Mosaic Group Acquires French Field Marketing Agency
November 2, 1999
TORONTO, ONTARIO--
-CONTINUES EXPANSION OF EUROPEAN PLATFORM SERVING IT SECTOR-
Mosaic Group Inc. (TSE: MGX) announced today that it has reached
an agreement to acquire BoosterGroup Services ("Booster"), a
retail field marketing services company located in Courbevoie, a
suburb of Paris, France. Booster specializes in serving the IT
sector, providing outsourced sales services and demonstrations.
Significant clients include Nintendo, France Telecom Interactive,
Hachette, Apple, Kodak, AGFA, Fuji, Philips, Casino and Havas
Interactive.
The initial purchase price is approximately $3 million, with
additional consideration payable if 1999 and 2000 earnings targets
are achieved. Revenues for 1999 are expected to approximate $11
million. Mosaic expects the acquisition of Booster to add to
earnings and cash flow per share in fiscal 2000.
Michael Cottman, Vice-Chairman & C.E.O. Europe of Mosaic Group,
said, "Booster is an excellent complement to our EMS Chiara
businesses, all of which specialize in providing outsourced sales
services to the fast growing information technology sector.
Through effective partnership with our clients, we are able to
help them build market share while they enjoy increased
flexibility and controlled costs."
"As part of Mosaic, our company can pitch on much larger pieces of
business," said Oumou Wane, Managing Director of Booster. "We will
have access to a much larger pool of resource, both human and
economic. We are now part of a group with broad geographic reach,
so we can lead pitches for pieces of business not just in France,
but with European scope."
"I am very pleased with the speed and quality of Mosaic Group's
expansion in Europe," said Mike Preston, Mosaic's Chairman &
C.E.O. "Our reach now extends to 11 countries: France, the UK,
Ireland, Luxembourg, Netherlands, Belgium, Spain, Sweden, Denmark,
Finland, and Norway. We are approaching a scale such that we can
effectively support a large number of pan-European outsourced
sales services programs for the IT sector, such as the program we
recently won with IBM. Our plan is to continue to expand our
network of companies so that we can serve clients in more
countries and industries."
Mosaic Group Inc., with operations in the United States, Europe
and Canada, provides outsourced marketing services on an
integrated basis to leading corporations serving international
markets. Mosaic combines strategic thinking with leading-edge
technologies to effectively deliver immediate and measurable
results for its clients. Marketing solutions include electronic
marketing, e-commerce, new media services, contract sales,
merchandising, field marketing, direct marketing, database
development and management, product promotion, corporate
communications and sales force training. Mosaic, which has
approximately 71 million shares outstanding, trades on the TSE
under the symbol MGX.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Ben W. Kaak
EVP & CFO
Mosaic Group Inc.
(416) 813-4272
kaakb@mosaicgroupinc.com
or
Catherine Linley
Public Relations
Mosaic Group Inc.
(416) 813-4277
www.mosaicgroupinc.com |
