Netcentives Inc., San Francisco, has sold its 49% stake in Golden Retriever Systems LLC to Vital Processing Services. Terms of the transaction were not disclosed. Netcentives will use the proceeds of the sale to fund its operations. On Aug. 6, Netcentives announced that it was restructuring to focus on its loyalty business. As part of the restructuring process, the company reduced its workforce from
Advertisement
Netcentives Inc., San Francisco, has sold its 49% stake in Golden Retriever Systems LLC to Vital Processing Services. Terms of the transaction were not disclosed. Netcentives will use the proceeds of the sale to fund its operations.
On Aug. 6, Netcentives announced that it was restructuring to focus on its loyalty business. As part of the restructuring process, the company reduced its workforce from 345 to 180 employees, closed its Dallas, Florida, Phoenix and New York offices, consolidated its office space in San Francisco, limited its research and development activities, and put its email business up for sale.
