- Young & Rubicam has agreed to acquire KnowledgeBase Marketing, a privately held company specialising in database marketing, in a stock and cash deal valued at approximately $175 million (£108 million).
KnowledgeBase Marketing is headquartered in Chapel Hill, North Carolina, and has offices in eight cities throughout North America.
The company develops and manages both e-commerce and marketing database programmes for over 200 clients in the energy, financial services, healthcare, retail and technology industries.
Ed Vick, chief operating officer of Young & Rubicam, said: "By combining their expertise in this emerging area with that of other Young & Rubicam companies, we believe we can set the standard for both web-based and media-based customer relationship management solutions. As we've said all along, we'll continue to look for acquisitions such as this one, which extend our capabilities and our marketing expertise, to help our clients achieve results in the marketplace."
KnowledgeBase will continue to operate as a stand-alone operation and will report into Jay Bingle, chief executive officer at Y&R's direct marketing network, Wunderman Cato Johnson.