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June 8, 2009
After Selling Off Media Division, MIVA to Rebrands as Vertro
In March, MIVA sold off its media division to Adknowledge. Now, they're rebranding their newly-focused business as Vertro.
"We're excited to announce the planned launch of Vertro. We believe the rebrand is the culmination of a period of significant change for our Company following the sale of MIVA Media in March," said Peter Corrao, MIVA's President and Chief Executive Officer. "Following the sale, we now have a strengthened balance sheet, reduced overheads and a streamlined team that can now focus its resource on the development and expansion of our consumer-oriented product portfolio."
Vertro will be focused on their ALOT toolbar and desktop to provide third-party content for searchers to discover and publishers to display.
The company's stock was traded on the NASDAQ. The ticker symbol will change from NASDAQ:MIVA to NASDAQ:VTRO. The changes are expected to be complete by today.
Posted by Nathania Johnson on June 8, 2009 1:25 PM
Comments
Unbelievable!!!
Those guys sold off the company european business after charge all the world-wide costs as intercompanies. At the end, after 2 years of the worst top management i've ever seen making the worst possible decissions, now those same guys are piloting again the company.... Good luck anyway but do not expect i am buying any stock... i give them 2 years... i know the product and it's already obsolete.
ex-employee June 26, 2009 7:04 AM
