The acquisition of Stevens-Knox List Management, New York, by Marketing Services Group Inc., New York, will be used to expand both companies’ international business.
In addition to bringing direct marketing services, such as list enhancement, telemarketing and Internet capabilities to Stevens-Knox’ clients, “The acquisition – a cash transaction finalized on Jan. 19 — opens up an opportunity to for us in London,” said Ralph Stevens, president, Stevens-Knox.
MSGI plans to apply its experience in handling direct marketing for Broadway shows in New York to stretch Stevens-Knox’ two-year-old non-entertainment client base in London to include British theater clients.
“We handle 100% of Broadway. We now want to take a step back and handle [the plays] in London before they come to New York,” said Jeremy Barbera, chairman/CEO of MSGI.
About the acquisition in general, Barbera said it enhances the “one-stop-shopping environment” for both companies’ clients. “We own them 100%,” he said, but emphasized that Stevens-Knox will continue to operate independently. “No one’s going to lose their job. They are going to remain a wholly autonomous subsidiary of the company.”
Neither would disclose the terms of the deal.
Stevens said Stevens-Knox was healthy and had taken on list management of Kiplinger’s Personal Finance Magazine, along with other Kiplinger magazine, newsletters, book and video buyer files this month.
MSGI provides direct marketing, database marketing, media planning and buying, telemarketing and e-commerce to “nearly 1,000 clients worldwide,” according to a company statement. It is a public company, 25% of which is owned by GE Capital. This is the sixth operating subsidiary it has acquired.
The acquisition of Stevens-Knox, with $30 million in annual revenues, “makes MSGI a $100 million company,” said Barbera.
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