Investment fund eVerger.com and online direct marketing solutions provider iQ.com have launched a new venture, iQEurope. This follows eVerger’s $14m investment in iQ last month.
Explaining his company’s investment strategy, Andrew Burke, chief executive of eVerger, said: “This is an example of how eVerger works with its portfolio companies, using our management experience and knowledge of the market to support the global growth of companies. We believe iQEurope will be the leading online direct marketing company in Europe within the next two years.
As part of the deal, CouponsNow, a European incentives website, will be merged into iQEurope. Chris Davies and Stephen Cudd, who are currently joint chief executives of of CouponsNow, will maintain their positions in the merged company. CouponsNow will also bring its client base, which includes Blockbuster, Central Tyre/Pirelli, Burger King, Boots and GMTV, to the new venture.
iQ.com is an online direct marketing solutions provider based in California, US. The European venture will be based in London and will build on iQ’s US and Asian client base by targeting leading European companies. One existing European client is Scottish Courage Brands, the UK brewer.
eVerger is a joint venture established by Aegis Group, a communications and media agency, and Warburg Pincus, the global private equity firm.