Naviant Technology Solutions, a Customer
Relationship Management (CRM) consulting and services provider, said that [email protected] and XL Ventures have joined
24/7 Media as strategic investors in its
$46.5 million acquisition of IQ2.net.
XL Ventures is the venture capital subsidiary of Big Flower Holdings Inc.
Specifics of the investment were not disclosed.
In addition to these three strategic investors, six other venture capital
companies have made financial investments in the deal, Naviant said.
Formerly an IntelliQuest company, IQ2.net is a
provider of online registrations and direct marketing lists and services to
Internet, high tech, and other companies wishing to reach Web consumers.
“Since our announcement of the acquisition plans in late July, it has become
even more evident that the e-commerce community is in search of a solution
combining online data with off-line demographics for strategic direct
marketing,” said Charles Stryker, former president of IQ2.net and the new CEO
and president of Naviant.
“The strategic backing of Internet giant,
[email protected]; Internet advertising network company, 24/7 Media; and leading
advertising and marketing expert, Big Flower, solidifies the value that
Naviant will bring to the online advertising community.”
Jim Flynn, former president and CEO of Naviant Technology Solutions, will
become senior vice president of operations.
“Naviant is a strong distribution partner for [email protected], and we expect
significant Excite registrations from this deal because of Naviant’s
leadership in Web-based registration,” said Mark Stevens, executive
vice-president, corporate and business affairs, [email protected]
Naviant offers a suite of services, including marketing and business process
consulting, program management, technology implementation, training, and
support. IQ2.net is also an outsourcing provider of electronic registration