Logix Microsystems acquires CarSite from PowerOne Media

Logix Microsystems Ltd has announced that the Company and PowerOne Media jointly announced that the Company has purchased CarSite, the automotive portal business of PowerOne Media.

The Company also announced a new Company called izmomedia to focus on the fast growing portal market.

The acquisition was an all cash deal for the assets of the automotive portal business of PowerOne Media, Carsite.com. The amount was not disclosed.

Prior to the acquisition, PowerOne Media was a leading provider of online portals to media partners. The Company had recently upgraded their CarSite Platform to make it more user-friendly and to meet the technology needs of their media partners.

All the Company's products are marketed in the U.S. by izmocars, its 100% subsidiary Company in the U.S.

The CarSite acquisition is a strategic investment for the Company. It adds an experienced team, customer base of more than 50 clients located all over the United States and a technology platform on which to build their media business. The market size for the online portal business in the United States is estimated at approximately USD 55 million.

izmomedia, the new wholly owned subsidiary formed by the Company, will provide smart portal solutions for a wide array of media partners, including newspapers, television, cable, and radio.

izmomedia will offer custom designed portals along with "out of the box" functionality. The Company will help its media partners bridge the digital divide by combining traditional media offerings with the flexibility and interactivity of New Media. With minimal costs, media partners can now increase revenues and growth while building brand identity.

By leveraging the izmocars product suite and its relationships with auto dealers, izmomedia will enable its media partners to be successful in generating revenue and increasing profitability. izmomedia will utilize the izmoRainmaker Online Marketing program to increase website traffic and conversion for its media partners.

izmocars is a San Francisco based Industry Leader owned by the Company, providing Interactive Media Solutions, eCommerce Websites, Dealer Sales Training and Online Marketing to the automotive industry. The Company owns the world's largest and most compelling collection of automotive animations, and is the Global Market Leader in this segment.

izmocars and izmomedia now became the perfect opportunity as auto dealers and media Companies enter a new platform of technology.

Source : Equity Bulls

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