TeleServices Internet Group Closes Affinity Acquisition
ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Dec. 6, 2000--TeleServices Internet Group Inc. (OTCBB:TIGI), also known as TSIG.com, today announced the closing of the acquisition of The Affinity Group Inc., a loyalty marketing company that specializes in database mining, product development and direct-to-consumer sales. Its sales for the year 2000 will exceed $25,000,000.
Scott Roix, the founder of Affinity and its CEO, will take over the helm of the combined companies as Chairman and CEO of TSIG.com. Mr. Roix brings with him to TSIG.com an experienced and highly successful management team, with a proven track record of driving top-line growth and generating strong cash flow.
Jeff Bruss, the founder and CEO of GeneralSearch.Com, will continue to serve as Vice-Chairman of the Board for TSIG.com, and will devote considerable attention to new business development.
"We are delighted to close the acquisition of The Affinity Group," stated Mr. Bruss. "We have been working with Affinity over the past several months to combine Affinity's marketing and promotions skills with GeneralSearch.Com's programming and Internet expertise to drive e-commerce sales."
As evidence of the synergies between Affinity and GeneralSearch.Com, the company is pleased to report that Internet sales of its Travel Membership Program have exceed all expectations. Sales during the first five days of December have already exceeded total sales for the months of October and November combined. As previously reported, the GeneralSearch.Com properties achieved their first 100,000 unique visitor day on November 29, 2000.
About TSIG.com.
Headquartered in St. Petersburg, TSIG.com has recently acquired GeneralSearch.Com, an Internet Search engine and portal, and The Affinity Group, a loyalty marketing and sales company. TSIG.com forms myCard partnership agreements with national corporations and non-profits, and works with those partners to design revenue-generating programs. These customized marketing programs are intended to provide recurring revenues to TSIG.com and its partners, and help develop strong brand loyalty and awareness within target communities. TSIG.com also provides customer service and support with its Web-based call center and related services. TSIG.com's corporate web site is at www.tsig.com and its myMusicCard web site is at www.mymusiccard.com.
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exchange Act. Actual results could differ materially, as the result of (1) competition in the markets for the company's products and services; (2) the ability of the company to execute its plans in a timely fashion; (3) the ability of the company to raise the capital necessary to finance its operations; and (4) other factors noted in the company's SEC filings.
CONTACT: TeleServices Internet Group Inc., St. Petersburg
Paul Henry, 727/897-4000
phenry@tsig.com |
