Naviant Pays $4 Million for Majority Stake in 24/7 E-mail Unit
Naviant has bought a majority stake in 24/7 Real Media Inc.’s e-mail division. The new entity will be called 24/7 Mail Inc.
The majority stake cost $4, with $1 million paid in cash at closing. Another $1 million is payable in installments over the next nine months, and up to $2 million is payable quarterly over three years, contingent on future gross profit.
Naviant also has an option to acquire 24/7 Real media’s remaining stake in the business.
Boca Raton, FL-based Naviant, which owns eDirect, SweepsClub.com and Data One Marketing, has acquired 41 million e-mail addresses in the deal. Naviant already has about 62 million addresses. Naviant has 38 million postal files.
“Our clients will be able to select their marketing targets from the largest permission-based e-mail database in the industry–a fully branded set of consumers that generate tremendous results,” said Mike Brauser, CEO of Naviant, in a statement.
All employees of 24/7 Mail will remain with the new venture and will market the e-mail lists, along with the properties managed by Naviant and its affiliates, including Naviant’s e-mail append service. They will work with Naviant’s sales force in New York.
Naviant will also become New York-based 24/7 Media’s preferred e-mail marketing partner.
