OpenGate Puts Up $22.5M For PennySaver Mailing Biz

Law360, New York (September 19, 2013, 5:19 PM ET) -- Los Angeles private equity firm OpenGate Capital LLC will put up $22.5 million for the PennySaver direct-marketing business held by Harte-Hanks Inc., the company said Thursday, adding a well-known name to its arsenal as it dips into the print- and digital-advertising markets.

The assets trading hands in the deal include Hare-Hanks' Shoppers and PennySaver mailing units, in addition to a website that also operates under the PennySaver banner. The business — the nation's No. 1 Hispanic marketing publication — provides hyper-local marketing and advertising services to...
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