Branchez-Vous to buy NetWorldMedia
By Adnews Staff
Online publisher Branchez-Vous of Montreal has entered into an agreement to acquire NetWorldMedia, an online advertising company also based in Montreal, for approximately $4.68 million in stock. NetWorldMedia handles ad sales representation for approximately 250 websites reaching approximately nine million Canadians per month. The company had sales of approximately $4.5 million in its last fiscal year. NetWorldMedia's current owners, Lior Amar, Gino Coutu and Tom Vorias, will join the executive staff of Branchez-Vous. Coutu will be co-president and chief operating officer, Vorias will be vice-president of finance and Amar will be chief technology officer. "This acquisition will establish Branchez-Vous as the dominant advertising network in French Canada and places us in a strong position to profit from the explosive growth of the Internet advertising market across Canada," said Patrick Pierra, president and CEO of Branchez-Vous. "NetWorldMedia brings an undisputed reach in Quebec and a rapidly growing base in English Canada, a very strong sales and management team, a unique expertise in text and performance-based advertising, and proprietary technology solutions to optimize efficiency and profitability of Web advertising." The deal, which is expected to close before the end of 2008, remains subject to regulatory approvals.