Cendant Eyes Net Companies

Share this article:
Just when it looks like Cendant Corp. will slow its buying binge, the marketing giant has announced plans to go after small Internet companies.


Fresh from the acquisitions of Britain's National Parking Corp. and Royal Automobile Club for more than $2 billion, Cendant president and CEO Henry Silverman said May 5 that the Parsippany, NJ, company had completed the external part of its strategic growth plan for the year.


But two days later at the "@dtech" conference in Chicago, Cendant chairman Walter Forbes revealed to Reuters that the company was looking at Internet firms despite having existing online capabilities.


"I bet we do make a couple more investments and buy a couple more [Internet companies] in the next 12 months,'' Forbes said.


The closing date on Cendant's already announced tender offer for American Bankers Insurance, Miami, has been extended from May 6 to July 1 to allow the insurance regulatory process to be completed.
Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Opinions

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Opinions

When Marketing and Sales Collide: Answers

When Marketing and Sales Collide: Answers

The head of marketing operations is doing just as much selling as marketing, sans the commission her sales colleagues earn. How should she handle it? See how our readers would ...

App of the Week: RescueTime

App of the Week: RescueTime

RescueTime aims to help users become more focused and productive.

Defending Direct: Answers

Defending Direct: Answers

Miranda Bell knows her program will pay off but CEO Dasha Atwala says to nix it. What should she do?