LONGUEUIL, QC, July 11 /PRNewswire-FirstCall/ - Mediagrif Interactive
Technologies Inc. (TSX: MDF), a world-leading developer of e-business
networks and provider of complete e-business solutions, announced today
that it has completed the previously announced acquisition of Market
Velocity, Inc. ("MVI"), the leading service and technology provider for
equipment trade-in, recycle, and donation programs in the US.
"We are very pleased to have concluded this acquisition. MVI is well
respected for their expertise in developing compelling solutions for the
trade-in market and will strategically complement our Parts Exchange
division. It will offer added value to our current customers by giving them
access to top-tier manufacturers, and will bring the largest pool of
aftermarket remarketers to existing MVI clients. The acquisition of MVI
will solidify our position as the predominant player in this segment and
accelerate our expansion throughout North America. It will also extend
Mediagrif's reach in penetrating the end-consumer market segment," said
Denis Gadbois, President and Chief Executive Officer of Mediagrif.
Established in 2000, Market Velocity (www.marketvelocity.com) provides
equipment manufacturers with complete end-to-end, online trade-in, recycle,
donation and promotion solutions that accelerate the refresh to the latest
technology offered by our clients. Market Velocity's solutions are easy for
clients to implement, requiring minimal internal resources and no trade-in
program expertise. MVI has offices in Duluth, Georgia and Charlotte, North
"We are excited that MVI has become part of the Mediagrif team.
Mediagrif's commitment to MVI's current management, coupled with their
exceptional technical development resources and dedication to providing
world-leading e-business solutions will enable us to enhance and add new
features to our suite of services resulting in a more robust product
offering for our clients," said Mark Eigenbauer, newly appointed President
About Mediagrif Interactive Technologies Inc.
Mediagrif Interactive Technologies Inc. (TSX: MDF) is a world-leading
operator of e-business networks and provider of complete e-business
solutions. Mediagrif's e-business networks allow buyers and sellers within
specific industries to source, purchase or sell products and to exchange
documents more efficiently using the Internet. Mediagrif operates 14
networks, including industry leaders www.brokerforum.com,
www.globalwinespirits.com and www.polygon.net. Mediagrif also owns MERX,
www.merx.com, the exclusive provider of e-tendering services to the
Government of Canada, and is a leading provider of government bid
aggregation services and e-procurement services in the U.S. Headquartered
in Longueuil, Mediagrif has various offices in Canada, the U.S, China,
India and Dubai. For more information, please visit us at www.mediagrif.com
or call 1 877 677-9088.
SOURCE MEDIAGRIF INTERACTIVE TECHNOLOGIES INC.