InterSearch Group Announces Acquisition of MyBanks.com
17 Julio 2007 - 7:30AM
Business Wire
InterSearch Group, Inc. (AMEX:IGO), a leading operator of premium,
industry specific destination portals such as www.Banks.com,
www.IRS.com and www.Look.com today announced it has acquired the
internet domain, www.MyBanks.com. The acquisition of MyBanks.com
continues InterSearch Group�s strategy and focus on expanding its
presence in the financial services vertical of online advertising.
Financial services, which is one of the largest and fastest growing
areas of online ad spending, is the core competency of InterSearch
Group. The company�s proprietary finance related domains represent
the major source of its online traffic, and have been experiencing
strong traction with online users and advertisers. The MyBanks.com
acquisition complements InterSearch Group�s Banks.com domain, a
premier online consumer finance marketplace aggregating information
on a broad range of products and fees including mortgages, credit
cards, auto loans, debt management, and retirement. MyBanks.com
will provide a platform for personalized user pages, allowing
visitors to monitor performance of their investment portfolios,
record and analyze their income and expenses, and keep track of
important consumer finance metrics. It will also host user
generated content on a variety of financial topics, providing
customers with an opportunity to share investment advice and ideas
with each other, discuss their experience with various financial
products, etc. Andrew Keery, Executive Vice President of Product
Management at InterSearch Group, said, �Our goal is to build a
collection of premier category-level domains that would serve as an
online destination of choice for any finance related information
and products. We are striving to be the source of extensive,
targeted content in the key consumer finance areas and to serve as
a liaison between consumers and leading financial institutions.�
�Our finance related domains attract a highly targeted audience due
to their narrow focus on the consumer finance vertical. This is
valuable to advertisers and leads to above average pay per Click
(PPC) values. MyBanks.com is certainly a great strategic fit for
us, representing another category level property with a direct
focus on finance. We believe that customization features as well as
Web 2.0 applications facilitating user generated content will
significantly enhance customer experience, drive increased user
retention, page views and, ultimately, revenues,� concluded Keery.
Forward Looking Statements This press release contains forward
looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 that involve substantial risks and
uncertainties. Forward looking statements, which are based on
management�s current expectations, are generally identifiable by
the use of terms, such as �anticipates,� �believes,� �could,�
�estimates,� �expects,� �intends,� �may,� �plans,� �possible,�
�potential,� �predicts,� �projects,� �should,� �would� and similar
expressions. Forward looking statements contained in this press
release include statements regarding: our goal to build a
collection of premier category level domains in the financial
services vertical and the enhanced user experience on MyBanks.com
and resulting increased revenue. The potential risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied herein include, among others,
failure to compete successfully in the financial services vertical;
uncertainties related to the acceptance by customers of our
enhanced version of MyBanks.com; and changes in general economic
and business conditions. Further information on the factors that
could affect InterSearch Group�s financial results is included in
our filings with the Securities and Exchange Commission, including
our Annual Report on Form 10-KSB for the fiscal year ended December
31, 2006, our quarterly reports on Form 10QSB and our Current
Reports on Form 8-K. Except as required by law, we assume no
responsibility to update these forward looking statements publicly,
even if new information becomes available in the future. About
InterSearch Group, Inc. InterSearch Group is a leading operator of
industry specific destination portals and provider of Internet
search services through a combination of traffic aggregation and
proprietary websites, such as www.Banks.com, www.IRS.com and
www.Look.com. InterSearch Group operates in the fastest growing
segments of Internet commerce including paid search, direct
navigation and online marketing driving high quality traffic to
advertisers and providing users with quick access to pertinent
products and services. Through its corporate services division,
InterSearch Group also provides Internet technology related
professional services to large corporations, predominantly in the
Financial Services industry. InterSearch Group is headquartered in
San Francisco, California at 222 Kearny Street, Suite 550, and can
be reached via telephone at 415-962-9700. More information about
InterSearch Group can be found at: www.InterSearch.com.
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