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NextMark Acquires Marketing Information Network
May 6, 2008 7:57 PM
, By Jim Emerson
NextMark Inc. has bought Marketing Information Network for an undisclosed sum. MIN will retain its name and operate as a new division of NextMark. Although the cash transaction’s terms weren’t released, financing was provided by Citizens Bank, Venture Capital Fund of New England, CEI Ventures, MerchantBanc Venture Partners, NextMark’s shareholders and the Litle family through Turtle Hill Investment Co. “I’m happy,” said Scott Chilcutt, MIN’s founder and former president. Chilcutt is now a vice president at NextMark and will still be in charge at MIN, headquartered in Edmond, OK. “We’re keeping both offices, all employees and all customers will use the same systems,” according to NextMark president Joseph Pych. Moving forward, Hanover, NH-based NextMark will focus on technology issues while MIN is expected to handle list data cards, sales and client support. MIN also will cross-sell services offered by NextMark and vice versa. Pych said the combined company plans to launch a list fulfillment services division within a few months. Brokers will be able to order lists directly from NextMark. NextMark and MIN provide online data-card search directories and other list-related offerings for list owners, managers and brokers. NextMark tracks more than 74,000 lists from more than 1,200 sources. MIN has a database of some 55,000 data cards. “After many years of sparring for customers we’ve decided to [put down] the gloves and work together to service the list industry,” Pych said. The MIN acquisition leaves NextMark with one main competitor, Standard Rate & Data Service (SRDS). |
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