ALC Buys MaxDirect
ALC said it plans to retain MaxDirect's sales, marketing and account management staff as well as its offices in Valhalla, NY, and its data processing division in Minneapolis. Further details of the acquisition will be revealed at a news conference this afternoon in New York.
Novus originally was acquired by online marketing and advertising agency L90 Inc. in May 2001 and became L90 Direct. In July 2002, L90 rebranded itself as MaxWorldwide, prompting another name change for the division to MaxDirect.
Both ALC and MaxDirect declined comment pending the news conference.
Meanwhile, it appears that MaxWorldwide is left with its MaxOnline and MaxCreative divisions. MaxWorldwide was delisted from Nasdaq in August after failing to file its quarterly report on time. Its stock was trading at 42 cents yesterday.
After its acquisition of DoubleClick Inc.'s North American media business for $5 million in cash and 4.8 million shares last July, MaxWorldwide president/CEO Mitchell Cannold told DM News that he was negotiating to buy a large list company before summer's end.