MediaNet Group Technologies Inc., through its BSP rewards division, has developed the largest online mall and affinity program platform. The company generates product purchases from over 1,000 participating mall merchants, including the nation’s largest retailers, as well as from gift cards and a large discount catalog. Some of the participating retailers include: Walmart, Target, Sears, Best Buy and Macy’s.
MediaNet Group Technologies recently announced that it has entered into a definite merger agreement with CG Holdings Ltd., a privately-held, European-based holding company for the DubLi companies. DubLi is a worldwide online trading firm composed of two very unique and individual business models: DubLi.com – a reverse auction portal for high end branded merchandise such as Rolex, Gucci, Apple and Nintendo, and DubLi Network – a business opportunity where consumers can establish their own business in a competitive market.
The merger was agreed to after a partnership between the two companies began several months ago. The business relationship was very successful and both companies saw the benefits and synergies of combining the two firms.
Founder and president of DubLi, Michael Hansen, commented on the merger, “The new opportunity created by combining two shopping alternatives, which are both recognized leaders in their respective areas, is unparalleled. We see great potential synergies for both shopping portals to grow and diversify while strengthening their respective market positions.”
Martin Berns, founder, chairman and CEO of MediaNet Group Technologies, stated, “DubLi’s expertise at creating a unique and unparalleled shopping experience for consumers through the auction process and BSP’s ability to offer an enhanced shopping experience with rewards and discounts from over 1000 national merchants on everyday shopping items are natural fits.”
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