• May 18, 2001

The ad industry has been leveled by a drought in spending, and 24/7 Media, once ranked the second largest online ad network, has been particularly hard hit as it attempts to take on online giant DoubleClick.

In recent months, the company has had to resort to selling assets and marketable securities in order to access capital. In April, 24/7 Media laid off about 100 employees and closed some offices to cut costs.

Today, the company is selling off yet another asset.

Experian, a leading provider of global information solutions, today has agreed to acquire Exactis from 24/7 Media Inc. for net proceeds of $13.5 million in cash. Exactis, which 24/7 acquired less than a year ago, delivers more than 500 million messages a month to subscribers for more than 100 category leaders in multiple vertical markets. This is the third portion of 24/7 to be sold in recent history. Less than 2 weeks ago, Pass Privilege, Inc. acquired the assets of 24/7 Media Inc.'s AwardTrack Loyalty Software. AwardTrack is a technology platform that enables marketing professionals, as well as CRM professionals, to maximize their customer relationship marketing efforts through private label loyalty programs. And earlier this month, 24/7 sold Sabela Media, which it acquired just last year, to archrival DoubleClick.