FOSTER CITY, Calif., April 16, 2015 (GLOBE NEWSWIRE) -- QuinStreet Inc. (Nasdaq:QNST), the leader in vertical marketing and media online, today announced the acquisition of Vemm LLC, its first financial services acquisition in Brazil. QuinStreet has already been operating in the country and has established a leadership position in the Education market. The Vemm acquisition expands that leadership into the Financial Services vertical, where Vemm is already positioned as a provider of high-quality leads and clicks.
Vemm LLC is a Brazil-based online lead generation company created in 2012 by Simon Birrell and Eli Zelkha. Drawing on experience in the US and European markets, Vemm has built a proprietary technology to source and evaluate leads and traffic, and has grown rapidly to serve some of the key players in auto, life and health insurance, as well as other personal finance markets in Brazil.
QuinStreet has been a pioneer of performance marketing in the US since 1999 and entered the Brazilian market in 2012. "We have applied QuinStreet's leading technology products and added call center services, adapting to the Brazilian market. Those capabilities, coupled with world class expertise and analytical support are helping Marketing executives increase and get the most out of their online marketing spend," said Pedro Yue, Vice President and General Manager for QuinStreet Brazil. QuinStreet currently serves the largest companies in Higher Education in Brazil.
"Brazil is a big and important market, and we are excited about the exponential growth we are already seeing in Education," remarked Doug Valenti, QuinStreet CEO. "The Vemm platform and team are excellent additions to our portfolio there, and they will allow us to provide the same excellence of service in personal finance markets," said Pedro Yue.
Simon Birrell, founder and CEO of Vemm, commented that "QuinStreet has great properties, experience and technology in an area that is complementary to us. The sale of Vemm allows us to contribute our own websites, proprietary platforms and machine learning technology to what will now be a Brazilian lead generation powerhouse," he said. "QuinStreet's interest in Vemm is a vindication of our hard work in developing the Brazilian lead market," added Eli Zelkha, Vemm co-founder.
About QuinStreet
QuinStreet, Inc. (Nasdaq:QNST) is one of the largest Internet marketing and media companies in the world. QuinStreet is committed to providing consumers and businesses with the information they need to research, find and select the products, services and brands that meet their needs. QuinStreet is a leader in visitor-friendly marketing practices. For more information, please visit QuinStreet.com.
Legal Notice Regarding Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that involve risks and uncertainties. Words such as "estimate", "will", "believe", "intend", "potential", and similar expressions are intended to identify forward-looking statements. These forward-looking statements include the statements in quotations in this press release, as well as any statements regarding QuinStreet's anticipated growth and strategic and operational plans. QuinStreet's actual results may differ materially from those anticipated in these forward-looking statements. Factors that may contribute to such differences include, but are not limited to: QuinStreet's ability to integrate the Vemm acquisition and manage its operations; the impact of changes in industry standards and government regulation; QuinStreet's ability to maintain and increase the number of visitors to its websites and to convert those visitors and those to its third-party publishers' websites into client prospects in a cost-effective manner; the impact of the current economic climate on QuinStreet's business; QuinStreet's ability to access and monetize Internet users on mobile devices; QuinStreet's ability to attract and retain qualified executives and employees; QuinStreet's ability to compete effectively against others in the online marketing and media industry both for client budget and access to third-party media; and the impact and costs of any alleged failure by QuinStreet to comply with government regulations and industry standards. More information about potential factors that could affect QuinStreet's business and financial results is contained in QuinStreet's annual reports on Form 10-K and quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission. QuinStreet does not intend and undertakes no duty to release publicly any updates or revisions to any forward-looking statements contained herein.
CONTACT: Media Contact
Daniel Possa
Telephone: +55 11 3060-6451
E-mail: daniel@vemm.com.br
