24/7 Media Sells AwardTrack Unit to Pass Privilege

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24/7 Media Inc., continuing to sell off non-core assets in an effort to achieve profitability, said it will sell its AwardTrack loyalty software division to Pass Privilege Inc.

24/7 Media acquired AwardTrack in February for about $75 million in stock.

Financial terms of the latest deal were not disclosed.

AwardTrack is a technology platform that lets marketers offer private-label loyalty programs. It lets clients issue and track points and build brand equity, and it provides a redemption catalog with fulfillment that can include merchandise. The technology also lets clients track customer behavior and can be used for customer segmentation and one-to-one marketing, 24/7 Media said.

Pass Privilege, which provides consulting services and specializes in promotions, loyalty programs and relationship marketing, is based in Charlotte, NC. It signed on as an AwardTrack reseller in November.

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