KING OF PRUSSIA, Pa. and CAMPBELL, Calif., April 6 /PRNewswire-FirstCall/ -- gsi interactive(SM), the digital marketing services agency of leading e-commerce solutions provider, GSI Commerce Inc. , today announced it has acquired Silverlign Group Inc., an award-winning integrated marketing strategy and design agency based in the San Francisco Bay Area. The acquisition establishes a West Coast presence for gsi interactive and adds several new client relationships.
"The acquisition of Silverlign is a strategic fit and complements our growing digital agency business," said Nick Pahade, president of gsi interactive. "It provides our agency with a successful and highly talented West Coast team that delivers award-winning work for clients. In addition to Silverlign's history of growth, we gain several new client relationships and we add resources and new solutions for current gsi interactive clients."
"We are very excited to become a part of GSI's interactive marketing services division and we look forward to immediately contributing our experience and expertise to gsi interactive as it grows its opportunity in this space," said Randy E. Basso, president and strategy director of Silverlign. "This is an excellent fit for our agency and for our clients as we become part of an organization that has been successful in helping retailers and brands grow their businesses in a digital world."
Terms of the deal were not disclosed. Silverlign will operate as a stand-alone subsidiary of gsi interactive and the agency's two founders, Basso and Tim Kain, the agency's executive creative director, will continue to lead Silverlign's operations and report to Pahade. This acquisition follows gsi interactive's expansion into New York City with the opening of an office there in March.
Silverlign's core competencies include research and strategy, integrated design and digital solutions. Based on these strengths, the agency provides integrated brand and marketing strategy, Web strategy and design, brand communications and advertising, online marketing, search engine optimization, user experience and usability, and emerging media services. The majority of the agency's business is generated from clients in the consumer retail, travel and technology industries.
Silverlign was established in 2001 by founders and current owners Basso and Kain. Silverlign employs approximately 25 full-time professionals that provide integrated strategy and design agency services to approximately 23 clients.
Gridley & Company, a New York City-based boutique investment bank, provided GSI with advisory services on the deal.
About GSI Commerce
GSI Commerce(R) (http://www.gsicommerce.com/) is a leading provider of services that enable e-commerce, multichannel retailing and interactive marketing for large, business-to-consumer (b2c) enterprises in the U.S. and internationally. We deliver customized e-commerce solutions through an e-commerce platform, which is comprised of technology, fulfillment and customer care. We offer each of the platform's components on a modular basis, or as part of an integrated, end-to-end solution. We also offer a full suite of interactive marketing services through two divisions, gsi interactive(SM) and e-Dialog (http://www.e-dialog.com/).
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements made in this release, other than statements of historical fact, are forward-looking statements. The words "look forward to," "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "will," "would," "should," "could," "guidance," "potential," "opportunity," "continue," "project," "forecast," "confident," "prospects," "schedule," "designed," "future," "discussions," "if," "objective," and similar expressions typically are used to identify forward-looking statements. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business of GSI Commerce. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied by these forward-looking statements. Factors which may affect GSI Commerce's business, financial condition and operating results include the effects of changes in the economy, consumer spending, the financial markets and the industries in which GSI Commerce and its clients operate, changes affecting the Internet and e-commerce, the ability of GSI Commerce to develop and maintain relationships with strategic clients and suppliers and the timing of the establishment, extension or termination of its relationships with strategic clients, the ability of GSI Commerce to timely and successfully develop, maintain and protect its technology, confidential and proprietary information and product and service offerings and execute operationally, the ability of GSI Commerce to attract and retain qualified personnel, and the performance of acquired businesses. More information about potential factors that could affect GSI Commerce can be found in its most recent Form 10-K, Form 10-Q and other reports and statements filed by GSI Commerce with the SEC. GSI Commerce expressly disclaims any intent or obligation to update these forward-looking statements.
Contact: Greg Ryan Director, Corporate Communication GSI Commerce, Inc. 610.491.7294 ryang@gsicommerce.com
gsi interactive
CONTACT: Greg Ryan, Director, Corporate Communication, GSI Commerce,
Inc., +1-610-491-7294, ryang@gsicommerce.com
Web Site: http://www.gsicommerce.com/
