Matchbin Buys Traffic.com, Creates Radiate Media
October 17, 2011 at 3:43 AM (PT)
NOKIA's NAVTEQ division has sold TRAFFIC.COM to media software company MATCHBIN, reports the PHILADELPHIA INQUIRER. The sale, for an undisclosed price, saves TRAFFIC.COM's MALVERN, PA office from closing.
MATCHBIN CEO HAL WIDLANSKY told the INQUIRER that TRAFFIC.COM's CHRIS ROTHEY is serving as CEO of the newly-renamed combined company RADIATE MEDIA, which will continue to offer traffic information for radio and television as well as MATCHBIN's content management systems.
"We are pleased to continue to serve the broadcast industry with our world-class traffic content through our collaboration with RADIATE MEDIA," said NAVTEQ VP Traffic HOWARD HAYES in a press release. "The broadcast partners that will be served by RADIAE will see no interruption in service."
"Merchants are looking to multiple advertising avenues to promote their business, particularly at the local level", added WIDLANSKY, who will serve as President and COO. "RADIATE MEDIA is positioning itself to help media partners become critical players in the growing local advertising market."