Advertising and direct marketing agency Valassis Communications, Livonia, Mich., acquired 80% of customer relationship marketing company PreVision Marketing, Lincoln, Mass., for an undisclosed amount. The purchase, funded by a combination of cash and stock, Valassis said, is part of its strategy to grow via alliances and acquisitions. and it hopes this deal will increase its one-to-one loyalty marketing capabilities.The partnership with PreVision will expand Valassis' current relationship marketing business--which serves the grocery retail industry--by adding clients including The Gap, Qwest, Toys "R" Us and the U.S. Postal Service.
Copyright August 2000, Crain Communications Inc.