ST. PAUL -- Deluxe Corp., a check printer and business service provider, said Tuesday that it has acquired internet marketing services company OrangeSoda Inc. for about $27.7 million in cash.
Deluxe, which is based in St. Paul, Minn., said the addition of OrangeSoda will accelerate revenue growth at its marketing solutions business.
OrangeSoda specializes in search, mobile and social media campaign strategies for small businesses. It employs about 175 people and will continue to be based in American Fork, Utah, Deluxe said.
Deluxe said it expects the acquisition to generate about $15 million in incremental revenue, but reduce its earnings per share slightly for the rest of 2012, after taking into account transaction costs and acquisition-related amortization expense, the company said.
Deluxe Corp. shares finished at $22.38 on Monday. Deluxe shares are down from a 52-week high of $26.90 set in early February. They traded as low as $17.50 per share last August.
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Copyright 2012 The Associated Press.
