Taking pages from the IAC playbook, CGI continues to gobble up companies and raise capital. With $17.5 million of fresh cash from Wachovia Bank, CGI has enough bank to continue the acquisition trend.
Kowabunga is most well-know property and likely a cash cow, I know they get some of my money every month. Many of the other companies seem like they were bought at a particular time for reasons that may not make as much sense today. European educational content, secure ad feeds and lot’s of marketing companies fill out the roster. Just today, they announced the purchase of Morex, a company specializing in marketing to expecting mothers.
The synergy between the myriad companies in the CGI stable remains only partially clear. Interchange appears to be CGI’s closest competitor, time to go look at the financials.
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