PowerOne Corporation Acquires PowerPlay Marketing
CHICAGO, April 16, 2014—PowerOne’s management team is constantly evaluating opportunities to augment the company’s organic growth through the acquisition of key assets. Today, the company announced the buyout of PowerPlay Marketing LLC, which held an exclusive Master Sales Agreement (MSA) with PowerOne.
“This is a significant step forward for PowerOne,” stated George Wahbeh, CEO and president of the company. “By absorbing the customer base and pipeline of PPM, not to mention the many industry experts we’ve welcomed to our staff, PowerOne has greatly accelerated its growth plan. As we fully integrate PPMs assets into our company, I am certain we will realize even more benefit from the acquisition in the months to come.”
The acquisition of PPM achieved several critically important goals for PowerOne. First, it eliminated the exclusivity provision in the MSA, allowing the company to grow sales and marketing efforts internally, as well as through partnering organizations that hold specific industry or market experience.
PowerOne also booked approximately $1.5M in assets through the purchase, in addition to bringing key personnel in-house. These highly experienced staff members possess expertise in customer acquisition and marketing functions, including negotiating and managing independent sales offices, pricing desk processes, systems design and implementation and quality control.