Proceed managed $5 million worth of paid search and other marketing spending in 2004.
Proceed Interactive has agreed to merge with CGI Holding Corporation, which owns online marketing firm WebSourced.
Proceed, previously called Meandaur, managed $5 million worth of paid search and other marketing spending in 2004. Projected revenues for 2004 are $3.6 million. The company's 35 employees manage a roster of accounts including General Motors, Omni Hotels and Wells Fargo. Jonathan and Stephen Schepke, Proceed's co-CEOs, will continue to lead the company. Founder Bruce Findley will stay on as a consultant.
"We expect this merger to enhance the quality and variety of services we can offer to our clients, and to provide a breadth of opportunities for our shareholders and employees," said Steve Schepke.
The stock deal is worth a total of approximately 1.3 million shares, half of which will be placed into escrow and paid out according to Proceed's performance over the next four years. CGI said the merger would be "immediately accretive" to its earnings.
CGI's WebSourced subsidiary is a purveyor of search marketing services. Clients include RealNetworks, Alaska Airlines and Lowe's.
Twitter Canada MD Kirstine Stewart to Keynote Toronto
ClickZ Live Toronto (May 14-16) is a new event addressing the rapidly changing landscape that digital marketers face. The agenda focuses on customer engagement and attaining maximum ROI through online marketing efforts across paid, owned & earned media. Register now and save!
Until March 2012, Zach Rodgers was managing editor of ClickZ's award-winning coverage of news and trends in digital marketing. He reported on the rise of web companies, data markets, ad technologies, and government Internet policy, among other subjects.
9 Strategies to Engage Your Consumers
Online marketing apps are highly engaging - taking visitors on short, but effective, conversion-focused journeys. This white paper illustrates 9 strategies to engaging consumers through app-like experiences.
Redefining 'Mobile-Only' Users: Millions Selectively Avoid the Desktop
A new breed of selective mobile-only consumers has emerged. What are the demos of these users and how and where can marketers reach them?
March 19, 2014