Engage Announces Relationship with Avesair as Part of Strategy to Accelerate Growth of Interactive Marketing Solutions Into New Markets
New company develops system based on Engage technology to enable wireless carriers to expand the breadth of services offered to consumers
Andover, MA, December 19, 2000 - Engage, Inc. (Nasdaq: ENGA), a leading enterprise marketing software and interactive media company, today announced its strategic role in the formation of Avesair, Inc., a company launched today to provide advanced carrier class technology that will enable telecommunications carriers to deliver advertising and marketing messages to wireless devices. Engage is licensing technology to the company, holds a minority equity position in Avesair and will receive an ongoing revenue stream from the deal.
Avesair was formed as a strategic initiative with Engage. Its highly scalable technology and infrastructure, built on Engage’s proven software technology, is designed to allow global carriers to increase revenues in wireless and mobile environments through advertising, marketing, content and commerce services.
Engage’s enterprise marketing software technology includes a powerful ad management solution that manages all of a Web site’s advertising initiatives, including targeting, measurement, inventory, and reporting. Engage’s software portfolio, which is designed to allow marketers to build loyal customers across all channels, also includes products to manage content and customer data.
Avesair has received an initial round of $16 million in funding from lead investor Nokia Venture Partners and New Things. The company is led by President Kimo Kong who was a general manager in Engage’s Software division. Its other founders were key players at Engage.
“Our role in Avesair and our joining with Nokia Venture Partners represents a key strategy for Engage going forward,” said Tony Nuzzo, president and CEO of Engage. “We will continue to look for relationships with major companies, and exciting new companies, that will enable us to accelerate our proven marketing solutions into new markets such as wireless.”
Editor’s Note:
For more information on the $500 Million fund led by Nokia Venture Partners, please visit www.nokiaventurepartners.com/release120400.html. For more information on New Things’ venture fund, please visit www.newthingsvc.com. For more information on the joint initiative with Avesair, please visit www.avesair.com.
About Avesair:
Avesair, Inc., is a privately held company focused on developing technology and infrastructure that will allow global telecommunication carriers to increase revenues in wireless and mobile environments. These services range from advertising and marketing messages to targeted commerce and promotions to personalized content. Funded by Nokia Venture Partners, and New Things, Avesair was formed as a strategic initiative with Engage, Inc. For more information on Avesair, please visit www.avesair.com or email info
About Engage®:
Engage, Inc. (Nasdaq: ENGA) is a leading enterprise marketing software and interactive media company. A majority-owned operating company of CMGI, Engage enables companies to harness the power of interactive marketing to create more loyal customers, maximize revenue, and increase their brand’s visibility and recognition. Based in Andover, Massachusetts, Engage has European headquarters in London and offices worldwide. For more information on Engage, please call 877-U-ENGAGE or visit www.engage.com.
Engage is a registered trademark of Engage, Inc. All other products and services mentioned may be trademarks or service marks of their respective owners.
Statement Under the Private Securities Litigation Reform Act
This press release includes forward-looking information. All statements other than statements of historical fact, including without limitation, those with respect to the Company's objectives, plans and strategies set forth herein are forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties which could cause the Company's future results of operations to differ materially from those anticipated, including the risks detailed in the Engage's 2000 Annual Report on Form 10-K and from time to time in Engage's other reports filed with the SEC.
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