Alloy acquires 360 Youth

Nov 27, 2001 10:30 PM  By

Teen apparel and accessories cataloger Alloy is also a growing teen media company, as its latest acquisition affirms. The New York-based company has bought 360 Youth, the flagship division of marketing services company MarketSource Corp. 360 Youth provides media and marketing strategies to advertisers targeting the teen and college markets.

Under the terms of the agreement, Alloy is to issue approximately 1.8 million shares of its common stock and pay approximately $13.4 million in cash and future performance-based consideration to complete the acquisition. In a statement, Alloy chairman/CEO Matt Diamond said the company expects the acquisition to generate $15 million-$17 million in revenue and $3 million in operating income in fiscal 2002.