Altitude Group In Advanced Negotiations for Promotional Marketing Division
Altitude Group today released an update on the offer they received for their promotional marketing division, which Promo Marketing first reported on in May. According to the statement, Altitude Group's board of directors is in an "advanced stage" of negotiations for the sale of their promotional products business. This division of the company accounts for 75 percent of their revenue, the remainder made up by their e-commerce business.
Last week, Altitude Group issued another press release regarding the acquisition of Technologo by Trade Only, an Altitude Group subsidiary. ASI had sought a temporary restrainin order against the acquisition, citing a breach of contract with Technologo's former owner, Landmark Corporate Marketing Services. According to the statement released by Altitude Group, "all matters have now been settled to the satisfaction all parties [sic], which have each agreed to bear their own costs."
Stay tuned to PromoMarketing.com for more information.