TheStreet.com announced today its acquisition of Corsis, a leading provider of advertising, marketing, and publishing solutions, for approximately $20.7 million. This acquisition also includes Promotions.com, an online promotions company that develops interactive advertisements for some of the most popular brands we know.
â€œAdvertisers are asking for more than search and banner campaigns,â€ said Thomas J. Clarke Jr., chairman and chief executive officer of TheStreet.com. â€œThe acquisition of Corsis and Promotions.com will address our advertisersâ€™ demand for more integrated marketing campaigns that are being requested of all publishers. This acquisition will provide us with a robust technology platform, setting the foundation for the integration of future acquisitions, and we expect that it will allow us to expand our gross margins.â€
TheStreet.com has been known to provide financial commentary, analysis, research and news and is looking towards expanding its advertising offers.
Originally posted on August 3, 2007 @ 12:19 am