Diversified Adds Another Strategic Acquisition
Fourth acquisition in the last five months.
Diversified Communications has made its fourth acquisition in the last five months, continuing its growth plans following a corporate restructuring in October.
The company bought The Sleeter Group, a media and events portfolio serving small business financial managers, for an undisclosed amount on Monday.
The deal adds to Diversified’s Institute of Finance & Management (IOFM), which, says RD Whitney, group vice president at the company, has already tripled in size since it was acquired less than two years ago. IOFM also tacked on two related properties, The Accounts Payable Network (TAPN) and The Accounts Receivable Network (TARN), in the interim.
“There is obvious synergy with our IOFM business. In fact, the success we’ve had with IOFM and with the acquisition of TAPN and TARN represent the path we intend to follow with Sleeter,” he says. “There is a common need for information around technology, compliance and services and we will look for one group to help support the other to fill that need faster.”
While Whitney is careful to note that those synergies won’t result in any changes to service or product focus, in part, they’ll help fuel domestic and international expansion plans.
Whitney declined to comment on the size of The Sleeter Group, but its membership community offers an annual conference, networking forums, webinars, books, exams, newsletters, blogs and research services.
Doug Sleeter, founder of The Sleeter Group, will stay involved with the business, according to Whitney, and the company’s staff will be retained.
Update: Diversified has been busy on the M&A front in the wake of an October restructuring. The company has purchased HRM Asia, the Brisbane Health & Fitness Expo and D4 Medical Analytics since then.