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Traffix To Acquire SendTraffic
Direct marketing company Traffix is set to acquire the rights to SendTraffic.com, a search engine marketing firm. SendTraffic provides full service search engine marketing solutions to over 100 clients. SendTraffic also maintains "Certified Ambassador" status with Overture, and is a member of the Google Research Board.
Traffix suggests that this agreement will generate $10 million in revenue. The deal is expected to be finalized by the July 1, 2004. The acquisition calls for Traffix to purchase all of the assets of SendTraffic for $5.43 million. The payment for SendTraffic will be comprised of $1.68 million in Traffix common stock, and $3.75 million in cash.
Commenting on the potential of the SendTraffic business, Jeffrey Schwartz, Chairman and CEO of Traffix stated:
"We believe that SendTraffic has tremendous growth potential to add new clients from the thousands of businesses that have not begun to tap into the use of search engines for marketing. Virtually any company can benefit from using search engine marketing if they are aligned with an industry expert such as SendTraffic. Furthermore, this type of growth is not capital intensive."
Greg Byrnes, co-founder and co-owner of SendTraffic, said, "it was not an easy decision for Craig and me to sell the business. Frankly, we feel that by merging it with Traffix, we will be able to tap their tremendous resources and marketing expertise so that we can take this business to the next level."
"We are very excited because we see so many opportunities to grow our business with Traffix. These guys have proven themselves with over 10 years of profitable operations in all forms of direct marketing media." He added, "collectively, we see the search engine industry as one of the most effective direct marketing media created to date. Overall, we are thrilled to be joining the Traffix family."
Byrnes and co-founder Craig Handleman, have agreed to enter into five-year employment contracts with Traffix.
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