Business-to-business Summit Business Media LLC last week acquired Agent Media Corp., a database and marketing company for the life, health and annuity segments of the insurance industry. The deal increases Summit's presence in the life and health insurance segment.
The deal includes Agent Media products such as Agent's Sales Journal (both national and regional editions) and Insurance Marketing, as well as more unique products such as The Agent's Market Pack, a direct response agent recruitment tool, and eProducer Connect, an email list of more than 1.6 million licensed agents and registered representatives.
This deal is a smart move by Summit, which wanted to bolster is market position in the insurance industry through the acquisition of key industry properties. When companies decide to buy--and not build--to either establish or increase their presence in a desired market, it's imperative they put themselves in position to hit the ground running. Summit appears to be doing just that by acquiring a strong market player with an innovative portfolio of products and services that don't need any help. They have an established customer base that will likely continue to grow as a result of Summit's ownership. This is an acquisition strategy to model. Summit says more acquisitions are planned for the future. They will most definitely fit the formula of this latest deal.