The following e-mail will be sent on your behalf.

 has sent the following story to you from ElectricNews.net.

The story is available from https://electricnews.net/news.html?code=5973650

NewWorld merges with IQ Commerce
Monday, February 04 2002
by Matthew Clark


NewWorld Commerce has merged with US company IQ Commerce as the combined firm
claims USD5 million in new venture capital. 



The new company, called NewWorldIQ, is headquartered in California and will offer
all of the on-line and off-line marketing services of its predecessors.
Dublin-based NewWorld was a provider of automated marketing and campaign
management solutions while IQ Commerce sold interactive promotion, direct
marketing and database solutions. 



"The two companies complement each other both in the product sense and in the
geographic sense," explained Donal Daly, former chairman and chief executive
officer of NewWorld Commerce and the current chairman of NewWorldIQ. "We are
strong in Europe and have a presence in the US, they are strong in the US and
have a presence in Europe. We have been focused on B2B, they have been focused on
B2C. The combined product will offer all of these services," he told
ElectricNews.Net. 



As a single entity NewWorldIQ will offer marketers its Enterprise Marketing
Automation (EMA) solution for planning, building and executing multi-stage
marketing campaigns that integrate a variety of on-line and off-line marketing
tactics.



The merger was in the works for six months and no money changed hands in the
deal, Daly explained. 



Along with the merger the new company said it has attracted USD5 million in
funding from eVerger, an international venture capital firm making early stage
equity investments in companies operating in the e-marketing sector. The new
funding will be used to help the company expand its sales operations and also for
product development. NewWorldIQ's product development operations will be run from
its Dublin offices. "Moving our development facilities to Ireland from
California should help us dramatically cut costs, and it's good news for the
Irish economy," said Daly.

  

The combined company will have more than 70 employees, with more than 40 of those
former NewWorld Commerce workers, none of whom were cut, Daly said, in order to
complete the merger. It is understood however that IQ Commerce cut as many as 15
jobs prior to announcing the completion of the deal. 



The new company will be based in IQ Commerce's offices in Saratoga, California. 
NewWorldIQ will also retain its other existing office locations worldwide,
including its offices in Sweden, Seattle and New York, with consolidation of its
two offices in England. 



It has also appointed Michael Mahoney, who was not an employee of either firm, as
its new chief executive officer. 



For more information visit HREF="http://www.newworldiq.com/">http://www.newworldiq.com/.