The board of directors of Commerce Planet Inc., an online marketing services firm, has authorized management to pursue a plan to spin off Iventa, its e-commerce business into an independent publicly-traded company.
This transaction will be accomplished through a one-time share distribution to Commerce Planet shareholders next spring.
According to Commerce Planet, this new independent company, to be formally named at a later date, will provide online marketing systems catering to the entertainment, community networking and small business markets.
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