MORRISVILLE,WebSourced has acquired the assets of a Florida-based search engine marketing and development firm in a deal worth as much as $1.4 million in stock — and more stock later.

WebSourced, the subsidiary of CGI Holding Corporation, acquired Engine Studio, Inc. for 40,000 shares of stock. CGI stock (OTCBB: CGIH) closed at $3.70, down 5 cents, on Monday.

Stockholders of Engine Studio could receive an additional 60,000 shares if certain revenue milestones are met over the next two years, WebSourced said in a statement.

Engine Studio, which is based in Merritt Island, FL, operates two web sites: GlobalPromoter.com and TurboPromoter.com. The sites offer search engine marketing, web design and application development.

“The impending initial public offering of Google has generated tremendous media interest in the search engine marketing industry, and potential clients of WebSourced are increasingly showing an awareness of and appreciation for sophisticated search engine marketing expertise,” said Gerard Jacobs, president and CEO of CGI Holdings. “Engine Studio has distinguished itself with a solid track record and outstanding results for its clients.”

WebSourced said it will add search engine knowledge and proprietary tools of Turbo Promoter to its own KeywordRanking services.

The company said that it looked forward to working with “Jason Dowdell (founder and president of Engine Studio) and his team.”

Engine Studio has more than 10,000 active users and customers ranging from small businesses to Fortune 500 firms.

WebSourced: www.keywordranking.com