BabyZone integration kicks into high gear
Briefs | 04/11/2007 11:02 am EDT
Toronto's Kaboose Inc. has accelerated the integration BabyZone by amalgamating the its sales, marketing, editorial and technology teams with Kaboose's existing teams. The company has also accelerated the 2007 earn-out payments to the former BabyZone shareholders and has placed US$10 million into an escrow account that will be paid in March 2008. An additional US$500,000 million will be paid based on certain performance targets. Kaboose co-founder and CEO Jason DeZwirek referred to this accelerated integration as an "important step" for BabyZone as the new member of the Kaboose family. "Since the acquisition in June 2006, BabyZone has consistently performed above our expectations," he said.
Kaboose also recently announced the acquisiton of Amazing Moms Inc., a Shokan NY-based site focusing on family parties, outings and activities, for US$750,000 in cash with additional considerations based on post-acquistion performance. Katherine Bennett, who founded the site in 1999, will also join the editorial team at Kaboose.