CoActive Buys Mktgpartners

http://promomagazine.com/agencies/news/coactive_buys_mktgpartners_0702/

Mktgpartners focuses on entertainment and sports marketing, experiential campaigns and promotion and numbers. BIC, CBS, Jamba Juice, Nike VSP and YouTube are among its clients. The New York-based company posted $14.1 million in gross sales and $4.3 million in operating revenue in 2007.

http://investor.mktg.com/releasedetail.cfm?ReleaseID=319028

The consideration for the acquisition consisted of $3.25 million in cash, and 332,226 shares of CoActive Marketing Group common stock, valued at $1,000,000. Also in connection with the acquisition, CoActive issued 166,113 shares of restricted CMKG Common Stock, valued at $500,000, to certain employees of mktgpartners who joined CoActive. Those shares, 42% of which were issued to Mr. Horsey, vest annually in equal installments over five years.