DME Interactive Acquires kathodeRay Media

African-American technology firm DME Interactive Holdings Inc. has acquired kathodeRay Media Inc., an eight-person company that provides back-end design and programming support for advertising and multimedia firms.

Financial terms were not disclosed. DME Interactive markets technology services for entertainment, e-commerce and minority owned businesses.

KathodeRay clients include Cybersites Inc., Touchscreen Media Group Inc., Sony Online, W-trade Inc. and Unifx. The firm produces a range of interactive projects ranging from financial transaction-based sites to medical CD-ROMS, online games, and community sites offering free Web page design and homesteading.

“With the addition of kathodeRay, we are increasing our scaleability to meet the overwhelming demand for our turnkey Internet solutions,” said Darien Dash, CEO of DME Interactive. Top kathodeRay execs are expected to stay on. DME Interactive, which says it is the first African-American Internet company to be publicly traded, is the parent company of Digital Mafia Entertainment, which was formed in August 1995.

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