Neverblue Bought by GlobalWide MediaWritten by Pace Lattin
July 31, 2012 # 7:23 pm # Industry News, Specials # 11 Comments
Neverblue has lucked out, with GlobalWide Media purchasing the company today for a currently unknown amount. Neverblue had been on the auction block until today, as part of the bankruptcy proceedings of its parent company, V2V (Velo) Holdings. While most of the industry said that Neverblue would most likely be bought and easily survive the bankruptcy, many publishers stopped working with Neverblue after several issues arose — including bounced checks and rumors that employees were leaving. With this purchase by GlobalWide Media, it gives new hope for the company and its affiliates that the company will not only remain but likely thrive.
“We are excited to enhance our capabilities and reach with the Neverblue acquisition,” announced Farshad Fardad, CEO of GlobalWide Media. “GlobalWide Media’s and Neverblue’s core competencies are highly complementary and will allow the combined company to further accelerate the growth initiatives of both companies, with the ultimate goal of delivering profitable highly targeted customers to our advertisers and additional value for our media partners.”
“The Neverblue team has developed solid relationships and partnerships in the industry that have contributed to the company’s success. We look forward to building upon these efforts of the Neverblue team,” Fardad added.
“We look forward to continuing to provide great service to our clients and to investing in the growth of our business together with GlobalWide Media,” said Hakan Lindskog, CEO of Neverblue.