TSIG.com, formerly TeleServices Internet Group, Inc., will acquire The Affinity Group, an affinity marketing company that specializes in database mining and sales.
The acquisition will take place after TSIG.com completes a 10-for-1 reverse stock split, at which point TSIG.com will issue five million shares of its stock in exchange for the equity in The Affinity Group. At the close of business yesterday, TSIG.com was trading at just under 25 cents per share, giving the value an approximate value of $12 million.
The deal also includes three-year employment agreements with Affinity Group founder and president Scott Roix, as well as seven members of his management team, along with stock options.
TSIG.com is currently closing another acquisition, that of GeneralSearch.com, a portal and search engine company. TSIG.com hopes to use The Affinity Group’s marketing capabilities to drive traffic to GeneralSearch.com.
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