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EXHIBIT 99.1
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Mitchell Simmons Corey Olfert
24/7 Media Fleishman-Hillard
212-231-7916 213-489-8253
[email protected] [email protected]
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FOR IMMEDIATE RELEASE:
24/7 MEDIA ACQUIRES WEBSITE RESULTS
ACQUISITION PROVIDES CLIENTS WITH COMPLEMENTARY ADVERTISING CHANNEL AND
INCREASED ONLINE TRAFFIC
INTERNET MARKETING TECHNOLOGIES FIRM IS EXPECTED TO ACCELERATE 24/7 MEDIA'S
PROFITABILITY TO Q4 2001
NEW YORK - August 24, 2000 - 24/7 Media (Nasdaq: TFSM), one of the largest
global interactive media and technology solutions companies, announced today the
purchase of Website Results, an Internet marketing technologies company that
delivers high volumes of targeted, cost-effective consumer and business traffic,
through an all stock transaction valued at $95 million.
As a business-to-business marketing solution, Website Results broadens
24/7 Media's suite of technology based interactive marketing solutions. This
service targets Web sites and direct marketers that wish to drive incremental
traffic with demonstrated high conversion rates, and offers clients effective
and measurable results through its suite of proprietary applications.
Website Results is the leading Internet marketing infrastructure company
in delivering high volumes of targeted, cost-effective consumer and business
traffic to client websites from queries performed on the major Internet search
engines. The company's proprietary and highly scalable applications, delivered
through an application service provider (ASP) platform, serve over 200 clients
including some of the largest, most recognizable companies on the Internet,
including eBay, E*TRADE and fogdog.com.
"Website Results brings another dynamic Internet marketing solution to our
advertisers and our network of Web sites," said David J. Moore, 24/7 Media's
CEO. "This addition to 24/7 Media's already comprehensive suite of marketing and
technology solutions will help our advertisers and our network of Web sites
generate incremental, highly qualified page views. Financially, it adds a high
margin, incremental revenue stream, and, most importantly, the acquisition is
accretive, thereby accelerating our drive to profitability."
Douglas C. Wagner, president of Website Results, said, "We are excited to
become part of the 24/7 Media family. With 24/7 Media's proven leadership in the
interactive marketing and technology industry and its enormous global reach, we
will be able to offer our services to a much broader audience overnight."
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ABOUT 24/7 MEDIA, INC.
24/7 Media Inc. is a leading global provider of end-to-end interactive
technology and marketing solutions and services for Web publishers, online
advertisers, advertising agencies, e-marketers and e-commerce merchants. 24/7
Media provides a comprehensive suite of media and technology products and
services that enable these client groups to attract and retain customers
worldwide, and to reap the benefits of interactive and other electronic media.
Our solutions include advertising and direct marketing sales, ad serving,
promotions, email list management, email list brokerage, email delivery, data
analysis, loyalty marketing and convergence solutions, all delivered from our
industry-leading data and technology platforms. Our 24/7 Connect ad serving
technology solutions are designed specifically for the demands and needs of
advertisers and agencies, Web publishers and e-commerce merchants. Based in New
York, 24/7 Media Inc. has offices in 51 cities in 28 countries. For more
information, please visit www.247media.com.
SAFE HARBOR STATEMENT
Caution concerning forward-looking statements: This news release includes
certain "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are based on
management's current expectations and are naturally subject to uncertainty and
changes in circumstances. Actual results may vary materially from the
expectations contained herein due to changes in economic, business, competitive
and/or regulatory factors. More detailed information about those factors is set
forth in the most recent quarterly report and other filings with the Securities
and Exchange Commission made by the companies named herein. In addition, the
following factors, among others, could cause actual results to differ materially
from those described herein: the risk that the 24/7 Media and Website Results
businesses will not be integrated successfully, the potential for impairment of
relationships with employees or customers or others in the Internet industry,
the costs related to the merger, the inability of the companies to realize
synergies or other anticipated benefits of the merger, and other economic,
business, competitive and/or regulatory factors affecting the businesses of 24/7
Media and Website Results. None of the companies named herein are under any
obligation to (and expressly disclaim any such obligation to) update or alter
their forward-looking statements whether as a result of new information, future
events or otherwise.
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