Boundless Network Acquires PromoCorp
September 1, 2009
Austin, TX-based distributor Boundless Network (asi/143717) announced this afternoon that it has completed a deal to acquire PromoCorp (asi/300410), an Alexandria, VA-based nine-year-old distributor firm. Financial terms of the deal were not released. This is the second distributor that Boundless Network has acquired in Virginia within the past six months. The company purchased Venture Marketing in April.
Boundless Network President Jason Black said this deal complements the other acquisitions that the company has made over the past two years. In fact, Boundless has now completed 12 acquisitions in the past 24 months, including four in 2009. “The industry is changing at a rapid rate,” Black said. “Top industry professionals like the PromoCorp team see the value of having a strong competitive advantage for their clients and a technology platform to support the growth of their business in these challenging economic times.”
Boundless Network has grown from two salespeople four years ago to more than 140 today. The company most recently reported annual revenues to ASI’s CreditConnect system as $22 million, while PromoCorp reported revenues of $5 million.