Business Editors
MONTREAL--(BUSINESS WIRE)--March 3, 2004
Mamma.com Inc. (the "Company"), (NASDAQ: MAMA) announces that it has signed a letter of intent to acquire Digital Arrow LLC. Mamma Media Solutions will expand its portfolio of integrated marketing solutions to online advertisers with the addition of this opt-in e-mail and pop-up/pop-under marketing enterprise. Maxim Group LLC, an investment bank headquartered in New York, is acting as M&A advisor to Mamma.com in the potential transaction with Digital Arrow. Digital Arrow is a privately held company in Delray Beach, Florida with approximately $2 million of revenue in 2003. Finalization of the terms of the acquisition which will be a combination of equity and cash is subject to adjustment based on the results of the due diligence which has commenced. While management expects to complete this acquisition during the second quarter of 2004, there can be no assurance that the parties will be able to negotiate a definitive acquisition agreement or that due diligence will satisfy all conditions to which closing is subject under such a definitive agreement. All figures, unless otherwise stated, are in US dollars.
Mamma's President and CEO, Guy Faure stated that: "Completion of this acquisition will add opt-in email marketing to Mamma Media Solutions current product offerings of the Mamma.com metasearch engine and our publisher network. Advertisers and publishers will have one stop shop access to: pay-per-click search listings, graphic ad units, customized search results and, now, targeted email marketing. We will have enhanced our position as one of few players in the market space that offers a truly integrated marketing solution to both advertisers and publishers while maintaining a high quality and popular destination site."
About Mamma.com Inc.:
Mamma Media Solutions is focused on providing first-rate quality information retrieval on the Internet through its metasearch engine and is a leading provider of integrated marketing solutions to online advertisers. The Mamma.com The Mother of All Search Engines(R) search engine is one of most popular metasearch engines on the Internet, as it makes it easier and faster for people to find information by gathering the most relevant results from the best search engines on the Internet. The Company is equally focused on being one of the leading providers of online marketing solutions to advertisers as its integrated offer includes keyword search listings and numerous sizes of graphic ad units. Mamma.com maintains a large publisher network on which it distributes search and graphic ad units for its advertisers. The Company also holds minority interests in analog integrated circuit products, and in the new media and telecommunications sectors.
Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties that can cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filings with the Securities and Exchange Commission.
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