24/7 Media Sells Another Asset
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.