Release - Mosaic Acquires Irish Marketing Agency
January 13, 2000
TORONTO, ONTARIO--Mosaic Group Inc. (TSE: MGX), Canada's leading
outsourced marketing services agency, has acquired Pentagon, a
sales promotion and marketing services agency based in Dublin,
Ireland. The strategic acquisition broadens the geographic base of
Mosaic's marketing services business to Ireland, the
fastest-growing economy in the European Monetary Union. Total
consideration of up to $2.2 million will be paid based on 2000
performance.
Pentagon, with estimated 2000 revenues of $3.5 million, executes
programs in the areas of sales promotion, direct marketing,
channel development, loyalty program development, consumer public
relations and design.
Pentagon's client list includes Oceanfree.net, Bass Ireland,
Sigma, Barry's Tea, Lucent Technologies, Aer Lingus, Edward Dillon
& Company, Texaco, Smith & Nephew, and DSG/Sharptext.
"Pentagon brings both promotional and general marketing expertise
that we will be able to leverage to our existing clients. In
addition, they bring an impressive client list. While Pentagon
will continue to further develop its own brand, we plan where
appropriate to cross-sell Pentagon's promotional marketing
services to our existing Dublin-based Irish field marketing
business, FMI, and vice versa," said Michael Cottman,
Vice-Chairman, President and Chief Operating Officer of Mosaic
Group. "We are pleased with the cross-selling opportunities that
the strategic acquisition of Pentagon will bring to our business
in Ireland, as well as expanding our ability to provide marketing
solutions to clients across Europe."
"We are excited about the broader client base and resource network
we will be able to access as part of Mosaic Group," said John
Canacott, CEO of Pentagon. "We will be able to grow our business
faster both as a result of increased business opportunities
through client synergy with other Mosaic business units and just
as significantly, through offering an increased range of services
to our existing clients."
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:
Mosaic Group Inc.
Ben W. Kaak
EVP & CFO
(416) 813-4272
or
Catherine Linley
Public Relations
(416) 813-4277
www.mosaicgroupinc.com |
