24/7 Real Media announced on Jan. 31 that it had sold all but a minority interest in iPromotions, Inc. to a group of private investors, including the agency's employees. iPromotions specializes in interactive media for the $2.5 billion travel advertising segment, including airlines, hotels and destination management organizations.
"We decided to divest the operations of our online promotions business," said David J. Moore, chairman/CEO of 24/7 Real Media. He is focusing the company's efforts instead on search optimization and ad serving platforms, as well as its core media business. "We will continue to build upon our reputation for excellence in creating advertising and promotional campaigns that generate proven results," iPromotions CEO Bryan Heathman said in a release.
