Engage Inc. will sell its Internet Profiles Corp. unit to TopicalNet Inc., a Woburn, MA, technology firm, in an effort to restructure its business and attain profitability.
Financial terms of the deal were not disclosed yesterday. It is expected to close in mid-April.
“The sale of I/PRO is another step in Engage's continuing effort to restructure its business by focusing on its strategic products,” said Tony Nuzzo, Engage's president/CEO. “TopicalNet's focus on site classification technologies makes it a clear match for I/PRO's site-specific analytics and auditing.”
Engage, Andover, MA, has been restructuring its businesses in recent months to reduce costs and cut losses. In December, the marketing and technology company said it would lay off half its staff by April. The company also renegotiated contracts with many of its Web publishing clients to reduce the amount of commissions it pays.
TopicalNet said it plans to merge its content-categorization technology with I/PRO's I/AUDIT psychographic and demographic profiling technology and NetLine click stream data, which lets TopicalNet clients automatically deliver interest-targeted content and ads to anonymous users.