Snyder Buys Response MarketingContinuing on a brisk-paced acquisition path, Snyder Communications, Bethesda, MD purchased Response Marketing Group, Richmond, VA. The stock transaction, which will be accounted for as a pooling of interests, is valued at $52 million.
Response Marketing Group is a strategic marketing and analytical services agency that develops integrated interactive and marketing solutions for the technology, financial, healthcare and automotive industries. Its services include database modeling, analytical services, strategic consulting and response analysis.
Response Marketing Group lists as clients the same type of blue chip companies that Snyder serves, which Snyder chairman/CEO Daniel M. Snyder noted would open the door to many cross-selling opportunities.
"We will leverage our proprietary international marketing channels to further expand RMG's blue-chip client base through access to Snyder Communication's proven integrated marketing solutions," he said. "We will also capitalize on our momentum and take advantage of the cross-selling opportunities brought by this acquisition."
Response Management Group's clients include Intel Corp., Microsoft Corp., Bank of America, Bank One Corp., The Charles Schwab Corp., and Prudential Securities.
Snyder, which for a long time has maintained a growth strategy that is partly fueled by acquisitions, purchased pharmaceutical sales and marketing company MKM Marketing GmbH, Lenggreis, Germany, on Sept. 15 and pharmaceutical educational marketing solutions agency Clinical Communications, Group, Greenwich, CT, on Aug. 27.
Snyder has offices throughout the United States, the United Kingdom, France, Germany, Ireland, The Netherlands and Hungary.