Marketshare Recovery Inc., a Melville, NY, e-mail marketing company, signed a letter of intent last week to buy all the shares of GM! Productions Inc., a 15-year-old event communications firm.
The soon-to-be acquired company offers business-to-business event marketing, design and production for clients from offices in Chicago, New York and Los Angeles.
GM! Productions accounts include GE Capital, Burberry, ABN Amro, Accenture, Nortel, McDonald's Corp., Goldman Sachs & Co., Johnson & Johnson, Toshiba, Hermes, Novartis, Coors, Motorola, Whirlpool Corp., MCI, Merrill Lynch & Co., Ameritech and General Motors Corp.'s Pontiac.
The firm reported 2002 revenue of $3.6 million, with projections of $6.5 million and $10.7 million for this year and next, respectively.
Marketshare expects the acquisition to close in 45 days, subject to regulatory and shareholder approval. Terms were not disclosed.