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CLEARWATER — As Seen On TV Inc., the parent business of TVGoods Inc., has closed on its purchase of AsSeenOnTV.com. It acquired the website for $2.72 million in cash, stock and warrants.
As its name suggests, Clearwater-based AsSeenOnTV.com focuses on selling products online that have been featured on television. It has more than 2 million customers, 700,000 email registrants and hundreds of thousands of unique visitors each month.
The website is licensed and operated by the company Delivery Agent, which generated $5.45 million in gross revenue in 2011. Through the first half of the year, the website generated 40% revenue growth year over year.
As Seen On TV Inc. (symbol: ASTV, recent price: $1) has assumed the existing license agreement with Delivery Agent and will receive a 7.5% royalty of the gross revenue generated by the website.
TVGoods is a direct marketing company that develops, markets and distributes consumer products. It's designed to help entrepreneurs introduce products using commercials, infomercials, TV shopping networks, retail outlets and Internet, catalog and print media.
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