Canada’s Intertainment Media has agreed to acquire Canada’s DealFrenzy.com, a me-too daily deals site. The company coughed up half a million dollars in cash and $200,000 in Intertainment common stock at $1 CDN per common share to purchase its technology, deal pipeline and team.
The acquisition is expected to close by the end of this month (Intertainment is a publicly listed company so needs regulatory and board approval first).
DealFrenzy.com isn’t actually live yet, and is scheduled to become available in early July 2011. According to the press release announcing the acquisition, DealFrenzy has partnerships in place with brands like Yogen Fruz, Things Engraved and Jamba Juice.
The service will be integrated with Intertainment’s Ortsbo, a real-time experiential translation platform, allowing offers to be communicated in over 50 languages. I don’t know how valuable that will turn out to be for a local commerce service, but that’s just me.
In addition, Intertainment’s KNCTR platform will provide registered DealFrenzy members with free voice communications and other social media tools in order to offer more communication means for collective buying of deals.
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