RealTime IT News

Worldata Buys Back Half of WebConnect

Worldata has repurchased CMP Media's 50% share in WebConnect, a media placement service started by Worldata in 1995, according to Simba Information Inc.'s Direct Newsline.

The two firms have been joint venture partners since 1996, when CMP acquired a half interest in WebConnect. Worldata is a Boca-Raton-based list management-brokerage firm.

"By reuniting WebConnect with Worldata, we've reaffirmed our commitment to the new and expanding role that the World Wide Web is playing in the direct marketing sector," Worldata CEO Roy Schwedelson was quoted as saying.

WebConnect places advertising banners and links on Web sites. Originally, it represented over 1,000 sites, then shifted its focus toward serving the advertisers. Offered as part of the service are packages in which advertisers can select groups of sites using demographic and lifestyle criteria.

Financial details of the buyback were not disclosed.