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TMN to acquire Internet Business Group for £9.8m

LONDON - Online direct marketing group TMN has agreed to acquire online advertising and media group Internet Business Group for £9.8m.

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IBG and TMN believe that the acquisition will result in an enlarged group, with significant commercial and financial advantages for the shareholders of both companies.

Shareholders will receive one new share in TMN for every 3.765 shares held in IBG. Assuming no options are exercised, IBG shareholders will hold about 29% of new TMN shares.

TMN currently comprises: email and website marketing agency TMN Media; full service digital advertising agency EDR; online fieldwork service arm ID Factor; and research analysis agency ICD Research.

IBG's operations are divided primarily into three divisions: Affiliate Future, a performance marketing network; IBG Media; and e-commerce.

TMN aims to increase its UK online direct marketing service range with a view to controlling more of advertisers' online spend.

There is said to be little cross-over at present between TMN and IBG customer bases, providing potential opportunities to cross-sell products and services.

Mark Smith, CEO of TMN, said: "Bringing the two groups together with their obvious synergies and exciting market potential, represents an opportunity to continue our strategic focus on building an enlarged group providing a broad range of high quality, online advertising, marketing and research services."

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