Advertising firm 24/7 Media Inc., and chinadotcom Corp., in which 24/7 Media owns a significant equity stake, on Monday announced plans to establish AwardTrack Asia, a joint venture to expand the companies’ loyalty solutions technology and marketing platforms.
The deal is an outgrowth of 24/7 Media’s (TFSM) recent acquisition of AwardTrack, a loyalty reward online points program.
Under the terms of the deal, AwardTrack Asia will become the exclusive provider of the AwardTrack loyalty technology and its AwardPoint currency in Asia. That territory will include the chinadotcom (CHINA) Asian portal network and Web site affiliates of 24/7 Media Asia.
“AwardTrack Asia validates 24/7 Media’s long term business strategy of fulfilling the promise of online marketing – building enduring one-to-one relationships with customers using private labeled loyalty programs,” said David Moore, 24/7 Media’s president and chief executive officer.
“This venture will enable our Asian partner and its Web sites and e-commerce customers to offer points-based incentive services on their Web sites, including in banner ads over the 24/7 Asia Network.”
The joint venture is a move to begin establishing AwardTrack as a major player in the Asian market, where 24/7 Media already has partners and client relationships. MyPoints.com (MYPT), one of the major US rewards players, has launched efforts in Europe, Australia, and Latin America, but it has not yet reached Asia.