Deluxe Corporation is spending $30 million to hasten its move outside of its traditional check printing and marketing business. The company is purchasing search engine marketing firm MerchEngines, as well as some assets of web hosting service Aplus.net. Private equity firm Catalyst Investors is a majority shareholder in Aplus.
Deluxe said that it expects both businesses to bring in $7 million in revenue during the second half of the year (Deluxe’s total revenue last year was $1.4 billion). The acquisitions follow Deluxe’s purchase a year ago of business networking site PartnerUp, as well as Hostopia, which offers web hosting services for businesses. With the purchase of MerchEngines, Hostopia will now be able to offer search engine marketing services in addition to web hosting. Release.
By Joseph Tartakoff