MONTREAL, June 29 /CNW Telbec/ - Mediagrif Interactive Technologies Inc.
(TSX: MDF), a world-leading developer of e-business networks and provider of
complete e-business solutions, announced today that it has entered into an
agreement for the acquisition of all of the issued and outstanding shares of
Market Velocity, Inc. ("MVI"), a leading US-based service and technology
provider for equipment trade-in, recycle, and donation programs. MVI is also
doing business under the well-recognized name of TradeUps. The closing of the
transaction is subject to certain standard conditions, including the approval
of shareholders of MVI at a duly called meeting to be held on July 10, 2007.
Closing of the transaction is expected to take place shortly after the
Market Velocity (www.marketvelocity.com) provides the equipment
manufacturers with complete end to end, online trade-in, recycle, donation and
promotion solutions to implement automated upgrade programs.
About Mediagrif Interactive Technologies Inc.
Mediagrif Interactive Technologies Inc. (TSX: MDF) is a world-leading
operator of e-business networks and provider of complete e-business solutions.
Mediagrif's e-business networks allow buyers and sellers within specific
industries to source, purchase or sell products and to exchange documents more
efficiently using the Internet. Mediagrif operates 14 networks, including
industry leaders The Broker Forum (www.brokerforum.com) Power Source On-Line
(www.powersourceonline.com), Telecom Finders (www.telecomfinders.com), Global
Wine & Spirits (www.globalwinespirits.com) and Polygon (www.polygon.net). The
company also owns MERX (www.merx.com), the exclusive provider of e-tendering
services to the federal government of Canada, and is a leading provider of
government bid aggregation services and e-procurement services in the U.S.
Headquartered in Montreal, Mediagrif through its subsidiaries has various
offices in Canada, the United States, China, India and Dubai. For more
information on Mediagrif please visit us at www.mediagrif.com or call 1 (877)
For further information:
For further information: Catherine Allard, Chief Financial Officer,
Mediagrif Interactive Technologies Inc., (450) 677-8797 ext. 2233,