News

CISCOM CORP COMPLETES THE ACQUISITION OF PROSPECT MEDIA GROUP

 

 (Toronto, ON. September 30,2022) Ciscom Corp. (“Ciscom” or “the Company”) is pleased to announce it has completed the acquisition of Prospect Media Group Ltd. (“PMG”). This is Ciscom’s second acquisition. “We are very pleased to have completed the acquisition of PMG, a significant addition to Ciscom portfolio. We are focused on delivering shareholder value”, said Drew A. Reid Ciscom’s, Executive Chair & CEO. “The Ciscom team has raised capital and secured financing in a difficult environment in order to close the PMG acquisition which is a testimony to the PMG and the Ciscom teams”, said Michel Pepin Ciscom’s President & CFO. 

“When I acquired PMG, I had plans to modernize the offering with the introduction of digital services. Today, our successes are essentially our clients’ successes, where their marketing and advertising spend yields solid ROI. Nimbleness, accuracy, timeliness and scalability have been key to our long-term client relationships. Today, we are excited to join Ciscom and we look forward to further build and grow the Company.” said Dave Mathews, President and Managing Director of PMG. 

Headquartered in Toronto Ontario, PMG is a AdTech driven organization that has developed proprietary software applications which enable the processing of big data efficiently. On a day-to-day basis, PMG provides analytics, customer acquisition strategies, digital marketing, direct mail, flyer distribution management, and related integrated media services to Canadian retailers and business-to-consumer companies. PMG provides customized marketing solutions to retail customers in a wide range of industries. 

“We are delighted to welcome Dave and the entire PMG team and organization into the Ciscom’s family of companies. Ciscom and PMG have been in partnership discussions for some time and the timing is ideal. PMG is the second acquisition for Ciscom, following the acquisition of a complementary company, Market Focus Direct Inc (“MFD”) in September 2021. We are delivering on strategy and working at increasing shareholder value.” stated Drew Reid and Michel Pepin. 

Michel Pepin is interviewed by InvestorIntel

 

Ciscom Corp. is pleased to announce that we have signed a Share Purchase Agreement (SPA) with Prospect Media Group (PMG) on January 26, 2022. This is Ciscom’s second acquisition, and it is for 100% of all outstanding shares of PMG. www.prospectmedia.com

 

PMG is a complementary acquisition to Market Focus Direct (MFD) with 2021 revenue of ~$30M in 2021 with a healthy positive EBITDA. The growth trend continues in 2022 fueled by deeper relationships with current clients, new business and expanded products and services. PMG has been in business for 20+ years and has been reporting solid growth over the years. PMG has gone through Covid splendidly – both revenue and bottom line are up in 2020 and 2021 – year over year since 2019, and in the midst of the Covid pandemic. As PMG is not a cash intensive business and has no debt, it produces cash flows closely aligned to its profit – a great positive. It is projected that the transaction will close at the end February 2022.