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Softbank Interactive Marketing, one of the interactive industry’s leading ad sales rep firms, is out looking for cash at the request of majority investor Softbank Group.
“Softbank would like additional investors for SIM,” confirmed Caroline Vanderlip, chief executive of Softbank Interactive Marketing. The Los Angeles-based company has retained media investment specialists Veronis, Suhler & Associates to begin shopping the company to potential investors.
“Softbank decided for strategy reasons that SIM is not on the top of the priority chart for funds,” Vanderlip added.
Softbank is willing to accept a variety of offers including venture capital or private placement investment.
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