Press Release
InterSearch Group Announces Acquisition of Internet Domains; Expands its Portfolio of Direct Navigation Portals
Wednesday June 14, 2006 9:06 am ET
InterSearch Group (OTC:IGPN - News), a leading provider of Internet search services and operator of industry specific destination portals, announced today that it has acquired a portfolio of Web properties reflecting the company’s strategy to expand its direct navigation business. The acquired domains include www.camps.com and www.summercamp.com.
These domains are in line with the company’s previously stated acquisition criteria. First, the transaction expands the company’s presence in the high-value travel and vacations vertical. Second, management believes that the domains are underutilized, and that significant revenue upside exists through content development and leveraging InterSearch Group's advertising relationships. Finally, the acquisition is expected to mitigate some of the seasonality related to tax domains owned by InterSearch that generate the substantial portion of revenues in the first fiscal quarter.
Said InterSearch Chairman and CEO Dan O’Donnell, "Today’s acquisition is another important step in growing our higher margin proprietary traffic channel."
The company had previously acquired www.irs.com, in the fourth quarter of 2005 and, since then, has successfully doubled the domain's revenues to $2.8 million in the first quarter of 2006, due in part to changes in the monetization structure and building enhanced content.
About InterSearch Group, Inc.
InterSearch is a leading provider of Internet search services through a combination of traffic aggregation and proprietary websites, such as www.irs.com, www.camps.com and www.summercamp.com The company operates in the fastest growing segments of Internet commerce including paid search, direct navigation and online marketing driving high quality traffic to advertisers and providing users with quick access to pertinent products and services. Through its InterSearch Corporate Services division, the company also provides IT and Internet Technology Professional Services to large corporations, predominantly in the financial services market. InterSearch is headquartered in San Francisco, California at 222 Kearny Street, Suite 550, and can be reached via telephone at 415-962-9700. More information about InterSearch Group, Inc. can be found at http://www.intersearch.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. Forward-looking statements, which are based on management’s current expectations, are generally identifiable by the use of terms, such as "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "possible," "potential," "predicts," "projects," "should," "would" and similar expressions. The potential risks and uncertainties that could cause actual results to differ materially from those expressed or implied herein include, among others, the Company’s ability to raise additional debt or equity financing, the Company’s relationships with its current and future advertising and distribution network partners, the Company's ability to achieve anticipated results from acquisitions, and market development of Internet advertising and paid search services. Further information on the factors that could affect the Company’s financial results is included in the Company’s SEC filings, including the most recent registration statement filed with the SEC under the heading "Risk Factors." Except as required by law, InterSearch Group assumes no obligation to update these forward-looking statements publicly, even if new information becomes available in the future.
Investor Contact:
BPC Financial Marketing,
John Baldissera,
800-368-1217.