These are links and articles that have some relation to Tim Stay

Thursday, September 29, 2005

Marketing Ally acquired by IDT

This appeared in a Deseret News article by David Politis on September 22, 2003/

Marketing Ally acquired by IDT

By David L. Politis

On a totally unrelated note, Provo-based Marketing Ally was acquired last week by Newark, N.J.-based IDT Corp. (NYSE: IDT).
Formed in 1992, Marketing Ally was, at its height, one of the leading inbound/outbound call centers in the United States with three locations in Utah and a fourth in Brazil, the former LDS mission field of the company's founder, Tim Stay.
During the DotCom boom, companies like Marketing Ally boomed right along with the Internet companies, providing them with inbound/outbound telemarketing services, as well as outsourced Web-based support functions.
The company was frequently recognized by industry trade publications as one of the leading companies in its field, and it also landed on the Utah100, the MountainWest Venture Group's annual ranking of the 100 fastest growing companies in Utah.
Stay eventually turned day-to-day management functions over to others so he could pursue additional interests, including the formation of a non-profit and creation of an investment incubator in Orem known as BizCradle.
Unfortunately, the longest economic recession in the past 40 years was on the horizon, something few people foresaw, including Stay.
"As the market downturn and the industry specific downturn continued, and competition from India grew, we had to consolidate and lower our overhead," Stay said.
Where Marketing Ally revenues at their peak had reached nearly $16 million, 2002 revenues were at $4.5 million.
"It became clear to me that Marketing Ally had to be part of a larger firm, and IDT has been really good to work with," Stay said.
Stay stepped back into Marketing Ally as its president in the beginning of 2003.
Just prior to last week's announcement, Marketing Ally was down to 350 employees centered in one location — the company headquarters at the former dance hall in Provo known in the late 1970s and early 1980s as the Star Palace.
Stay and his 350 co-workers are now employees of IDT, a $1.8 billion telecommunications and technology company, and more specifically, part of a newly formed call center business unit called IDT Contact Services.
Although terms of the transaction were not disclosed by either party, Stay can apparently receive an earn-out over a three-year period based upon the success of the new IDT Marketing Ally business unit.


Post a Comment

<< Home