Watch CBSN Live

Lead Gen Firm Morlex Buys Online Marketer Ad Authority For $3.5 Million

This story was written by David Kaplan.

Lead gen provider Morlex has acquired internet marketing company Ad Authority for $3.5 million in cash, 6.5 million shares of Morlex common stock and a $4.5 million secured note to Iakona, Inc. Iakona is owned by Jason Kulpa, the CEO of Ad Authority who becomes CEO of the merged Ad Authority Group. To support the acquisition, Morlex closed a $4.4 million private placement of its common stock and convertible notes. Morlex's lead gen solutions, which are aimed at the personal finance and trading market, will be combined with Ad Authority's own lead management tools, as well as its search engine marketing offerings and affiliate ad network. Release

By David Kaplan

View CBS News In