MOSAIC GROUP ACQUIRES PARADIGM
By Adnews Staff
Toronto-based outsourced marketing agency Mosaic Group is buying U.S.-based Paradigm Direct for US$102 million in cash and stock. Additional payments will be made based on Paradigm's 2001 financial results. The acquisition is in line with the agency's plan to make a major move into the U.S. market. Paradigm, based in Fort Lee, New Jersey, is a direct marketing company specializing in the telecommunications, insurance, financial services and home services industries. Paradigm's technique involves gathering data on consumers most likely to want the products and services of clients. Paradigm's clients include AT&T and E*Trade. The company offers services in four areas: performance based marketing, contract marketing, brand enhancement and Internet strategies. The buyout is Mosaic's largest to date.