Intersections Inc., a consumer credit services firm located in Chantilly, VA, said it plans to acquire Chartered Marketing Services Inc. (CMSI), an Arlington Heights, IL-based direct marketer of insurance and membership services products in the financial services industry.
The purchase of CMSI for approximately $50 million in cash is expected to close in July. CMSI brings to the deal its relationships with 10 mortgage servicing companies.
Intersections presently offers credit score monitoring and identity theft prevention services to consumers. The acquisition will enable Intersections to expand its lineup of financial products offered to consumers.
CMSI will operate as a subsidiary of Intersections. CMSI presently has 104 employees. According to Intersections CMSI reported $51 million in revenues in 2005.
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