Carlson Marketing Group is to buy the assets of defunct Internet currency operator beenz.com in a multi-million dollar deal.
Carlson's acquisition includes all hardware and software assets, the beenz brand and all the company's intellectual property assets including patents. Carlson is looking to integrate beenz technology and patents into its existing loyalty programme Gold Points Rewards so as to expand the system.
Prior to closing operations, Beenz had been working with Carlson on developing technology for consumers to receive loyalty points for offline sales using barcodes printed on product packaging.
"The merging of the beenz patents with our existing proprietary technology opens a whole new frontier in building brand loyalty for our clients, particularly the packaged goods marketplace," says Jim Ryan, president and chief executive officer, Carlson Marketing Group.
He says the group has already begun to design several unique applications using beenz technology for client programmes. In addition, the beenz system for developing on-package award codes will be used to further develop and expand the Gold Points Rewards programme internationally.
"In the midst of the downturn in the Internet economy and a challenging business environment, we worked tirelessly to maintain the beenz network and to continue the development of our sophisticated technology while aggressively and effectively mitigating the business' liabilitiess" says Stephen Limpe, president and chief executive officer of beenz.com.
Carlson Marketing Group's acquisition includes the following:
* The beenz network assets division. This includes the beenz transaction engine - the technology that allowed consumers to earn and spend beenz - as well as the technology that permitted retailers to accept beenz orders online in real-time. This technology was developed in-house by beenz.com using Oracle, Sun Microsystems and Exodus technology. It also includes the beenz hardware and proprietary software which beenz.com developed in-house and which managed the beenz consumer accounts network.
* The RewardzCodes division - a patented technology which allows businesses to reward consumers digitally via codes printed on all product packaging. The sale includes the transfer of the issued and pending patents relating to this technology.
* The beenz brand - with more than five million registered accounts world-wide.
As part of the transition, beenz account holders will be welcomed into the Gold Points Rewards programme, a consumer loyalty system that rewards its members both online and offline each time they use their card at participating partners. There are currently six million Gold Points Reward members who earn and redeem points at 3500 partner locations. These points are redeemable for rewards such as travel, hotel stays, cruises, airline miles, dining options, car rentals, flowers, and a wide variety of merchandise and personal services.