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DubLi Corp.: Media company to move HQ to Boca Raton

January 5, 2010

We’re getting closer …

Tuesday, January 5, 2010, 10:00am EST

Media company to move HQ to Boca Raton

South Florida Business Journal

MediaNet Group Technologies said it will relocate its headquarters to Boca Raton on Feb. 1.

The Berlin-based media company said it is relocating senior management and other key employees from Germany, while creating several new jobs.

It expects to employ 25 people at the new office, including the 10 employees from its BSP Rewards division currently located in Margate.

The relocation follows the completion of a merger between MediaNet (OTCBB: MEDG) and the DubLi Cos., which runs the online retail auction portal.

In a news release, MediaNet said it leased about 11,000 square feet in Boca Raton, which will be used as a global training center. About 30 employees will remain in Berlin for European operations.

MediaNet President and CEO Michael Hansen said the East Coast of the U.S. made the most sense as a location for the merged companies.

He said the Florida location provides “easy access” for business associates in the U.S. and Europe.

“We are excited about growing our operations in the United States as inroads into the market have proven very successful,” Hansen said in the news release.

BSP Rewards is described as an affordable “customer relationship marketing program” and “communications solution” using an Internet rewards mall platform and applications, including the BSP Rewards Mall.

MediaNet shares were up 3 cents to 61 cents in morning trading. The 52-week high was $1.01 on Dec. 19. The 52-week low was 3 cents on June 5.

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