Engage agrees to acquire Japanese ad network

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Engage, an online marketing services provider, assumed majority ownership of Engage Technologies Japan, a joint venture between Engage and Sumitomo Corp. The restructuring of the joint venture provides Engage with a 66.6% ownership stake and will allow Engage to accelerate the introduction of its products and services into Japan. Naomi Tomita was named president-CEO from president-CEO, PictureTel Japan. In a related transaction, Engage Technologies Japan agreed to acquire all of the assets of Interactive Solutions, an Internet advertising network owned by Sumitomo. Financial terms were not disclosed.

Copyright June 2000, Crain Communications Inc.

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