(Direct Newsline) List firm Direct Media has signed a deal to sell the assets of its Catalog Link product to Altura International in Monteray, CA. Catalog Link offers access to information on hundreds of catalogs at the site.The deal takes effect Sept. 30.
The terms of the agreement include a one-year revenue-sharing arrangement and the option for Greenwich, CT-based Direct Media to purchase stock warrants in Altura International going forward. James Ferrier, who oversaw the operation of the site for Direct Media, has been hired by Altura International to continue in that role.
“Catalog Link was not a part of our core business,” says Direct Media chief financial officer Rick Sarli, “so we felt we would be better served to sell it to a company that more closely matches its core services and could provide more attention to the ongoing business.”
Altura International, the parent company of online mall CatalogCity, builds and manages custom online shopping malls and stores for merchants in the mail order and online catalog businesses.