Acquisition Bolsters Active’s Government Business and Extends Presence into Camping Market
SAN DIEGO, CA – August 16, 2007 – The Active Network, Inc. (Active), a leading provider of application services technology and marketing solutions for community service and participatory sports organizations, today announced that it has finalized its acquisition of InfoSpherix, Inc., a subsidiary of Spherix Incorporated (NASDAQ/SPEX). Spherix’s board of directors approved a definitive agreement to sell the stock of InfoSpherix for $17 million in an all cash transaction.
InfoSpherix has more than 320 full-time employees and contracts with government agencies to design, host and operate park reservation services. Operating park reservations contracts for 14 states and three counties, InfoSpherix is a major provider of centralized reservations and point-of-sale services for camping, boating and other kinds of attractions commonly found at public parks. The company also operates several non-reservations contact center projects for federal and state government agencies.
“The acquisition of InfoSpherix is significant in that it allows Active to firmly enter the public parks and camping market, an area we see as a natural fit for our services,” said Matt Landa, president of The Active Network. “Active is extremely excited about the opportunity to deliver product offerings and online resources that will benefit both park service operators and camping enthusiasts.”
Additionally, the acquisition of InfoSpherix will enable Active to increase its breadth of offerings in the government, golf and community recreation markets with tier one call center capabilities, as well as extend its success beyond local governments to the state and federal level. With more than 3,000 community organizations and over 80 percent of the largest city parks and recreation departments throughout the U. S. and Canada using Active’s technology solutions, Active is currently well-established within municipal and county governments.
InfoSpherix president and CEO Richard Levin will join Active and lead the company’s efforts in the camping market. “We at InfoSpherix are excited at the opportunity to join an innovative, rapidly growing company that shares our vision,” stated Levin. “We look forward to the chance to expand our product offerings and the increased ability to better serve our clients.”
About The Active Network, Inc.
The Active Network, Inc., based in San Diego, Calif., provides application services technology and marketing access to community service organizations, and is a leading online community for active lifestyles. The company’s solutions help organizations improve customer service capabilities, increase revenues, and reduce the cost and complexity of managing and marketing activities and events. Through the company’s Web properties, http://www.Active.com, http://www.eteamz.com, http://www.ActiveGolf.com, http://www.CoolRunning.com and http://www.LaxPower.com. The Active Network provides consumer services and resources that support participation in healthy lifestyles. For more information, please visit www.ActiveNetwork.com or call 1-888-543-7223.
Tina Wilmott, The Active Network, Inc.
email@example.com or 858-964-3813