Snyder Communications Acquires Response Marketing Group
7 October 1998
Snyder Communications Acquires Response Marketing Group
BETHESDA, Md.--Oct. 7, 1998--Broadens Value-Added Interactive and Analytical Services
Snyder Communications, Inc. announced today that it has acquired Response Marketing Group, a leading strategic marketing and analytical services organization.
The stock transaction, which will be accounted for as a pooling-of-interests, is valued at $52 million and is expected to be accretive to 1998 and 1999 earnings per share.
Founded in 1987, Response Marketing Group (RMG) is headquartered in Richmond, Virginia and develops fully integrated interactive and marketing solutions for the technology, financial, healthcare and automotive industries. RMG's broad service offerings range from database modeling and analytical services to strategic consulting and response analysis. RMG has an established network of 155 extensively trained professional associates in 10 cities throughout the U.S. and Canada. Long term blue chip clients include Intel Corporation , Microsoft Corp. , Bank of America, Bank One Corporation , The Charles Schwab Corporation , Chevy Chase, CIBC, Fleet Financial Group , Nissan (ADR: NSANY), PNC Bank Corp. , Prudential Securities Inc., and Wells Fargo & Co. , among others.
Daniel M. Snyder, Chairman and Chief Executive Officer of Snyder Communications, commented, "RMG is known for its consistent growth and its high-end interactive, marketing and analytical solutions. We will leverage our proprietary international marketing channels to further expand RMG's blue chip client base through access to Snyder Communications' proven integrated marketing solutions. We will also capitalize on our momentum and take advantage of the cross-selling opportunities brought by this acquisition. Snyder Communications is the dominant provider of global marketing solutions to the Fortune 500 and we will continue to aggressively expand to meet the evolving needs of our clients."
Snyder Communications, Inc. is a leading provider of fully integrated outsourced marketing solutions primarily for Fortune 500 size companies. Snyder identifies high-value market segments; designs and implements marketing programs to reach them; initiates and closes sales on behalf of its clients; and provides customer care, retention and loyalty marketing services. Snyder's resources include proprietary databases of targeted consumers and small businesses; database management services; pharmaceutical detailing services; pharmaceutical consulting; medical educational communications; proprietary product sampling programs and publications; sponsored information displays in proprietary locations; marketing program consultants; creative services; field sales and marketing representatives; customer service representatives; and direct mail and fulfillment capabilities. Snyder has offices throughout the United States, the United Kingdom, France, Germany, Ireland, Holland and Hungary.