After Acquiring NAVTEQ Ad Group, Matchbin Becomes Radiate Media; Adds $22 Million In Financing

Matchbin, a company that creates CMS solutions and hosts websites for community newspapers, radio stations, and TV stations, announced today that it has acquired NAVTEQ Media Solution?s Radio and Television Group. The acquisition closes a $12 million credit facility with Silicon Valley Bank, and resulted in the creation of Radiate Media, which will offer localized content, digital CMSes and an advertising platform to local and national advertisers -- among other things.

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