Interactive marketing firm Think Partnership will expand its search business in Europe and into Asia with the acquisition of Web Diversity, London, reports DM News. Think also announced today that it has entered into an agreement to acquire online sales lead-generation firm iLead Media, which will become a wholly owned subsidiary of Think following the closing of the merger.

Think will be expanding into Asia for the first time, funding Web Diversity with $500,000 to open an office in Hong Kong in June.

"Asia is rapidly expanding…. It presents a tremendous opportunity," said Xavier Hermosillo, SVP of corporate communications and investor relations for Think Partnership, which may expand further in the U.S. and abroad with acquisitions this year, Hermosillo said.

Think purchased all of Web Diversity's outstanding capital stock from CEO Jim Banks for $1 million in cash plus 500,000 unregistered shares of the company's common stock.

At the closing of the iLead acquisition, Think will pay to the shareholders of iLead $9.2 million in cash and issue to them nearly 4.65 million shares of Think common stock, with additional earnout payments of up to $18 million based on the aggregate pre-tax earnings of iLead for the first 12 calendar quarters following the closing.