(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.
Ciscom Corp. entered into an agreement to acquire a second company with current yearly revenue over $20M per year with healthy/positive cash flows and profitability. The acquisition is projected to close in February 2022.
Ciscom Corp. acquired Market Focus Direct (“MFD”). Mr. Paul Gaynor, Founder and President of MFD will continue in his role as President of MFD and has joined Ciscom’s Board of Directors.