Direct Media Inc. has signed a deal to sell the assets of its Catalog Link product to Altura International in Monteray, CA. The deal takes effect Sept. 30.
The assets include the Catalog Link Web site address at http://www.cataloglink.com, said Rick Sarli, CFO at Direct Media, Greenwich, CT. Catalog Link offers access to information on hundreds of catalogs at the site.
The terms of the agreement include a one-year revenue sharing arrangement and the option for Direct Media to purchase stock warrants in Altura International going forward.
James Ferrier, who oversaw the operation of the site for Direct Media, has been hired by Altura International to continue in that role.
“Catalog Link was not a part of our core business so we felt we would be better served to sell it to a company that more closely matches its core services and could provide more attention to the ongoing business,” Sarli said.
Altura International builds and manages custom online shopping malls and stores for merchants in the mail order and online catalog businesses.
Network
