Webfirm divests its AdFeedEngine division

Company News

Internet technology and marketing company Webfirm Group Ltd (ASX:WFM) has sold its AdFeedEngine online search and advertising system for US$1 million to a US company.

Webfirm’s former Searchworld division developed AdFeedEngine which measures and controls the volume, quality and source of incoming traffic received by search advertising distribution partners.

The sale follows Webfirm’s decision to divest non-core assets so it can focus on the growth of the Adslot business.

Webfirm says the price represents a strong return on the development cost of the AdFeedEngine system.

The company will now work on expanding the growth of search engine optimisation, paid search and social marketing.

Webfirm Group reported a loss of $4.21 million for the year to 30 June 2009.

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