Traffix, Inc. has signed an agreement to purchase all of the assets of SendTraffic.com Inc.
Traffix expects to close the transaction around July 1, 2004. Under the terms of the acquisition agreement, Traffix will purchase all of the assets, including net working capital of approximately $500,000, of SendTraffic at the closing for more than $5.4 million — comprised of nearly $1.7 million in Traffix common stock and more than $3.7 million in cash.
Both of the founders of SendTraffic, Greg Byrnes and Craig Handleman, have agreed to enter into five-year employment contracts with Pearl River, NY-based Traffix, a direct marketing company that generates sales and targeted leads for its clients primarily from its online media properties. SendTraffic.com, Lynbrook, NY, is an interactive marketing firm aimed at building online presence, optimizing marketing expenditures and retaining online customers.
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