New York-based 24/7 Media Inc has acquired email direct marketing company Sift Inc for $22m. Sift provides list management and a service that adds email addresses to existing customer databases. It also maintains and rents an opt-in database containing more than three million addresses, broken down by demographic, lifestyle and interests.
Cisco, Dell, Dun & Bradstreet, Hearst, Intel, Netscape, Oracle and RealNetworks have all used Sift’s services. 24/7 plans to offer the same to its advertising and web publishing clients. The synergies of this deal are multi-faceted, said 24/7 chief executive David Moore. Sift will become a wholly-owned subsidiary of 24/7, will operate independently and will remain in its Sunnyvale, California HQ, but its sales force will be integrated with the 24/7 team.
