Webfirm sells search ad system for $1.1m

Webfirm sells search ad system for $1.1m

Internet technology and marketing company Webfirm Group (ASX:WFM) has sold subsidiary Searchworld's AdFeedEngine for US$1 million ($1.1 million).

The company has sold the search advertising and syndication system to AdOn Network, a subsidiary of the Arizona-based PV Media Group.

Under the terms of the deal, AdOn will pay Webfirm an upfront cash payment, as well as earn-out payments over the next two years. The assets will be transferred once the total consideration reaches US$1 million.

The Searchworld brand will now be folded into the Webfirm division, and concentrate on search engine optimisation (SEO), paid search and social marketing.

WFM shares are today trading unchanged at $0.180.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags WebfirmInternet advertisingASX:WFM

Show Comments