24/7 Buys Select Promotions Assets of NowMarketing
The asset purchase brings with it three product lines: VFlash Messenger, a branded online messaging desktop application for company communications with consumers and businesses; NowBox, a customized desktop communication channel for managing real-time content; and interactive CD composition and production.
Companies using these products include Coca-Cola Co., Ford Motor Co., Revlon, McDonald's Corp., DDB Worldwide, Blockbuster, NBC and Clear Channel.
The purchase will complement 24/7's iPromotions model to drive customer acquisition online. The three NowMarketing product lines will also dovetail with 24/7's Open AdStream advertisement serving software.
Terms of the deal were not disclosed by the New York-based 24/7. The acquisition also requires NowMarketing ultimate parent Elron Electronic Industries Ltd., an Israeli holding company, to make a $1.25 million investment in 24/7.