24/7 Real Media Sells Broadband Subsidiary for $6.5M

Share this article:
24/7 Real Media Inc. has sold its broadband and professional services subsidiary IMAKE Software and Services Inc., to IMAKE's chairman/CEO Mark Schaszberger for $6.5 million in stock and cash, the company said.

Under the terms of the sale, Schaszberger will pay $500,000 in cash and the remaining $6 million in a secured note. Of the $6.5 million total price, $4 million is contingent on future revenue and is payable monthly. 24/7 Real Media will retain a 19.9 percent share in IMAKE.

The sale of IMAKE, according to Mark Naples, 24/7 Real Media's vice president of marketing, is in keeping with the company's goal of concentrating on its profitable businesses.

IMAKE, Bethesda, MD, was founded in 1993 and provides software engineering services, primarily to the telecommunications and interactive television industries. In January 2000, 24/7 Media acquired the company. IMAKE's flagship product, e.merge, provides a suite of applications applicable to interactive television, video on demand, broadband Internet and e-commerce. It also provides targeted advertising services.

Share this article:
You must be a registered member of Direct Marketing News to post a comment.

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in News

B2B Marketers Can Now Self-Serve Ads on Facebook Exchange

B2B Marketers Can Now Self-Serve Ads on Facebook ...

Sitescout's new integration with FBX opens up access to any size marketer, minus campaign spend minimums, according to the RTB company.

Day Two at DMA2014

Day Two at DMA2014

It was awards day in San Diego, with Teradata's Lisa Arthur being named Marketer of the Year, and Google Japan being feted for its direct mail prowess.

Today's Forecast: Chilly With a 10 Percent Lift in Parka Sales

Today's Forecast: Chilly With a 10 Percent Lift ...

The Weather Company launches a website offering marketers free advice on how to take advantage of shifts in the weather.