Menu
Menu
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!

Error: Please check your email address.

Tags ASX:WFMInternet advertisingWebfirm

Show Comments

Market Place

Computerworld
ARN
Techworld
CMO