• by David Kaplan , March 17, 2005

Hoping to focus more on its main business of operating and selling advertising on its "digital display terminals" that are placed in shopping malls and theaters across the country, AdSpace Media Network is selling its CoolSign software to Clarity Visual Systems, which also runs advertising displays nationwide. The amount of the sale was undisclosed.

AdSpace plans to put the proceeds from the sale of its software to Portland, Oregon-based Clarity to use immediately. For one thing, AdSpace will be moving its headquarters from Burlingame, CA to New York City, although it will continue to operate sales and support offices in Los Angeles and San Francisco, a spokeswoman said.

As part of the sale, Clarity will be an exclusive supplier to AdSpace in terms of its software needs as it sets out to expand its mall and theater network using the CoolSign technology with its existing partners--including theater-owners Westfield America, Inc. and Loews--as well as new ones, an AdSpace spokeswoman said.