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Technology News Are Hot News
2001-08-05 admin
Newsfactor acquires Techextreme, 6 August 2001, 11 am GMT
NewsFactor Network, an e-business and technology news agency and publisher, is acquiring a majority stake of sixty-six percent of TechExtreme.com, an Internet media site that publishes hardware and software reviews for tech-savvy consumers.
NewsFactor will supply strategic direction, as well as content, marketing, sales and technical management for TechExtreme.com.
The acquisition will extend NewsFactor's highly targeted audience with the addition of TechExtreme's user base, thereby boosting NewsFactor's leadership in the Internet high-tech media sector, and expanding revenue opportunities.
The addition of TechExtreme to the network and the resulting cross-traffic is expected to yield an additional 200,000 highly targeted visitors per month to NewsFactor's existing audience by Q4 2001.
"This is NewsFactor's third acquisition, in addition to launching six internally developed properties" explains David Geller, co-founder of NewsFactor Network. "While our competitors like Cnet (Nasdaq: CNET) and ZDnet continue to announce losses and layoffs, NewsFactor continues to outperform industry norms through careful and productive expansion. This acquisition represents another milestone in NewsFactor's rise to the top of the high-tech media sector."
www.NewsFactor.com.
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