Canal Winchester, Ohio – (The Hosting News) – December 19, 2008 – Managed, dedicated and colocation hosting services provider, iB3 Networks, Inc. has signed a definitive agreement to acquire NYC Mags, Inc., the owner of MadisonAvenueMatch.com.
The Agreement consists of an all stock deal, including 150,000 at $0.50 a share for actual purchase of NYC Mags, Inc. and all IP associated with MadisonAvenueMatch.com; an employment agreement for Michael Jacobson who has been appointed President of MadisonAvenueMagazine.com by iB3’s board, a 1% of the issued and outstanding shares in warrants exercised at $0.50 a share, and an additional 850,000 shares for completion of milestones, as detailed, in iB3’s 8K SEC filing.
MadisonAvenueMatch.com, a development stage website expected to launch in first quarter of 2009, is an upscale online dating web based service focused on New York City men and woman, with busy careers, looking for someone special in their lives. This site is expected to attract immediate membership by offering a complimentary 30-day trial, and access to private mixer events, MadisonAvenueMatch.com will offer its new members the ability to upgrade with a vast array of membership options, ranging from $39.99 to $99.99.
iB3 Networks, Inc. (OTC Bulletin Board: IBNW – News) and its wholly owned subsidiary iBeam Solutions, is a Microsoft Gold Certified Partner with a proven track record of delivering scalable hosting solutions, managed hosting, dedicated hosting and colocation, IT infrastructure, 100% uptime SLA and 24x7x365 First Call Support, virtual help desk, managed services, design and implementation of networks, security and Internet monitoring, technical support, web development, application development, database development and support, wireless solutions, Internet businesses, and is a Cisco Certified Select Partner.
To learn more, please visit: www.ib3networks.com.