New York—Teen apparel cataloger Alloy Online has agreed to acquire Chicago-based college and high school advertising company CASS Communications. Alloy has issued approximately 1.7 million shares of stock and paid $9.7 million in cash and future performance-based consideration to complete the acquisition. The transaction is expected to close in early August. Alloy anticipates that CASS will contribute approximately $4 million in revenue and $400,000 in operating income for the balance of fiscal 2001. For fiscal 2002, Alloy expects CASS to produce approximately $8 million in revenue and $1.6 million in operating income.
Alloy Acquires CASS Communications
Jul 11, 2001 9:30 PM By MCM staff