RealTime IT News

Penny Lane

Alternate Marketing (ALTM) + AdTrackMedia.com, BAB Holdings (BAGL) + Planet Zanett Corporate Incubator, InfoCast (IFCC) + i360, MemberWorks (MBRS) + Qspace, N.E.T. (NWK) + Convergence Equipment

 MemberWorks (MBRS) acquires Qspace


   *  Amount:         Undisclosed


   *  Terms:            100% stock

   *  Premium:        n/a


   *  Industry:        Content/Communities


   *  Scorecard:      B-


    STAMFORD, May 4--MemberWorks (MBRS) , a provider of consumer and membership services through affinity marketing and on-line channels, announced that its majority-owned venture, iPlace, a personal information content and infomediary on the Internet, has successfully acquired Qspace, a leader in on-line credit and personal finance.

    Under the terms of the agreement, iPlace will acquire Qspace, a privately held company, in an all stock transaction whereby QSpace will receive a minority interest in the newly combined entity. MemberWorks will continue to hold a majority ownership in the combined company. iPlace was recently formed through the merger of ConsumerInfo.com and eNeighborhoods to form the leading personal information content and infomediary site on the Internet.