Naviant Inc. said yesterday that it would acquire majority interest in the 24/7 Mail e-mail marketing division of 24/7 Real Media Inc., the latest in a string of acquisitions by the Boca Raton, FL, database marketing firm.
The purchase price of the majority stake is up to $4 million, with $1 million paid in cash at closing, $1 million payable in installments over the next nine months, and up to $2 million payable quarterly over three years contingent on future gross profit. Naviant also has an option to acquire 24/7 Real Media's remaining minority stake in the business.
The firms will cross-market their products and services while operating out of their current locations.
On March 18, Naviant said it would acquire Deerfield Beach, FL-based loyalty marketer Sweepsclub.com. It bought Data One Marketing, Boca Raton, a fellow marketing company, on Feb. 20. In November, Naviant merged with opt-in e-mail firm eDirect.com.
Naviant has a database of more than 60 million e-mail names with postal addresses attached. It handles hi-tech product registrations for companies online. Naviant's database includes e-mail addresses and corresponding postal addresses, a combination that lets marketers know better who they are reaching. Clients include AT&T, Microsoft and Oracle.
New York-based 24/7 Media Inc. acquired rival ad network Real Media Inc. in October in a stock deal worth more than $1.9 million.
