TargitMail Sold to Online Food Retailer-Turned-Interactive Marketer
Gourmet Productions Inc., based in Boca Raton, FL, which operated a Web site specializing in selling gourmet foods, said it has completed its acquisition of TargitMail.
Financial terms of the deal were not disclosed.
Gourmet Productions said its acquisition of TargitMail is the first move in its reorganization as an interactive marketer.
Under a transfer agreement with a creditor, Gourmet Productions is now doing business as VirtualGourmet.com. It transferred its domain name, brand name and all technology used in the operation of the GourmetMarket.com Web site, in exchange for cancellation of $100,000 in notes, 20 percent of Gourmet Productions' outstanding stock, and a percentage of VirtualGourmet.com's gross retail sales up to $125,000 in royalties.
In December, iiGroup Inc., Boca Raton, FL, bought TargitMail, which is incorporated as Global Technology Marketing International Inc., for an undisclosed amount. IiGroup integrates "new economy business concepts with traditional business practices" and owns Travlang.com, a foreign-language and travel Web site, among other properties. IiGroup has since changed its name to Travlang.
TargitMail said it has 27 million opt-in e-mail names in its database.
Last year TargitMail was accused of being a spammer because of an e-mail it sent in early December advertising the JobsOnline service. The message went to 300,000 people. The company said the e-mail was sent by mistake, and it denies being a spammer.