TradeDoubler acquires Search Works for £56m
LONDON - TradeDoubler has acquired IMW Group, owner of search engine marketing company The Search Works, for £56m.
IMW Group comprises search engine marketing company The Search Works and The Technology Works, which specialises in search engine marketing and search management technology.
The business, which lists Asda, Comet, EasyJet and Carphone Warehouse among its client base, was founded in 1999 and currently employs 108 staff worldwide. It reported a turnover of £69m and gross profit for the 12 months ending June 2007 of £7.8m.
TradeDoubler, which is headquartered in Sweden, said the acquisition of the total shares of IMW Group would bolster its expansion plans globally and in the UK. It said that The Search Works would primarily be used for its UK presence, while The Technology Works is centred on European and Asian markets.
William Cooper, CEO of TradeDoubler, said: "Product expansion and further internationalisation are key components in TradeDoubler's growth strategy. The acquisition addresses both these areas by rolling out The Search Works and The Technology Works throughout Europe."Nick Hynes, chief executive officer of IMW Group, said: "There is a natural affinity between TradeDoubler's products and services and the search management technology that we offer.
"We also believe there is a strong cultural fit between our two organisations. Together we will be able to offer unprecedented online marketing services and tools to a range of clients across Europe and beyond."
Meanwhile, TradeDoubler announced its second quarter results, which returned a 27.9% revenue increase year-on-year between April and June to €56m (£37.5m).
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