MINNEAPOLIS and BOSTON, Jan. 26 /PRNewswire/ -- Fingerhut Companies, Inc.
(NYSE: FHT), one of the nation's largest direct marketers and online
retailers, and Roxy Systems, Inc., the leading marketer of digital technology
products on the Internet, today announced that Fingerhut has acquired a
19.9 percent equity interest in Roxy Systems, Inc. Financial terms of the
agreement were not disclosed.
Roxy Systems, Inc. is an Internet marketer of digital communications and
entertainment services, such as home satellite TV, digital wireless phone and
dial-up Internet services, to the consumer.
Roxy has forged groundbreaking merchandising partnerships with top
Internet sites including the Excite Networks, Broadcast.com, CBS SportsLine,
Yahoo, MSN Shopping, and the Disney family of Internet sites, including
ESPN.com, ABCNEWS.com, NASCAR Online, and NBA.com. Combined, these Internet
sites reach more than 50 percent of the total Internet audience every month.
In addition, Roxy offers its select line of Digital Products for the Digital
Age(TM) directly to consumers through its own web sites http://www.roxy.com,
http://www.pcscentral.com and http://www.satellite.com
"This investment in Roxy is yet another example of Fingerhut's aggressive
strategy to grow through electronic commerce," said Fingerhut Chairman and
Chief Executive Officer Ted Deikel. "You can be sure that we will continue our
efforts to invest in and partner with other companies where there are
opportunities to build our presence to become the leading retailer on the
Web."
According to Will Lansing, Fingerhut president, "Roxy has successfully
positioned itself as a value-added player in the digital consumer products and
services arena, one of the largest consumer markets on the Internet. Roxy.com
has built a strong Internet business by providing its Web partners fully
integrated retailing capability. And now Roxy will leverage Fingerhut's
state-of-the-art infrastructure."
Fingerhut will provide "backroom" operations including order processing,
fulfillment services, merchandise integration, and database management as well
as assisting Roxy with promotional advertising and marketing support.
"We are excited about our partnership with Fingerhut," said Keith
Clougherty, Roxy Systems president and chief executive officer. "It will not
only provide us with financial support necessary to maintain our rapid growth,
but it will provide us with unmatched expertise and support in promotion,
sales and marketing that comes with one of the world's leading database
marketing powers. We also believe Roxy.com's close association with top Web
content and gateway sites, as well as our online marketing expertise, create
real synergy with Fingerhut's strong push into Internet commerce."
The investment represents the sixth major deal for Fingerhut in as many
months. In July, Fingerhut purchased an equity interest in PC Flowers and
Gifts, Inc., a leading Internet provider of flowers and gourmet food and gift
baskets. In August, November and December, the company purchased catalogers
Arizona Mail Order, Popular Club and Bedford Fair respectively. And in
December, Fingerhut acquired equity interests in Internet companies
Freeshop.com and TheZone Network.
Roxy Systems, Inc., founded in April 1996, is a privately held company
with 55 employees based in Hopkinton, Mass. It is the nation's number one
online retailer of DirecTV service, and recently was listed by Silicon Alley
magazine as among the country's 30 top e-commerce companies. Roxy specializes
in residual services, such as DirecTV home satellite TV service, Netcom
Internet service, and AT&T digital wireless phone service. Roxy.com also
offers a select line of complementary consumer equipment including satellite
TV systems, DVD players, digital wireless phones, surround-sound home theater
systems and many other audio/video components.
Fingerhut Companies, Inc. is a leading database marketing company selling
a broad range of products and services through catalogs, direct marketing, and
the Internet. The company also owns Popular Club, a membership-based cataloger
of general merchandise, Arizona Mail Order and Bedford Fair, catalog apparel
companies, and Figi's, a food and gift catalog company. Based in Minnetonka,
Minn., the company and its subsidiaries employ approximately 9,000 people.
Fingerhut can be found on the Internet at http://www.fingerhut.com,
http://www.andysgarage.com, http://www.thehut.com, http://www.figis.com,
http://www.pcflowers.com, http://www.mountainzone.com,
http://www.skiresorts.com, http://www.freeshop.com, http://www.roxy.com,
http://www.pcscentral.com, and http://www.satellite.com
SOURCE Fingerhut Corporation
 back to top
Related links:
http://www.fingerhut.com
CONTACT:
Lynda Nordeen of Fingerhut Companies, Inc.,
612-936-5015, lynda.nordeen@fingerhut.com, Barry Kluger of Kluger
Media Group, 973-316-0042, barrykluger@earthlink.net, for
Fingerhut, or Doug Curran of Roxy.com, 508-497-6320,
dcurran@roxy.com
|
