Vertrue Incorporated is a premier internet direct marketing services company. Vertrue operates a diverse group of marketing businesses that share a unified mission: to provide every consumer with access to savings and services that improve their daily lives. Vertrue's members and customers have access to direct-to-consumer savings across its five vertical markets of healthcare, personal property, security/insurance, discounts, and personals, which are all offered online through a set of diverse internet marketing channels. Vertrue is headquartered in Norwalk, Conn.
The company was founded in 1989 and became a publicly traded corporation in 1997, when revenues reached the $1 million mark. Its shares were listed on NASDAQ under the ticker symbol MBRS, which was then changed to VTRU when the company changed its name in October 2004. In fiscal year 2007, revenues reached approximately $800 million.
As announced on March 22, 2007, Vertrue entered into a merger agreement with Velo Holdings Inc. and Velo Acquisition Inc. Under the terms of the agreement, Vertrue's stockholders received $50.00 in cash for each share of Vertrue common stock, subject to closing of the transaction. A special committee of independent directors and the full board of directors of Vertrue approved the merger agreement and recommended to Vertrue's stockholders that they adopt the agreement.
The transaction was completed on August 16, 2007. Vertrue's new ownership team includes Velo Holdings, a private investor group consisting of One Equity Partners, Rho Ventures and Brencourt Advisors, together with certain members of Vertrue's management.
For information about Vertrue's 2007 financial statements and filings, please visit SEC filings.