As Groupon plans IPO, Toronto group-buying site gets acquired for $700K

Posted by Rob Lewis

Toronto's Intertainment Media announced yesterday that it has signed an agreement to purchase Toronto's DealFrenzy.com

Intertainment will acquire all the turn-key assets of DealFrenzy.com including the backbone technology, deal pipeline, including preferred deals with major brands and an experienced sales and support team.  The acquisition combines cash and Intertainment Media common stock with $500,000 in cash and $200,000 in Intertainment common stock. The acquisition is expected to close by late June 2011.

DealFrenzy.com is scheduled to go live in early July 2011 and has partnerships with strategic national and multi-national brands including Yogen Fruz, Things Engraved, and Jamba Juice Canada.

DealFrenzy.com will launch in select cities in 2011 and plans international, multi-language expansion based on Intertainment’s Ortsbo experiential language platform. 

Company:
Intertainment Media
Website:
http://www.intertainmentmedia.com
Location:
Richmond Hill, Ontario, Canada

Intertainment Media is focused on delivering leading edge technology and marketing solutions that enable our clients to power their branding, loyalty and consumer engagement initiatives. We provide business programs, technologies, and lifestyle applications that create revenue driven, socially engaging platforms. Intertainment and our multiple divisions – itiBiti Systems, Ad Taffy, Ortsbo, and Magnum Fine... more

Company:
DealFrenzy.com
Website:
http://www.dealfrenzy.com
Location:
Markham, Ontario, Canada

Coming soon... more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media Inc. and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can... more



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