Mosaic Group Closes Investment in Medium One
TORONTO, ONTARIO--Mosaic Group Inc. (TSE: MGX) today announced
that it has closed its previously announced investment in
Toronto-based interactive agency Medium One Productions Inc.
The original agreement contemplated an acquisition by Mosaic of a
52% voting interest in Medium One. Under slightly revised terms,
Mosaic has instead acquired a 60% voting interest. Mosaic will pay
the same consideration as under the terms of the original
agreement.
Medium One is a 3-year-old interactive agency with 45 employees in
offices in Toronto and Montreal. The investment will allow Medium
One to continue to be a leader in the growing interactive forum by
leveraging Mosaic's knowledge and skill-sets. Medium One builds
strategic interactive products and marketing materials for clients
such as Royal Bank of Canada, Classwave Wireless, Cincinnati Bell,
Star Data, Kanetix.com (Canada Life) and Chapters. The company has
multilingual capabilities, having produced interactive solutions
in English, French and Cantonese. Medium One's revenues for 2000
are expected to exceed $4 million.
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 72 million shares outstanding, trades on the TSE
under the symbol MGX.
-30-
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 www.mediumone.com |
