Prime Companies to Acquire Pixel Factory
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Prime Companies Inc. in San Francisco signed a letter of intent to acquire The Pixel Factory Inc. in a transaction valued in excess of $1 million.
Prime Companies said it believes the Internet and direct marketing industries are in a state of convergence and is seeking to develop a global direct marketing information network.
The Pixel Factory is produces high-end, high-concept digital content for film, video, CD-ROM and the Internet. Since 1993, clients have included AT&T, Disney, General Electric, Universal Studios, the Orlando Magic, Dentsu of Japan and TOEI Movie Studios. Pixel recently negotiated multi-million dollar agreements for 1999 with a major toy manufacturer for its international animated shows and with Harcourt Brace for its "Edutainment" CD-ROMs for use in school programs.
"The acquisition of The Pixel Factory will keep Prime and its planned worldwide Internet-based subsidiary network at the forefront of technology," said David Lefkowitz, president of Prime Companies. "Through the acquisition of Pixel, Prime will have, under one roof, the expertise and proven ability to manage complex Internet projects through all phases from concept to finished product."
Prime Companies is building a business-to-business direct marketing database network through joint ventures with Internet firms and telecommunications companies in the U.S. and foreign markets. The company is focused on opening formerly closed telecommunications markets with emerging economies to develop a worldwide direct marketing network.