Cross Media, the multi-channel marketing company, has completed its acquisition of JWE Enterprises.
Based on the purchase, Cross Media is projecting $210 million in revenue for this year, compared with the original estimate of $200 million.
CEO Ron Altbach said in a statement that the acquisition is “accretive and substantially strengthens our management team.”
The price is $13.5 million, including $1.6 million in cash, 416,980 shares of Cross Media common stock and $1.9 million in convertible redeemable preferred stock. In addition, there will be an additional cash payment of $4.9 million, which could increase to $8.9 million based on performance.
The purchase includes JWE’s 25% interest in J Cross Marketing, a joint venture between the two firms.
Atlbach added that the purchase further supports our mission of creating customers for life as we concurrently lower customer acquisition costs, increase product offerings while crossing a significant threshold of over 2 million credit card transactions annually.”
In recent months, Cross Media has also acquired Lifeminders Inc. and National Syndications Inc.
Network
