24/7 Real Media sells broadband subsidiary

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New York—24/7 Real Media Inc. announced the sale of its broadband and professional services subsidiary, Imake Software and Services Inc., to an investment group headed by Imake President Mark Schaszberger, for $6.5 million.

The terms of the deal include $500,000 paid in cash at closing, and the remainder in a secured note, contingent on future revenue.

Imake provides digital content, subscriber and product management solutions. It is now working with the telecommunications, cable, entertainment and hospitality industries to provide software that produces and distributes digital content and manages subscribers in real time.

24/7 Real Media is the result of a merger between 24/7 Media and Real Media in October 2001. Imake was previously part of 24/7 before the merger.

--Kate Maddox

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