Emerging Media Holdings, Inc. (EMDH.OB) Announces Acquisition of Genesis International SA
Emerging Media Holdings Inc. announced today that it has acquired a 60% interest in privately-held Genesis International SA, a rapidly growing Eastern European infrastructure company, for $4.8 million in cash. According to the company, Genesis's 2008 unaudited revenue totaled $18.5 million. As of the end of last month, Genesis had a backlog of $29.9 million. "We are excited to acquire Genesis which will allow us to participate in the lucrative infrastructure opportunities expected to support growth in Eastern Europe," commented Iurie Bordian, CEO of Emerging Media Holdings. "Genesis has demonstrated its ability to participate in these projects as reflected by…