CORAL SPRINGS, Florida, July 20, 2016 /PRNewswire/ --
Nearly 60% of marketers will expand their influencer marketing budget by the end of 2016 as it becomes more effective at targeting consumers than traditional marketing methods. As online events such as ad blockers and other factors continue to weigh down the effectiveness of traditional marketing methods, more and more top brands are allocating ad dollars to influencer marketing.
SharkReach, Inc. (OTC: SHRK) a millennial influence marketing company today announced that on July 14, 2016, it entered into a definitive agreement to acquire 100% of the 30+ year old advertising and marketing agency, Mastermind Involvement Marketing, LLC ("Mastermind" or "MIM"). The transaction is structured in cash and stock, with SharkReach acquiring MIM and merging MIM into a wholly owned subsidiary of the Company. The total purchase price for 100% of MIM is approximately $16 million in cash and stock of the Company, including all earn outs, spread out over a two and a half year period at the then current trading price of the stock at the time of issuance. Among other closing conditions, the transaction is subject to the Company entering into definitive employment agreements, Lock Up agreements and related agreements with MIM's principals and the completion of an audit of MIM.
Read the full SharkReach (SHRK) Press Release at: http://financialnewsmedia.com/profiles/shrk.html
For over 30 years, Mastermind has been an award winning industry leader. Advertising Age, the leading global source of news, intelligence and conversation for marketing and media communities, designated Mastermind as "An Ad Age Top-50 integrated marketing agency" with experience working with a diverse group of clients over its 30+ year history. Its clients include, The Home Depot, Hanes, Georgia-Pacific, Macy's, Bayer and CITI. Steve Smith, the Company's CEO said "This transaction with Mastermind gives us immediate access to its Fortune 100 clients in a variety of industries, providing us with the opportunity to introduce influencer marketing and integrated data services to Mastermind's award winning creative, social and strategy to our client base. We also immediately acquire a steady cash flow with annual growth, a stellar management team,with top line revenues last year of just under $3,900,000 with EBITDA of over 30% (based upon internal unaudited financial information provided by Mastermind in connection with the Merger Agreement). This is the first step in our plan to build shareholder value through additional mergers, acquisitions and strategic alliances.
In additional acquisition news from the markets: Salesforce (NYSE: CRM), the Customer Success Platform and the world's #1 CRM company, today announced it has completed its acquisition of Demandware, the global cloud leader in the multi-billion dollar digital commerce market. As the new Salesforce Commerce Cloud, Demandware will be an integral part of the Customer Success Platform, allowing any company to transform the way they connect with customers 1-to-1 across sales, service, marketing, communities, analytics, IoT, platform and now commerce.
MeetMe, Inc. (NASDAQ: MEET), a public market leader for social discovery, recently announced it has executed a definitive agreement to acquire Skout, a leading global mobile network for meeting new people, for $28.5 million in cash and approximately 5.37 million common shares of MeetMe, implying an enterprise value of $54.6 million based on MeetMe's closing stock price on June 24, 2016. This acquisition promotes MeetMe and Skout's shared vision to create the largest global service for meeting and chatting with new people. The acquisition is expected to provide greater scale for monetization and increased profitability for the combined company.
In other technology news developments: LinkedIn (NYSE: LNKD), the world's largest professional network on the Internet, announced that it will release its second quarter 2016 business results after market close onThursday, August 4th, 2016. Due to the pending merger with Microsoft, LinkedIn does not plan to host a conference call for its second quarter business results.
Twitter, Inc. (NYSE: TWTR) and Pac-12 Networks announced today that Twitter will be the premier streaming partner for Pac-12 Plus, a broadband network of live events produced by the conference's 12 universities, with at least 150 games over the 2016-2017 academic year live streamed to fans on Twitter.
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