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Valassis acquires Prevision

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Livonia, Mich.--Valassis Communications Inc. said Tuesday it has completed acquisition of 80% of customer relationship marketing company PreVision Marketing. Valassis said the PreVision acquisition will give it the strategic, creative, database and analysis capabilities necessary to deploy CRM solutions for retail clients. CRM is the technique of using computers to integrate all of the ways a customer can interact with a company, including direct mail, e-mail, Web sites, call centers and sales forces. Valassis specializes in selling systems to the grocery industry, but also counts such companies as Toys R Us, US West and Gap as customers. Valassis did not disclose dollar terms of the transaction, but said the PreVision acquisition was expected to be dilutive of its stock for the first 18 months after the transaction within the range of 4 cents to 8 cents per share. PreVision's 1999 revenues were about $14 million and are expected to grow to $25 million in 2000, the company said.
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