NetZero Acquires AimTV
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NetZero will acquire AimTV for approximately 1 million shares of NetZero stock. The acquisition is scheduled to close by the end of the year.
AimTV developed a technology designed to let advertisers run broadcast-quality television commercials over narrowband Internet connections.
"The unique capabilities of AimTV technology will give NetZero the opportunity to combine the powerful one-to-one marketing capability provided by our zCast targeting technology with the visual impact of television-quality commercials." Goldston said. "NetZero will take what essentially has been dead space on the user's screen during a typical Internet dial-up process and will turn it into a dynamic environment."
Brian Woods, AimTV chief executive officer, said the Internet broadcasting company fulfilled their goal to deliver enrich broadcast quality ads over traditional Internet connections and that executives are extremely excited about working with NetZero.
"AimTV was formed with the goal of providing advertisers with the benefits of delivering broadcast quality television commercials over the Internet," Woods said. "NetZero has the infrastructure and user base to leverage our technology and help us to achieve that goal."
Goldston said the free ISP was anxious to put the broadcast quality video streaming to work at Net Zero.
"We anticipate that the first application of the AimTV technology will be television-quality commercials displayed during the log-on process," Goldston said. "NetZero will be offering this exciting new technology to advertisers under the name, GroundZero."
Goldston added NetZero's GroundZero programming delivers ads to subscribers during the idle time it takes for modems to dial in and establish an Internet connection. NetZero plans to provide advertisers with the service in the first half of next year.
AimTV is a privately-held company that has been funded to date by prominent investors from the entertainment, advertising and consumer products industries. AimTV's chairman and chief executive officer Brian Woods is the former executive vice president and chief marketing officer of Blockbuster Entertainment Worldwide (BBI).
NetZero is an advertising revenue-based Internet access providers that offers free dial-up service nationwide. Since the ISP's debut in October 1998, the ISP currently serves more than 2 million subscribers its free Internet access service in 1,600 U.S. cities.