Aspen Marketing Services has acquired the Townsend Agency, an integrated relationship marketing firm specializing in interactive and database marketing.

The deal allows Chicago-based Aspen to broaden its digital capabilities. Townsend will maintain its offices in Chicago, but change its name to Aspen Marketing Services as of July 10.

Phil Walkenshaw, the chairman and CEO of Townsend, will retire. David Ives the president of Townsend, is joining the Aspen executive team, said Aspen spokesperson Terese Kelly.

No layoffs are expected among the 50 Townsend employees. Aspen employs 700, she said.

Financial terms of the deal were not disclosed.

“Our combined talents will provide unparalleled solutions across multiple on and offline marketing platforms,” Patrick O’Rahilly, chief executive officer of Aspen Marketing, said in a statement.

Townsend, founded in 1979, offers direct and promotional marketing services in addition to digital capabilities for industries from financial services, insurance and consumer packaged goods to real estate, travel and education. Its roster of clients includes Allstate, Capital One, Discover and Rewards Network.

Aspen has made other acquisitions over the past several years. It bought SRI Analytics in 2005 and DVC Worldwide in 2006.

“With digital becoming a core component of integrated campaigns, Aspen will now be uniquely placed to develop and execute digital solutions for our clients and partners,” said Aspen Chief Operating Officer Cathy Lang, in a statement.

Aspen also has offices in Los Angeles; New York; Atlanta; Detroit; Morristown, NJ; Tampa, FL; Dallas and Phoenix. Through the acquisition of the Townsend Agency,

The 21-year-old Aspen ranked No. 27 on the 2007 Promo 100 with revenues of $84.4 million.

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