Morgen-Walke finalizing acquisition of Terpin Group's NY office

NEW YORK: After two changes of parentage in the past year, Morgen-Walke is gearing up for an acquisition of its own.

NEW YORK: After two changes of parentage in the past year, Morgen-Walke is gearing up for an acquisition of its own.

NEW YORK: After two changes of parentage in the past year, Morgen-Walke is gearing up for an acquisition of its own.

Founder and managing director David Walke confirmed the company is in the final stages of negotiations to buy the Terpin Group's New York office - which already resides in Morgen-Walke's building on Lexington Ave. Terpin Group's San Francisco and LA offices are not part of the deal.

Michael Terpin, who owns part of the company but no longer has management control, confirmed that the deal is in advanced stages.

The acquisition would give Morgen-Walke a new capability in hi-tech and would see Terpin clients benefiting from access to Morgen-Walke's IR expertise.

Terpin, who founded the 30-strong firm in 1990, quit in January 1999 to spin-off InternetWire, leaving three-year veteran Patrick McKenna to run the firm as president. The New York office is helmed by former Seagram exec Amy Goldberger - a role she shared with Adam Sohn, who has recently quit PR to join a Wall Street firm.

Financial results for the companies are unavailable, but in August Goldberger told PRWeek that recent NY client wins had raised revenues by 80%. They're now estimated at dollars 1.25 million.

Among the new clients that Terpin will bring are Silicon Alley firms such as PageTalk, a service that allows people to listen to audio on the Web and eCall, a voice messaging technology.

Morgen-Walke became part of Lighthouse Global Network earlier this year which, in turn, was snapped up by Cordiant.



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