In much needed positive news: Affiliate Crossing, company originally founded by Ricky Ahuja and OfferVision, Inc. today announced that they have entered into a definitive merger agreement under which Affiliate Crossing will acquire OfferVision, a leading private affiliate network focusing on the auto insurance and finance verticals. The management of both companies have unanimously approved the merger, which is expected to be completed by April 30, 2015.
“The acquisition of Offer Vision demonstrates our commitment to prudently create value for our partners and deliver incremental revenue and growth in the near and long term,” said Christian Kautz Scanavy, Chief Operating Officer, Affiliate Crossing. “In addition, Offer Vision’s business aligns well with our new global initiative and is an excellent strategic fit for our business, which will benefit from a significantly enhanced product portfolio in growing markets. Coupled with Affiliate Crossing’s global reach, OfferVision assets are expected to drive greater sustainability for our business over the long term.”
This strategically complementary combination will add a growing revenue stream and a platform for growth for Affiliate Crossing’s international business. The combination also reinforces AC’s growth strategy to build a broader portfolio of products and services. Affiliate Crossing will also use its existing capabilities, global scale and affiliate expertise to significantly expand the reach of OfferVision’s products, which are currently distributed primarily in the United States, to India and key emerging markets, where AC has a significant presence.
“The merger with Affiliate Crossing has the potential to fundamentally improve the growth trajectory of the two entities, vault them into a leadership position in the large and growing insurance marketplace by combining the specialized talent and capabilities of both companies,” said Adam Brown, CEO, Offer Vision.
Brown goes on to say, “The Affiliate Crossing – Offer Vision combination is an excellent strategic fit, presenting a unique opportunity to leverage the complementary strengths of our robust portfolios and rich pipelines.”
The transaction is subject to customary closing conditions and is expected to close and complete by April 30, 2015.
