Alloy Buys S.A. Events & Promotions GroupAlloy Inc., New York, a direct marketing services company targeting Generation Y, yesterday said that it acquired the assets of Student Advantage's Events and Promotions business division for $6.5 million in cash and future performance-based considerations.
Student Advantage Inc., Boston, is an integrated media and commerce company focused on the higher education market.
Alloy's media and marketing unit, 360Youth, will promote CollegeClub, the Student Advantage membership and the SA Cash stored value card online and offline through print and outdoor media.
Alloy chairman/CEO Matt Diamond said that Student Advantage's Events and Promotions business should add about $5 million in revenue, $700,000 in earnings before interest, taxes, depreciation and amortization and $500,000 in earnings before taxes and amortization to Alloy over the next 12 months.
"Combining forces with Alloy allows Student Advantage to further increase its focus on its high-growth, high-margin transaction-based businesses," said Raymond V. Sozzi Jr., Student Advantage chairman/president/CEO, "while leveraging the strength of Alloy's marketing and media reach to the next generation of Student Advantage customers."