Seeking to gain access to a wider range of retailers, Valassis Communications has acquired 80 percent of customer relationship marketing firm PreVision Marketing. Terms of the cash and stock deal were not disclosed.
Valassis' current relationship marketing group focuses on delivering one-to-one loyalty programs to the grocery retail industry, while PreVision, Lincoln, Mass., counts retail clients such as Toys R Us, US West and The Gap, as well as grocery retailers. The deal is part of the Livonia, Mich., company's overall business strategy to grow through strategic alliances and acquisitions.
PreVision, which has 150 em-ployees, had 1999 revenues of $14 million. The company predicts that it will reach $25 million in revenues this year.