TradeDoubler Tosses $115 Million At IMW Group
While our American readers may not recognize the name, folks in Britain should know The Search Works (“the UK’s largest search engine marketing company”). The Search Works, along with The Technology Works, is owned by The IMW Group, and thanks to a new acquisition, The IMW Group is now owned by TradeDoubler.
Whew – that was a mouthful. And the folks behind the deal may have realized as much, because, in an unusual move, part of their press release is divided into bullet points. One point states, “The newly combined entity will confirm TradeDoubler as one of the largest online marketing companies in Europe.”
Being that big is costly – TradeDoubler had to fork over 56 million pounds, or about $115 million, in order to see the acquisition through. Nonetheless, the corporation’s CEO seemed pleased with the arrangement.
“Product expansion and further internationalisation are key components in TradeDoubler’s growth strategy,” stated William Cooper in the release. “The acquisition addresses both these areas by rolling out The Search Works and The Technology Works throughout Europe and by utilising The Technology Works’ Asian foothold to assess the roll out of TradeDoubler’s product offerings into Asian markets.”
Whew. Again, sort of a mouthful. Hat tip to Carlos Grande of the Financial Times, who noted that, not too long ago, TradeDoubler turned down an acquisition offer from AOL.