RealTime IT News

Icon Medialab, LetsBuyIt.com Renew Agreement

href="http://www.iconmedialab.de/home">Icon Medialab and the special feature shopping site LetsBuyIt.com have renewed and extended the two company's existing general agreement.

The volume of revenue to come from this contract should amount to between DEM 16 and 18 million ($8.2 to $9.2 million).

Icon Medialab is responsible for the entirety of LetsBuyIt.com's digital communication. The company has successfully created the Web staging of the site, including the process of making its local services available in 14 countries. The agency is working on a mobile e-commerce solution via Wireless Application Protocol (WAP).

LetsBuyIt.com operates a so-called "power shopping" service, in which users can club together in order to buy a specific consumer product, which is proportionally reduced in price, according to how many buyers note interest.

Icon Medialab continued along the acquisition trail this week with the purchase of Circle Innovation in Norway and MetaDesign London in England.