RealTime IT News

24/7 Media Acquires iPromotions

Internet advertising firm 24/7 Media Inc. on Tuesday moved to take its promotions services in house, acquiring iPromotions, a firm to which it has outsourced programs for its clients.

Financial terms of the deal weren't disclosed.

The move is the latest by an online advertising firm to acquire in-house promotions capabilities. Last week, DoubleClick Inc. took a majority stake in automated sweepstakes provider Flashbase Inc., and agreed to acquire the rest in mid-June. These acquisitions are part of a trend for online advertising firms to increasingly sell themselves as a one-stop-shop, where clients can get any marketing solution they need.

The iPromotions deal gives 24/7 Media in-house access to online sweepstakes, incentive offers, premiums, contests, and viral marketing programs. In recent months, it has added online loyalty programs to its capabilities with the acquisition of AwardTrack.

"24/7 Media has experienced impressive growth in the promotions segment," said David Moore, president and chief executive officer of 24/7 Media.

"iPromotions' expertise in online incentive marketing further supports 24/7 Media's leadership in providing comprehensive advertising solutions to our customer base."

iPromotions has created promotions for clients such as Intel, Airborne Express, chipshot.com and CVS.com.