24/7, TechWave to cross-promote services

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Seattle-based e-commerce company TechWave inked a co-marketing deal with online advertising network 24/7 Media, New York. Under the agreement, 24/7 will promote TechWave's e-commerce enabling services to its 24/7 Network and ContentZone affiliates. TechWave will promote 24/7's advertising sales and e-mail management services to its ShopNow shopping network affiliates. In addition, 24/7 Media will acquire a 19.8% equity stake in TechWave in exchange for 24/7 Media common stock and cash. The companies will develop a suite of co-branded advertising, direct marketing, and e-commerce technologies and services.

Copyright April 1999, Crain Communications Inc.

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