Released on: 6, June 2007
, Author: Craig Anderson / Redwebsolutions
, Audience: Computers related
The news comes only weeks after Red Media publicly declared aninterest in obtaining A+Online in an asset-buyout. After much negotiation,A+Online was bought in its entirety from its private owners, and subsumed within theRed Media corporate structure.A+Online, the company behind www.convertiblehire.com were estimated to hold assetsworth in excess of $12 million, making them significantly smaller than their parentcompany. Despite this, Red Media maintain the quality of the assets, coupled withA+Online's powerful media branding made them an attractive choice.
Red Media Corporate Strategy director Jennifer Douglas-Cave has heralded thepurchase as a step towards achieving the company's overarching aims: "We aredelighted with the acquisition of A+Online. We agreed on terms that we felt werevery beneficial for the long-term growth of Red Media, and I only hope we cancontinue to build on A+Online's efforts in the coming years".
The move will expand the reach of Red Media, allowing them to provide a more diverseadvertising portfolio for large-scale clients.A+Online projects like www.convertiblehire.com will be left to run their naturalcourse without significant intervention, in an attempt to gauge the naturallifecycle of Red Media's newly acquired assets, as part of a longer-term strategyfor asset development.With the increase in portfolio, it is estimated that Red Media will see a 3% growthin ad impressions over the coming year.
About Red Media:
Red Media are a holding company, focusing primarily on developing and maintainingmedia assets. Based in the UK, Red Media have holdings in a diverse portfolio ofonline and traditional media channels, including www.convertiblehire.com in theonline arena.
Source: Express-Press-Release.com
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