Nurun Inks Agreement to Acquire China Intractive

Filed in archive Mergers and Acquisitions on October 5, 2005

Nurun Inc., a subsidiary of Quebecor Media Inc., has signed an agreement to acquire China Interactive, a privately held company based in Shanghai, for its first entry into the Asian market.

Nurun described China Interactive as one of China's leading interactive marketing agencies and includes both a global and local blue-chip client base such as FAW-VW-Volkswagen, FAW-VW-audi, Standard Chartered Bank, Chivas Regal, Pepsi and L'Oreal with services ranging from integrated marketing communications strategies to Web development and online loyalty programs.

The acquisition price was not disclosed, but includes a combination of cash and common shares of Nurun for China Interactive, which has a staff of 30. China Interactive has been previously venture supported by Doll Capital Management, Accel Partners, Itochu Technology Ventures.

Nurun's CEO Jacques-Herve Roubert underscores the importance of the acquisition.

Roubert is quick to acknowledge that "this acquisition will help us better anticipate new market trends and innovations giving us access to a laboratory in China, a country that offers both cutting-edge technologies and advanced integrated marketing practices."