
Dominion Enterprises Acquires PowerSports
Network
Norfolk, VA (2/19/2007) - Dominion
Enterprises today announced that it has acquired PowerSports
Network (PSN), the country's largest provider of web
site development services for power sports dealers.
PSN also provides services to a growing number of dealers
in the marine industry. Terms of the transaction were
not disclosed.
PowerSports Network, headquartered in Sussex, Wis.,
was founded in 1998. PSN currently serves more than
2,100 customers in the United States, Canada and Puerto
Rico, and has continually doubled its customer base
every year since its founding.
"We are pleased to welcome the number one developer
of web sites for power sports and marine dealers to
the Dominion Enterprises family," said Conrad M.
Hall, Chief Executive Officer. "By combining PSN
with our own Vehicle Web Services businesses, Dominion
has greatly enhanced its ability to offer end-to-end
solutions for dealers who are looking to build their
business on the web."
With expertise in online and print advertising, as
well as web services, Dominion Enterprises serves as
a single source for power sports and marine dealers.
The company's current portfolio includes some of the
most visited cycle and marine web sites, including Boats.com,
Yachtworld.com, BoatTrader.com and CycleTrader.com,
and local and national print publications such as Cycle
Trader, Walneck's Classic Motorcycle, Boat Trader and
Yacht Trader. In the fast-growing web services area,
the company offers Cycle Web Services and Marine Web
Services, which provide dealers with the most advanced
products and services including web sites, lead management
tools and comprehensive lead-generation products.
Nick Avgoulas, Principal of PSN, said, "In combination
with Dominion Enterprises, we foresee PowerSports Network
continuing along a dramatic growth curve. On 'day one'
of this acquisition, we are part of a much larger company
with an established portfolio of both print and web-based
resources for dealers. Our total offering will be integrated
across a broad variety of portals serving the power
sports and marine industries."
The company's three co-founders, Nick Avgoulas, Steve
Weiner and Kevin Brandenburg, will all join Dominion
Enterprises.
"With the addition of PSN's first-rate capabilities,
we will be able to better serve our customers, going
well beyond advertising into other, richer services
such as e-commerce, drip marketing and lead management,"
said Rick Murchake, Vice President, Dominion's Vehicle
Web Services division. "PSN's capabilities and
its senior leadership promise to make Dominion Enterprises
the unparalleled leader in integrated print and web-based
initiatives for powr sports and marine dealers."
About PowerSports Network
(PSN):
PowerSports Network was
founded in 1998 with the goal of helping power sports
and marine dealers leverage their brick and mortar store
on the Internet. Today, PSN is the largest provider
of dealer web sites for motorcycle, power sports and
marine dealers, with over 2,100 dealers located in all
50 states and Canada. PSN focuses exclusively on the
power sports and marine industries to provide a complete
dealer web site solution, lead management, and other
marketing tools to help dealers harness the power of
the Internet on behalf of dealers. PowerSports Network
is headquartered in Sussex, Wis. For more information,
visit PowerSports Network at www.powersportsnetwork.org
or call (800) 556-0314.
About Dominion Enterprises:
Dominion Enterprises, headquartered in Norfolk, Va.,
is a leading media and information services company
serving employment, real estate, recreation, and industrial
markets in the United States. The company has over 500
paid and free magazine titles such as For Rent, Harmon
Homes, The Employment Guide, Boat Trader, Cycle Trader
and RV Trader with a combined weekly circulation of
over 5 million; over 40 market-leading websites such
as www.ForRent.com,
www.HarmonHomes.com,
www.Homes.com,
and www.TraderOnline.com
reaching over 8 million monthly visitors; data capture
and distribution businesses such as Dealer Specialties;
and web services businesses across all the company's
industry categories. The company has 6,600 employees
nationwide and 2006 annual revenue of $850 million.
For more information on Dominion Enterprises, visit
www.dominionenterprises.com
www.dominionenterprises.com
150 Granby Street
Norfolk, VA 23510
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