A marriage of acronyms. London-based online direct marketing company TMN is to buy web advertising, retail and publishing group Internet Business Group (IBG) for £9.8 million. The companies’ boards recommended a share-for-share acquisition to create a larger group. IBG has an affiliate network, Affiliate Future; a media division with some price comparison, reward points and consumer deal-finding websites; and an e-commerce operation selling sportswear, gadgets and MP3 players.

IBG today reported full-year pre-tax profits of £920,000 on £16.4 million revenue. TMN’s services include email and website marketing (TMN Media), digital advertising (EDR), online fieldwork solutions (iD Factor) and research analysis (ICD Research). Both companies were formed in 1999 though IBG’s strengths are in technology, design and marketing. Release.