GSI Commerce Inc, an online marketing services company, has ended its merger agreement with Innotrac Corp., a provider of e-commerce fulfillment and customer care services.
Neither firm has any financial obligation to the other as a result of the termination.
Last November, Innotrac reported revenue of $32 million for the third quarter that ended Sept. 30, compared to $29.1 million for the same quarter of 2007, reflecting a 10% increase in revenue (Direct Newsline, Nov 11, 2008.
The company included in its third quarter financial results approximately $292,000 in expenses related to its then-pending merger with GSI and Bulldog Acquisition Corp., a subsidiary of GSI.
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