Whirlwind Marketing Inc., a nonprofit fundraising firm, will acquire a privately held marketing services company for a combination of cash and stock. Whirlwind, which is based in Fort Washington, PA, said the firm it is buying is located in Florida, but did not disclose the name of the firm. The acquisition is expected to close by March 31.
Whirlwind indicated the firm was established in 1995. It generated $19.7 million in revenue during 2001, and was profitable for the year.
CEO Ray Hackney declined to name the company or give the purchase price. Hackney did say that the company being acquired has 71 employees, some of whom work for the company on an “independent contractor” basis.
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