Onfolio Holdings' RevenueZen Unit Acquires First Page Strategy Assets

MT Newswires Live05-29

Onfolio Holdings (ONFO) said Wednesday its RevenueZen subsidiary has acquired substantially all of the business assets of First Page Strategy, a privately held search engine optimization and advertising consulting firm.

The asset purchase deal included a nominal cash down payment, Onfolio said, with the rest of the undisclosed consideration paid through a revenue-sharing agreement between the companies over 36 months.

First Page leadership and strategist roles will continue under RevenueZen and the two companies' websites will be combined on revenuezen.com, Onfolio said, adding RevenueZen expects to realize significant cost savings with the acquisition.

Onfolio shares were sinking over 16% in recent trading Wednesday.

Price: 1.11, Change: -0.22, Percent Change: -16.54

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