CKS acquires SiteSpecific for $6.5 mil

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As expected, CKS Group, Cupertino, Calif., announced its acquisition of interactive shop SiteSpecific, New York, on Friday. CKS acquired 100% of the capital stock of SiteSpecific for approximately $6.5 million in CKS stock.

Under terms of the new relationship, SiteSpecific minority investor Harte-Hanks Communications will transport its stake into a proportional investment in CKS and will no longer sit on the SiteSpecific board. Seth Goldstein, SiteSpecific's 26-year-old president, said the partnership will help his direct marketing oriented Web shop build more advertising programs with offline media components and tap new markets. CKS Chairman-CEO Mark Kvamme and Exec VP Bob Clarkson join SiteSpecific's board.

SiteSpecific has worked with clients including Sabre Interactive/Travelocity, NECX and N2K/Music Boulevard.

Copyright May 1997, Crain Communications Inc.

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