Proceed to Merge with CGI

  |  December 28, 2004   |  Comments

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.

News of the merger follows last week's acquisition of search engine marketing firm iProspect by Aegis Group. Some industry watchers anticipate a trend of SEM agency buy-outs.

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.

ClickZ Live New York What's New for 2015?
You spoke, we listened! ClickZ Live New York (Mar 30-Apr 1) is back with a brand new streamlined agenda. Don't miss the latest digital marketing tips, tricks and tools that will make you re-think your strategy and revolutionize your marketing campaigns. Super Saver Rates are available now. Register today!

ABOUT THE AUTHOR

Zachary Rodgers

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. 

COMMENTSCommenting policy

comments powered by Disqus

ClickZ Today is our #1 newsletter.
Get a daily dose of digital marketing.

COMMENTS

UPCOMING EVENTS

UPCOMING TRAINING

Featured White Papers

Google My Business Listings Demystified

Google My Business Listings Demystified
To help brands control how they appear online, Google has developed a new offering: Google My Business Locations. This whitepaper helps marketers understand how to use this powerful new tool.

5 Ways to Personalize Beyond the Subject Line

5 Ways to Personalize Beyond the Subject Line
82 percent of shoppers say they would buy more items from a brand if the emails they sent were more personalized. This white paper offer five tactics that will personalize your email beyond the subject line and drive real business growth.

WEBINARS

    Information currently unavailable

Jobs

    • Lead Generation Specialist
      Lead Generation Specialist (The Oxford Club) - BaltimoreThe Oxford Club is seeking a talented writer/marketer to join our growing email lead-generation...
    • Health Marketing Editor
      Health Marketing Editor (Agora Inc.) - BaltimoreCome flex your intellectual muscle as part of Agora, Inc’s (http://agora-inc.com/) legal team...
    • Marketing Systems Analyst
      Marketing Systems Analyst (OmniVista Health) - BaltimoreOmniVista Health is looking to add a Marketing Systems Analyst to our expanding team. We...