Alloy Buys Student Advantage for $6.5 Million

Generation Y marketer Alloy Inc. has bought Student Advantage Inc.

Under the terms of the agreement, Alloy will acquire all of the assets of Student Advantage’s Events and Promotions business in exchange for $6.5 million in cash and future performance-based consideration.

Alloy’s media and marketing unit, 360Youth will promote CollegeClub, the Student Advantage Membership and the SA Cash stored value card online and offline through print and outdoor media.

Student Advantage, Boston, is an integrated media and commerce company that focuses on higher education. The company works with colleges and 15,000 businesses to develop products and services, such as collegiate sports memorabilia, directly to parents, alumni and students.

New York-based Alloy targets the 60 million boys and girls in the U.S. between 10 and 24 with catalogs, Web sites, magazines, college and high school newspapers, on-campus media boards and college guides.