On March 11, 2005, THK completed the acquisition of KowaBunga! Marketing, Inc. While the terms of the transaction were not disclosed in the following press release, the 10-K discloses that the price was $500,000 in cash and 127,818 shares of stock.
biz.yahoo.com
CGI Holding Corporation Acquires KowaBunga! Marketing, a Leading Affiliate Software Provider
Monday March 14, 7:45 am ET
LAKE BLUFF, Ill.--(BUSINESS WIRE)--March 14, 2005--CGI Holding Corporation, which plans to seek shareholder approval to change its name to Think Partnership Inc. (AMEX: THK - News; "Company"), today announced that the Company has acquired KowaBunga! Marketing, Inc. ("KowaBunga"), a provider of Internet marketing software technologies, including software for affiliate marketing, search engine marketing and opt-in email marketing (see www.kowabunga.com). The terms of the transaction were not disclosed.
Based in Westland, MI, KowaBunga has grown steadily since its inception in 1996, by offering innovative, cutting edge technology combined with world-class support and customer service. KowaBunga currently services over 2,000 merchants with their My Affiliate Program Tracking and Management solution and thousands of affiliates with their newly released Kolimbo Affiliate Network (www.Kolimbo.com). Todd Farmer, the founder of KowaBunga, will continue to lead the business following the merger.
Along with their affiliate marketing products, KowaBunga offers internet marketing software and service packages including a permission-based email marketing suite, a website personalization and marketing automation product, an automated PPC keyword bid management program and a multi-channel referral management solution.
Todd Farmer, the CEO of KowaBunga, stated, "Merging with Think Partnership and their impressive family of companies offers KowaBunga an unprecedented opportunity for growth and development. We see this merger as a synergistic partnership that will allow us to reach a wide variety of new clients while offering the other Think Partnership companies custom technology solutions."
Gerard M. Jacobs, the Company's CEO, stated, "This transaction emphasizes Think Partnership's commitment to state-of-the-art technology and innovation in the affiliate marketing sector. Think Partnership is very fortunate to have new partners of the caliber of Todd Farmer and his team at KowaBunga."
Scott Mitchell, the CEO of Cherish, Inc., the Company's online dating businesses, added, "KowaBunga represents what we consider to be the gold-standard in affiliate marketing solutions. KowaBunga's powerful suite of marketing technologies and their exceptional reputation as an online marketing services company operating with the utmost level of integrity is clearly a natural fit with Think Partnership. Affiliate marketing continues to be one of the fastest growing revenue generating channels for companies of all sizes. Think Partnership is committed to strengthening its capacity as a leading affiliate marketing company."
Steven "Pat" Martin, the CEO of the Company's WebSourced subsidiary, added, "KowaBunga's extensive range of online marketing software will be a tremendous asset as we expand our services to become a world leader in affiliate marketing. With WebSourced's proven history in providing world-class marketing services to its clients, the addition of KowaBunga's software solutions will allow us to continue to provide the highest level of support."
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