International Monetary Systems, Ltd. (OTCBB:INLM), a worldwide leader in business-to-business barter services, today announced that it has acquired the assets and client base of Bartermax, Inc., a barter trade exchange serving clients in Boston, MA and Providence, RI.
Don Mardak, CEO of IMS commented: "This represents another acquisition of a reputable and long-standing trade exchange in a strategic location. Al Kafka, owner of Bartermax, has been an industry icon and leader for several decades and has cultivated the kind of high-quality exchange network that IMS seeks. We are confident that the clients in these two markets will synergize well with our members nationwide - especially those in our Connecticut and New York markets. This acquisition also adds attractive new travel destinations for our entire business client base."
Al Kafka added: "We are proud to have Bartermax join the ranks of International Monetary Systems. We feel the growth opportunity for our members here is very exciting. IMS is accomplishing a goal that we veterans in the barter industry have long supported - a large network of businesses connected by a common and well-respected trade dollar."
The transaction was financed by a combination of cash, stock and other considerations.
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