Updated from 2:31 p.m. EDT
Expanding its reach into online advertising, TheStreet.com (TSCM Quote), 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." ...
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