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.
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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.
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Gartner Magic Quadrant for Digital Commerce
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Paid Search in the Mobile Era
Google reports that paid search ads are currently driving 40+ million calls per month. Cost per click is increasing, paid search budgets are growing, and mobile continues to dominate. It's time to revamp old search strategies, reimagine stale best practices, and add new layers data to your analytics.
May 6, 2015
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