Beyond Commerce Inc., a media and e-commerce solution for high traffic Web sites, has signed an agreement to acquire online advertising network AdJuice Inc. (www.adjuice.com).
AdJuice is backed by more than $7 million invested in developing its proprietary technology, and the company has secured more than 22 million registered users, 700 affiliates and 350 retail clients spanning six major industries.
Utilizing AdJuice’s network, Beyond Commerce CEO Robert McNulty said the company is taking advantage of the chance to restructure and venture into other markets.
“To capitalize on this vast opportunity, Beyond Commerce has repositioned itself into a media company and a technology e-commerce platform provider,” McNulty stated in the press release. “We are currently in discussions with other media companies as well … in the ad networking, online advertising and local advertising space industries … which are also viewed as potential acquisitions.”
Today’s announced acquisition is expected to be the first of many; AdJuice and Beyond Commerce said they plan on seeking additional acquisitions to secure a unique position in the marketplace.
“We look forward to joining Beyond Commerce,” states Matt Hill, CEO and Founder of AdJuice. “Our company will act as a hub for future acquisitions and we feel this is the right time in the market for great companies and smart people to join forces under one roof to produce unmatched consumer products, programs and services.”
The companies noted the growth and “tremendous” potential for online advertising. According to the press release, by 2011, nearly 25 percent of all media consumption will be online, with the online advertising market expected to reach $50.3 billion in revenue by 2011 in the U.S. alone.
“We believe these market segments, individually and collectively, are extremely fragmented, and they offer tremendous unlimited growth opportunity for a roll-up strategy,” McNulty stated.
The board of directors of both companies approve of the deal, which is expected to close within the next 10 business days.