Canada’s MDC Communications Corp has acquired a controlling interest in 35-person internet marketing outfit CyberSight Inc. Financial terms of the deal were not disclosed. Toronto-based MDC provides marketing and communications services, as well as secure transaction products for internet commerce. It wanted CyberSight for its expertise in consulting, web design and online media planning and buying services. MDC says it will use the acquisition to bolster its Communications and Marketing Services division, which it plans to spin out through an IPO within the next 18 months. It figures to be able to sell CyberSight’s internet services to its existing customer base and thus grab a piece of the estimated $3.4bn that was spent in 1997 on internet retailing and advertising. MDC says the acquisitions will continue as it keeps building critical mass ahead of the IPO.
