E-Mail Marketers Merge

NEW YORK — E-mail marketers Naviant and eDirect revealed plans today to merge, creating a company with a database of 60 million consumer profiles. With the merger, eDirect becomes the majority stockholder owning two-thirds of the stock with investors; Naviant owns the remainder. Further financial terms were not disclosed.

Michael Brauser, former president and founder of eDirect, becomes CEO and president of the new entity, which will retain the name Naviant. Charles Stryker, previously head of Naviant, will take the title of chairman. About 150 employees will remain after the consolidation, which will involve about 100 layoffs in Naviant’s Newton Square, Pa. operation and satellite offices. The new company will be headquartered at the offices of eDirect in Boca Raton, Fla.

eDirect projects that it will bring in $30 million in revenue in 2001, while Naviant estimates about $20 million in revenue this year. Combined, the new company plans to derive $60 million in revenue next year.

Publish date: November 30, 2001 https://stage.adweek.com/brand-marketing/e-mail-marketers-merge-53243/ © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT