Engage Technologies Announces a Multi-Million Dollar Joint Venture with Sumitomo Corporation To Create Engage-Japan
July 30, 1998 9:00 PM EDT
ANDOVER, Mass.--(BUSINESS WIRE)--July 30, 1998--Engage Technologies, the standard in online precision marketing solutions, today announced it has signed a joint venture agreement with Japan's Sumitomo Corporation (NIKKEI:SC) to establish Engage Technologies Japan.
Engage Technologies, a wholly owned subsidiary of CMG Information Services, is the creator of Engage.Knowledge, the world's largest database of anonymous Web visitor profiles for use in real-time marketing and sales applications on the Internet. Sumitomo, one of the largest global corporations to expand into the Internet, is the leading investor in Japan's top Internet Service Provider, Internet Initiative Japan (IIJ), and is a cofounder and part owner of the Asia Internet Holding. Sumitomo made a $10 million dollar investment in CMG Information Services in February, and has a strategic partnership with ad network ADSmart, another CMG subsidiary.
Under the terms of the agreement, the joint venture will host a separate database of Engage.Knowledge profiles built from Web visitors to sites located in Japan, and will have exclusive license to sell database subscriptions in that country. In addition, the venture holds sole distribution rights in Japan for all Engage Technologies' products.
"This venture demonstrates our commitment to the global marketplace, and marks a significant first step in expanding Engage into the Japanese interactive market," said Paul Schaut, CEO, Engage Technologies. "Sumitomo has shown great vision and leadership in the Internet arena, and represents a strong partner in this region."
"Following our successful investment in CMG, Engage was the first company we sought to work with to establish the lead position for Internet profiling in Japan," said Mr. Isao Momota, General Manager, Information & Telecommunications Business Department No. 2, Sumitomo Corporation."
Engage.Knowledge builds anonymous, interest-based profiles based on visitor behavior over multiple Web sites. Leveraging Engage's open architecture, the joint venture includes plans to localize and customize Engage.Knowledge for the Japanese market, adding interest categories for business practices and cultural nuances specific to Japan. Profiles created in the Japan-based offering will also contribute to the Engage.Knowledge database located at Engage Technologies headquarters in Andover, Massachusetts, USA. ADSmart Japan, another CMG subsidiary, will be an initial contributor of Web site profiles to the Japan-based Engage.Knowledge database.
About Sumitomo
Sumitomo Corporation (www.sumitomocorp.co.jp) is one of the world's leading traders and distributors of commodities, industrial goods, and consumer goods. Besides its role as a trader, Sumitomo Corporation is increasingly active as an investor in a diverse range of businesses that mesh with existing operations, or that position the company in markets with long-term potential. Sumitomo Corporation has a staff of 8,804 throughout Japan and in 88 other countries.
About Engage Technologies
Engage Technologies offers high-value Web advertising and marketing solutions that enable customers to profile and reach their online audience. The company's anonymous Web visitor profiling technology helps corporations dramatically increase the relevance of their Web site's advertising, editorial and commercial content for both first-time and repeat visitors. Engage Technologies is also the creator of Engage.Knowledge, the world's largest database of anonymous Web visitor profiles for use in real-time marketing and sales applications on the Internet.
Engage sets the new benchmark for privacy on the Web, balancing the needs of online marketers to deliver the best message to the right audience, while protecting individual identity. Engage is a corporate sponsor of TRUSTe (www.truste.org), an active member of the World Wide Web Consortium (www.W3.com), and the Internet Engineering Task Force (IETF), and has developed and submitted one of the few technical specifications for privacy standards on the Web.
Engage has integrated product offerings with Accipiter, Inc. (www.accipiter.com), developer of the most advanced online advertising management solutions. The integration of these two technologies enables advertisers and Web sites to leverage the next generation of online advertising: profile-enabled ad targeting. Engage and Accipiter are wholly owned subsidiaries of CMG Information Services, Inc. (NASDAQ:CMGI) (www.cmgi.com).
About CMG Information Services
CMG Information Services, Inc. (NASDAQ:CMGI) is an incubator and developer of Internet companies. In addition, CMGI operates direct marketing companies and venture funds focused on the Internet. Microsoft, Intel and Sumitomo hold minority positions in CMG Information Services.
The CMG Internet Group is made up primarily of majority-owned subsidiary companies including Planet Direct, NaviSite, Engage Technologies, Accipiter, ADSmart, InfoMation, The Password and Magnitude Networks.
The company's CMG @Ventures investment affiliate has significant interests in Lycos, Inc. (NASDAQ:LCOS), blaxxun, Vicinity, GeoCities, Parable LLC, Reel.com, Planet All, KOZ, Silknet, Chemdex, Speech Machines, Softway Systems, TicketsLive Corporation, Critical Path, Mother Nature and Visto Corporation. CMG also includes CMG Direct, SalesLink and InSolutions as wholly owned subsidiaries in the direct marketing, fulfillment and turn-key arenas.
Corporate headquarters is located at 100 Brickstone Square, Andover, MA 01810. Telephone: 978-684-3600. Fax: 978-684-3674. Additional information is available on the company's Web site, cmgi.com.
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