TheStreet.com acquires Promotions.com
Online financial content provider TheStreet.com Inc. has acquired Corsis Technology Group II LLC, New York, which implements interactive promotions for such brands as Kraft Foods and HSBC, for about $20.7 million.
The deal, which includes the full-service online promotions agency Promotions.com, is intended to move TheStreet.com forward in its strategy to become a one-stop shop for interactive advertising solutions. It also provides TheStreet.com with a robust technology platform on which to integrate future acquisitions.
"Advertisers are asking for more than search and banner campaigns," said Thomas J. Clarke Jr., chairman and CEO of TheStreet.com, in a statement. "The acquisition of Corsis and Promotions.com will address our advertisers' demand for more integrated marketing campaigns that are being requested of all publishers," he continued.
Founded in 1996, TheStreet.com, New York, provides business, investment and ratings content via a variety of Web sites, e-mail subscription services, syndication and audio and video programming.