Vocus CMO: We’ve Got $100M In The Bank, Which Gives Us ‘Ability To Look For Acquisitions’

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By Joe Ciarallo Comment

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It seems that everyone and their brother is trying to get into the PR services market as of late. One company that has been in the game since 1999 is PR software company Vocus (NasdaqGM: VOCS). CMO William R. Wagner told PRNewser today the company is “still growing” throughout 2009.

Vocus has approximately $100 million cash on hand (Vocus’ Q3 earnings show $100,650,000 to be exact), which gives the company “the ability to look for acquisitions,” he said. Potential acquisitions could include international expansion, a “tech buy” or a “roll up” or “customer buy” in which the company would acquire a similar service or company for their customer base.

Vocus acquired press release distribution company PRWeb in August, 2006 for $28 million, consisting of $20.8 million in cash and 494,543 shares of Vocus common stock. Sources tell PRNewser PRWeb had also received interest at the time from PRNewswire and Business Wire. Wagner said PRWeb now accounts for about 15 to 20% of Vocus’ revenue.

RELATED: Vocus Announces Q3 Earnings: Revenue up 5%

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