, hospitality, tourism, and transportation-in-travel fields, along with a smattering of dot-coms and consumer packaged goods firms.
In an interview, Frawley cautioned that not all of the $35 million remained in Click Tactics’ coffers, once transaction-related fees and expenses were paid. That said, enough was left to allow management to pursue other acquisitions, as well as bolster its sales force. Acquisition targets might include companies that can bolster a variety of marketing channels with a particular focus on interactive mediums. Additionally, Click Tactics will be looking at analytics and measurement firms, as well as those serving other industries and geographies.
Click Tactics currently employs 100 people, while Intrasight boasts around 50 workers. No staff cuts are anticipated, however two board members — those from TH Lee Putnam — will be replaced by one member each from JMI Equity and ABS Ventures.
The two companies have not previously cooperated on industry offerings. Both independently anticipate debuting new products or services in October.
