Cordiant Communications Group PLC - `CCG' - Acquisition of Interactive Edge.LONDON--(BUSINESS WIRE)--December 8, 1999-- CCG CCG Chicago CCG Collectible Card Game CCG Canadian Coast Guard CCG Country Commercial Guide CCG Children's Cancer Group CCG Commission Canadienne des Grains (Canadian Grain Commission) (NYSE NYSE See: New York Stock Exchange :CDA (1) (Compact Disc Audio) The compact disc file extension that is seen on the computer in Explorer or some other file manager. CDA files are actually pointers to the locations of the individual tracks on the CD medium. See CD-DA. ) announces the acquisition of New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. based Interactive Edge, Inc., an award winning industry leader in trade and channel marketing communications Marketing communications (or marcom) are messages and related media used to communicate with a market. Those who practice advertising, branding, direct marketing, graphic design, marketing, packaging, promotion, publicity, sponsorship, public relations, sales, sales , producing a wide range of interactive and web-enabled sales, marketing and analytical tools. Interactive Edge will become part of 141 Worldwide, CCG's global marketing services network. Interactive Edge's clients include some of the world's leading consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and companies such as Colgate-Palmolive, Johnson & Johnson, Fort James, Nabisco, Nestle, Tropicana and Warner-Lambert. The Company's software enables sales forces to present brand and category development information in a manner that leverages brand strategy. Interactive Edge will focus exclusively on delivering customized software solutions which reinforce and expand clients' brand equity. Initial consideration comprises of US$6.1 million, comprising of a cash payment of US$600,000 and the issue of 1,655,380 new CCG shares. Maximum total consideration of US$25.0 million may be payable depending on financial performance, with deferred consideration satisfied in new CCG shares. Michael Bungey, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CCG, commented: "Interactive Edge is a state-of-the-art business which will extend our capabilities in the rapidly developing channel marketing arena. Leveraging CCG's extensive client base and infrastructure provides a tremendous opportunity to accelerate the growth of Interactive Edge globally. The acquisition is in line with our strategy of building marketing services business to 50% of total revenues." Zel Bianco, CEO of Interactive Edge, added: "We're delighted to become part of Cordiant Communications -- a well respected worldwide company with local representation that enables Interactive Edge to extend our reach and service to our Global 2000 clients. Interactive Edge has been instrumental in creating the industry standard and best practices for how world-class companies communicate category management information to their customers. Our management team, which includes Cynthia Carnesi and Nai-Wu Hsu, look forward to sharing our software solutions with more of the world's industry leaders through our Cordiant and 141 Worldwide affiliation." |
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