ACI Media Group, the nation’s leading multi-channel print distribution group, has announced that they have recently purchased a minority stake in MyDistrict Net LLC, a leader in newspaper distribution software.
The relationship between ACI and MDNet will allow both companies to expand their capabilities and develop new technology products focused on the Logistics and Distribution industries.
As a condition of the deal, both parties mutually agreed that an ethical wall would be built to safeguard the confidential data of MDNet’s customers to ensure that neither ACI nor any other partner of MD.net would ever have access any confidential data stored by MDNet.
Robert Hudson, CEO of MDNet, said, “This relationship will not only help MDNet drive more features and value to its current news-print distribution customers, it will also allow MDNet to transform itself into a mobile application provider for multiple-vertical segments throughout the Home Delivery supply chain. This is our vision and now we have the right partnership structure to move towards our long term goals as a company … for the benefit of all of our customers.”
Keith Somers, CEO of ACI Media Group, said, “We are very excited about our relationship with MDNet. We look forward to working very closely with them on the development of software applications that will take the home delivery industry to the next level for all of MDNet’s current and future customers.”
Representing MyDistrict.Net were Mario Perez Dolan and Michael Ringelheim from Wick Philips Attorneys & Counselors.
Representing ACI Media Group were Andrew Apfelberg, Chad Coombs, and Richard Sweet from Greenberg Glusker LLP.