CGI Holding Corporation today announced that its WebSourced, Inc. subsidiary has acquired the assets of Engine Studio, Inc. Engine Studio has two sites, www.GlobalPromoter.com and www.TurboPromoter.com, that offer search engine marketing services.
The acquisition adds TurboPromoter’s search engine knowledge-base and proprietary tools to its KeywordRanking services. TurboPromoter currently has over 10,000 active users.
The agreement called for stockholders of Engine Studio to receive an aggregate of 40,000 shares of the CGI Holding’s Common Stock, and have the right to earn up to 60,000 additional shares. This is dependent on acquired assets reaching certain revenue goals over the next two years.
Gerard M. Jacobs, the President and CEO of CGI Holding Corporation stated, “I consider this an important acquisition. The impending IPO of Google has generated tremendous media interest in the search engine marketing industry, and potential clients of WebSourced are increasingly showing an awareness of and appreciation for sophisticated search engine marketing expertise.”
“Engine Studio has distinguished itself with a solid track record and outstanding results for its clients. Engine Studio’s proprietary tools, combined with the creativity and technical skills of its President Jason Dowdell, will allow WebSourced to strengthen its already unparalleled service offerings. Jason Dowdell’s decision to join our team also will undoubtedly help us in regard to several other on-going acquisition negotiations.”
Engine Studio’s clients vary from small businesses to fortune 500 companies.
Jason Dowdell, the company’s founder and President stated, “I’ve been approached by numerous potential buyers, but I chose WebSourced because of their excellent management, unique corporate culture that is focused on the employee, its high level of service to their clients and customer satisfaction.”
WebSourced is currently the only subsidiary of CGI Holding Corporation, based in Deerfield, Illinois. WebSourced assists companies in marketing and advertising on Google, Yahoo, and other search engines.
Steven “Pat” Martin, President and CEO of WebSourced, Inc. stated, “This is an exciting time in the growth of WebSourced. The addition of Engine Studio will continue to strengthen our position as the number one leader in search engine marketing. Engine Studio has over 10,000 active users of its sophisticated search engine marketing tools. We feel very confident that many of these users are ready to step-up to one of WebSourced’s premiere marketing services. We are all looking forward to working with Jason Dowdell and his team.”
Murdok | Breaking eBusiness News
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