CGI's subsidiary WebSourced Inc., a company that assists companies in marketing and advertising on popular search engines, announced the acquisition of the assets of the Merritt Island, Fla.- based Engine Studio Inc., a provider of search engine marketing, Web design and Web application development.
According to the new deal, the shareholders of Engine Studio will receive 40,000 shares of the CGI's common stock. They will as well be authorized to earn up to 60,000 additional shares. The additional shares will be based on the acquired assets and in the course of the next two years certain levels of revenues will be expected.
The acquisition has enabled WebSourced to add Turbo Promoter's comprehensive search engine knowledge-base and proprietary tools to its Keyword Ranking services. Additional details about the new agreement have no been revealed.
