Little Bear Investments LLC Announces the Acquisition of LiveOnTheNet by Traffix, Inc.
Friday February 20, 2004, 10:50 am ET
NEW YORK, February 20, 2004 — Little Bear Investments LLC (“Little Bear”, or the “Firm”) announced today that one of its’ portfolio companies, LiveOnTheNet (“LOTN”), has signed an agreement to be acquired by Traffix, Inc. (“Traffix”, Nasdaq: TRFX). The consideration being paid by Traffix is over $1 million, with 80% in common stock of Traffix. For more information on the transaction please see the TRFX press release at http://biz.yahoo.com/bw/040219/195099_1.html.
Zachary Prensky, managing member of the Firm, commented that: “With the acquisition of LOTN, we continue to pare down the portfolio that we acquired from Divine, Inc., in May of last year. As LOTN has developed some excellent technology in the area of consumer PC technical support, we feel that Traffix is a good fit as they are well positioned to commercialize the technology and make it a success in the marketplace.”
Traffix is a direct marketing company that generates sales and targeted leads for its clients primarily from its on-line media properties. It owns a variety of websites, and manages a database of millions of permission based, on-line consumers. Traffix also operates proprietary, direct-to-consumer businesses including iMatchup.com, one of the most popular on-line dating sites, and ClickHelp, a live computer technical support service. For more information about Traffix, Inc. visit the website at www.traffixinc.com.
About Little Bear
Little Bear Investments, located in the heart of Midtown Manhattan, is a merchant bank that focuses on investing in both public and private companies. Our broad range of investment experience includes: tender offers, private placements, PIPE’s, reverse mergers and bankruptcy auctions. Little Bear also offers financial, operational and strategic advisory services. Working with companies large and small, we bring the same disciplined approach to our clients as we do to businesses in which we have deployed our own capital.
If you have any questions regarding this press release, please contact Zachary Prensky at Zach@LittleBear.us or at 212-946-2736.