Snyder Communications buys Va. consultant

MARYLAND WATCH

October 08, 1998

Bethesda-based Snyder Communications Inc., a developer of marketing programs for large corporations, said it bought closely held Response Marketing Group yesterday for $52 million in stock to speed its international growth.

Response Marketing of Richmond, Va., provides consulting services ranging from database modeling to analytical work for the technology, financial, health care and automotive industries. The company's customers include Intel Corp., Microsoft Corp., BankAmerica Corp., Fleet Financial Group Inc. and Prudential Securities Inc.

Snyder will "leverage" its international marketing channels to build Resource Marketing's customer base, Daniel M. Snyder, chairman and chief executive, said in a release.

"We will also capitalize on our momentum and take advantage of the cross-selling opportunities brought by this acquisition," he said.

Snyder said the acquisition of RMG will be accounted for as a pooling of interests and will add to 1998 and 1999 earnings.

Snyder shares closed down $3.8125 yesterday at $30.4375.

Pub Date: 10/08/98

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