Saskatoon, SK and Denver, CO, May 27, 2008 – Point2 Technologies Inc. (“Point2”), the real estate industry’s largest independent provider of web site and listing syndication software for real estate professionals, and Local Matters, Inc. (“Local Matters”), a media technology solutions provider and specialized online media publisher, today announced an Agreement of Sale and Cooperation for Point2’s Facebook Neighborhoods application.
The deal incorporates a perpetual, revenue share and cooperation structure that enables both companies to capitalize on the application’s future growth.
Local Matters will assume the ongoing development and marketing efforts of the application, drawing on Point2 for maintenance and development of the Neighborhoods database upon which the application is based.
“We view this as a long term strategic partnership that leverages the synergies of two complementary organizations,” said Perry Evans, Founder and Chief Executive Officer, Local Matters.“Events that occur in your neighborhood are extremely important to consumers, which makes Neighborhoods one of the most substantial and useful applications on Facebook, even in its early stages of adoption. We’re excited to partner with Point2 to capitalize on a very unique opportunity to connect one of the world’s largest social networks to a range of community centered local content and services.”
Point2 launched Neighborhoods for Facebook in July 2007. To date, 800,000 Facebook users have installed the application. Facebook boasts over 70 million active users and is the sixth most trafficked web site in the world today, according to comScore.
The Neighborhoods application for Facebook draws on Point2’s proprietary and dynamically updated international neighborhoods database that forms the foundation for the Point2 Homes (www.Point2Homes.com) consumer real estate search portal.
“We cannot think of a more strategically viable partnership and path to continue to develop Neighborhoods for Facebook, optimize its benefits for our members and tap its revenue potential than with Local Matters,” said Saul Klein, Point2 Technologies Chief Executive Officer. “With social networks redefining marketing, Local Matters’ deep knowledge and focus in local publishing and advertising will enable both our organizations to fully expand and capitalize on the application’s unique position on Facebook.”
Under the deal, Point2 will continue to syndicate listings and enable advertising bookings by its members into Facebook Neighborhoods.
Further details about the transaction have not been disclosed.
Neighborhoods for Facebook enables consumers to find out who lives in their area, stay up to date on, or post information about local events and issues of interest to their community. Real estate brokers and agents who use the Point2 Agent web site and listing syndication solution can also automatically post listings for free on Facebook, as well as purchase enhanced placement on the site in a highly targeted, hyper-local manner.
About Local Matters
Local Matters, Inc. is a media technology solutions provider and specialized online media publisher focused on the local search industry. It offers solutions that enable consumers to search for local content both online and through voice-based directory assistance. Local Matters owns and operates a network of thousands of locally oriented web sites featuring content directed at consumers seeking extensive information about specific local shopping or planning activities. Local Matters delivers its media technology solutions to 22 Yellow Pages publishers in 14 countries, and 26 directory assistance service providers in 12 countries. More information can be obtained at www.localmatters.com.
About Point2 Technologies Inc.
Point2 Technologies develops and markets web-based software solutions for the real estate and heavy equipment industries. In real estate, Point2 is the largest independent provider of web site and listing syndication software for real estate professionals, with over 185,000 brokers and agents subscribing to the Point2 platform, in 100 countries. Point2’s real estate user base continues to grow by over 1,200 additional members each week. Point2 also owns and operates the real estate consumer search portal, Point2 Homes (www.Point2Homes.com).
In the heavy equipment industry, Point2 is a leading provider of e-commerce solutions, powers Caterpillar Inc.’s global heavy equipment dealer network and owns and operates www.UsedIron.com, one of the largest used equipment venues online.
Founded in 1996, Point2 Technologies is privately held and employs a staff of 100 at its headquarters in Saskatoon, SK and its Vancouver, BC offices. More information can be obtained at www.Point2.com.
Point2® is a trademark of Point2 Technologies Inc. All other company and product names may be trademarks of the respective companies with which they are associated.