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24/7 Real Media sells stake in iPromotions

24/7 Real Media, a Net advertising technology company, said Friday that it sold its majority stake in iPromotions to a group of private investors, including employees of the Seattle-based interactive marketing agency. New York-based 24/7 will keep a minority interest in and a working relationship with iPromotions, which helps travel-related companies measure the effectiveness of their online marketing campaigns. Terms of the divestiture were not disclosed.

"This transaction will allow 24/7 Real Media to enjoy the benefits of a strategic partner in the promotions business," company Chief Executive David J. Moore said in a statement. "This will help us focus on our core media business, while expanding our successful WebSite Results search optimization unit and enhancing our leading Open AdStreamTM ad serving platform."