Netgateway to Acquire StoresOnline.Com

Netgateway Inc. has
entered into a binding agreement to purchase StoresOnline.com, broadening
Netgateway’s menu of e-commerce solutions and storefront building services.


StoresOnline.com will become a wholly owned Netgateway subsidiary that
includes more than 400 customer accounts, proprietary software systems and
StoreOnline.com’s Web site. Financial terms of the stock deal were not
disclosed.


Netgateway said its strategy is to have thousands of small business e-commerce
accounts activated through its StoresOnline.com subsidiary–in combination
with the Netgateway Internet Commerce Center, which provides back-office
functions needed to organize a company’s online sales and marketing efforts.


“Combining StoresOnline.com’s proprietary store front technology with
Netgateway’s Internet Commerce Center creates a whole new e-commerce
alternative for small business,” said Netgateway’s CEO Keith Freadhoff.


“Small businesses can now rapidly launch their business to the Web with all of the
sophisticated e-commerce features Netgateway has been known for, at a fraction
of the cost. Together with StoresOnline.com, we intend to dominate the low-
cost e-commerce storefront market.”


StoresOnline.com is a division of Spartan Multimedia Inc., which was founded
in September 1997 by David Rosenvall and Jordi MacDonald. The company offers a
variety of e-commerce products including Cart, Point of Sale, Hosting and
Search. Each can be added to an existing site or clients can create a complete
commerce site from scratch.

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