NetZero Buys AimTV for 1 Million Shares

NetZero, a national provider of free Internet access and e-mail, has completed its acquisition of AimTV.

AimTV has developed a patent-pending technology designed to enable advertisers to run broadcast-quality television commercials over the Internet.

In the stock-for-stock transaction, NetZero acquired AimTV for approximately 1 million shares of NetZero stock.

NetZero will initially use the technology to run commercials during the Internet dial-up process. The service will be offered to advertisers under the name GroundZero. The company expects to roll out GroundZero during the first half of next year.

With the acquisition, Brian Woods has been appointed chief marketing officer and senior vice president of NetZero. He was formerly the chief executive of AimTV.

NetZero provides consumers with free access to the Internet while offering online advertisers access to those users. The company offers its services in more than 1,800 cities across the United States.