SEL: WebSourced Acquires Search Engine Marketing Company

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Search marketing in the new media era.

June 07, 2004

WebSourced Acquires Search Engine Marketing Company

We've been talking about acquisitions for a while now. Today we announced the first one.

WebSourced, Inc. Acquires Search Engine Marketing Company, Engine Studio, Inc.

The Global Leader in Search Engine Marketing adds Global Promoter and Turbo Promoter to its KeywordRanking brand.

DEERFIELD, Ill--June 7, 2004-- CGI Holding Corporation (OTCBB:CGIH) today announced that its WebSourced, Inc. subsidiary has acquired the assets of Engine Studio, Inc., Merritt Island, Florida. Engine Studio, Inc. has two popular brands, www.GlobalPromoter.com and www.TurboPromoter.com, both offering search engine marketing, web design and web application development. With the acquisition, WebSourced has added Turbo Promoter's comprehensive search engine knowledge-base and proprietary tools to its KeywordRanking services. Turbo Promoter currently has over 10,000 active users.

In the acquisition, the stockholders of Engine Studio received an aggregate of 40,000 shares of the Company's Common Stock, and have the right to earn up to 60,000 additional shares contingent upon the acquired assets achieving certain revenue milestones during the next two years.

Gerard M. Jacobs, the President and CEO of CGI Holding Corporation stated, "I consider this an important acquisition. The impending IPO of Google has generated tremendous media interest in the search engine marketing industry, and potential clients of WebSourced are increasingly showing an awareness of and appreciation for sophisticated search engine marketing expertise. Engine Studio has distinguished itself with a solid track record and outstanding results for its clients. Engine Studio's proprietary tools, combined with the creativity and technical skills of its President Jason Dowdell, will allow WebSourced to strengthen its already unparalleled service offerings. Jason Dowdell's decision to join our team also will undoubtedly help us in regard to several other on-going acquisition negotiations."

Engine Studio's clients vary from small businesses to fortune 500 companies.

Jason Dowdell, the company's founder and President stated, "I've been approached by numerous potential buyers, but I chose WebSourced because of their excellent management, unique corporate culture that is focused on the employee, its high level of service to their clients and customer satisfaction."

Steven "Pat" Martin, President and CEO of WebSourced, Inc. stated, "This is an exciting time in the growth of WebSourced. The addition of Engine Studio will continue to strengthen our position as the number one leader in search engine marketing. Engine Studio has over 10,000 active users of its sophisticated search engine marketing tools. We feel very confident that many of these users are ready to step-up to one of WebSourced's premiere marketing services. We are all looking forward to working with Jason Dowdell and his team."

Welcome aboard Jason and his team. I've had a chance to get to know Jason over the last 6 months and he is a very talented and likeable person. His company has some great SEO tools which will bring tremendous value to WebSourced and KeywordRanking.

Andy Beal | permalink | +marktd |

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