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Bridgeline Digital Expands to Philadelphia Region Through $1.7M Asset Purchase 05/19/2010

Posted by Morse Barnes-Brown Pendleton in Client News.
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Bridgeline DigitalOn May 11th, MBBP client Bridgeline Digital, Inc. announced that it had acquired TMX Interactive, a company that provides wide-ranging IT services, including web application development and design,  in the Philadelphia area. TMX was purchased for $1.7 Million in “cash, debt, earn out, and deferred revenue consideration.” In regards to the acquisition, Thomas L. Massie, Bridgeline Digital’s President and CEO, stated:

We’re very excited about our merger with the TMX team. They have outstanding development and delivery capabilities. In addition, we believe their deep knowledge in web content management will greatly enhance iAPPS distribution.

For more information, please see Bridgeline Digital’s press release.

MBBP serves as counsel to Bridgeline Digital, Inc., and advised it in connection with the structuring, negotiation and documentation of this transaction.


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