RealTime IT News

Cybergold Acquires SmartFrog.com

Wasting no time in snatching up a company, Cybergold Inc. acquired SmartFrog.com Inc., a privately-held Net company specializing in cash-back rewards for frequent-buyers.

SmartFrog.com is Cybergold's first business acquisition, following less than two months after Cybergold's (CGLD) initial public offering.

SmartFrog.com brings Cybergold the technology and expertise behind its innovative cash back program at more than 100 online shopping sites including jcrew.com, CDNOW, and borders.com.

SmartFrog.com co-founders Peter Bauert and Scott Lenet will both join Cybergold's executive team.

"This acquisition reinforces our commitment to help advertisers offer the best deals to consumers," said Nat Goldhaber, president and CEO of Cybergold Inc.

"Cybergold's cash incentives are proven and cost-effective for drawing new customers to products and Web sites. SmartFrog extends our cash-reward model to include cash rebates for purchases made from more than a hundred retailers. We respect the innovative work done by SmartFrog and decided to make them a part of the family."

Cybergold is a leading provider of Net-based direct marketing and advertising solutions, including incentive programs which reward consumers with cash for responding to ads and programs.