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Print Edition StoriesAfter taking a year off, Woburn content management company Bridgeline Digital Inc. is back to buying companies, this time paying $1.03 million for Florida company Magnetic Corp.
According to a release from Bridgeline (Nasdaq: BLIN), Magnetic is a web development firm that “provides web application development, web design, mobile application development, usability, web content management system implementations, and eCommerce implementations.”
In 2010, Magnetic brought in sales of more than $2 million and was profitable, Bridgeline noted in the release. Magnetic’s CEO Jennifer Bakunas has joined Bridgeline as senior vice president and general manager for the Florida region. Magnetic was founded in 1997.
In July 2010, Bridgeline paid approximately $4.3 million for certain assets of eMagination Network LLC and eMagination Intelligence Group (IG), based in the Baltimore and Washington, D.C. markets.
That followed the purchase in May of some of the assets of TMX Interactive Inc. for $1.7 million in cash, debt, earn-out and deferred revenue, in a bid to expand Bridgeline’s business into the Philadelphia region.
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