STOCKS TO BUY: We have identified several stocks that can potentially TRIPLE. Learn more!

TheStreet.com Buys Corsis

Updated from 2:31 p.m. EDT

Expanding its reach into online advertising, TheStreet.com (TSCM), publisher of this Web site, announced today that it is purchasing interactive marketing services business Corsis, making TheStreet.com a "one-stop shop" for advertisers, marketers and content publishers for interactive advertising solutions.

The purchase includes Promotions.com, an online promotions agency that implements interactive promotions for some of the largest brands in the world.

"The acquisition of Corsis and Promotions.com will address our advertisers' demand for more integrated marketing campaigns that are being requested of all publishers," said Thomas Clarke, TheStreet.com CEO and chairman. "This acquisition will provide us with a robust technology platform, setting the foundation for the integration of future acquisitions, and we expect that it will allow us to expand our gross margins."

TheStreet.com said it will pay $20.7 million in a mix of cash and stock for the firm, representing about two times historical revenue. It says the purchase will be immediately accretive to earnings.

Clarke explained that interactive marketing services are growing faster and have higher margins than more traditional advertising. In addition, the acquired company would not depend on the growth of existing TheStreet.com businesses, but rather would be able to function as a standalone business, he said.

The types of interactive service provided by Corsis are already being demanded by potential advertisers on TheStreet.com and its sister sites, RealMoney.com and Stockpickr.com, Clarke added.

Corsis counts Kraft Foods and HSBC among its clients, as well as agencies like The Marketing Store.

"With the resources, brand recognition and network of advertisers of TheStreet.com behind us, we believe we can capture this opportunity and expand our leadership in the space," said Gregg Alwine, co-president of Corsis.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
TRY IT FREE

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
TRY IT FREE
New! $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
TRY IT FREE

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
TRY IT FREE

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
TRY IT FREE

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass + 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
TRY IT FREE

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 15,318.23 138.38 0.91%
NASDAQ 3,482.18 30.05 0.87%
S&P 500 1,651.81 12.77 0.78%
US 10 Yr 2.182% +0.011

Brokerage Partners

Advertising Partners
Special Features

Free Newsletters from TheStreet

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

We respect your privacy. Manage Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs