Mktg and Martiz have formed a three-year alliance for direct-to-consumer promotions. The deal takes effect June 1.
Under the terms of the agreement, mktg becomes an exclusive partner for certain direct-to-consumer programs, partnership and sponsorship marketing, as well as the provision of a field sales and marketing force for consumer marketing programs on behalf of Maritz and its clients.
Maritz will initially receive shares of mktg common stock in return for mktg assuming certain client projects, and can earn additional shares of common stock if certain performance targets are achieved by mktg under the alliance, the companies said.
Mktg will also be absorbing a significant number of Maritz employees to facilitate a seamless transition of some Maritz contracts to mktg.
“Mktg will assume responsibility for the services we provide for our clients on consumer events, sponsorships/co-marketing, social media marketing and media communications services,” John McArthur, senior executive vice president of development at Martiz said in a release. “This relationship will allow us to bring greater breadth and depth of expertise and bench strength to Maritz’ clients.”
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