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BIA Financial Network (BIAfn) purchased The Kelsey Group, a Princeton-based research and analysis provider that focuses on Yellow Pages, local search, small business marketing and local media.

In tandem, the companies plan to offer local analysis for firms making the transition from traditional advertising to new media platforms.

The Kelsey Group shall operate under BIA Advisory Services, LLC, a newly-formed subsidiary that includes BIA Consulting and BIA Research. Founder John Kelsey will oversee conference planning and execution, and The Kelsey Group's offices and personnel will be retained.

Recent studies released by The Kelsey Group include one that found most small and mid-sized businesses will maintain or increase ad spend in 12 months, despite a glum economy. An older study forecast expenditure on online video advertising would hit $1.5 billion in 2012.