Electron Interactive Buys Storage.com and 1-866-STORAGE Domains

Storage.com logo

Electron Interactive have breathlessly announced the acquisition of the domain name Storage.com in the first of a series of major domains acquisitions the Internet firm is planning to make. However, the exact terms of the transaction are not being disclosed but they are claiming it be one of the largest domain name transactions to take place in 2008.

Well, do we take their word for it? It certainly is a good generic domain name that would be worth a pretty penny. They also announced the acquisition of the phone number 1-866-STORAGE to complement the core Storage.com brand.

The announcement from Electron on the purchase says:
“We are building out our local advertising network one major vertical at a time,” said Electron’s Chief Strategy Officer, Joe Davison. “We believe that category-defining, generic domain names like Storage.com are grossly undervalued compared to their power as consumer brands.”

In this case, the brand defines more than one multi-billion dollar industry: both self storage, and data storage. “Subsequent to this acquisition, we will be making a major announcement in the coming weeks with regards to the future of the Storage.com domain name,” Davison said. “Ultimately, we’ll do whatever creates the most long-term value for Electron.”

Electron is considering several strategies for maximizing the impact these assets will have on earnings, which experienced rapid growth leading up to the acquisition. One strategy includes integrating Storage.com into their Electron Local™ platform – tying it into a global salesforce.

If that happens, storage facilities worldwide will be able to purchase display advertising and other value-added services directly with Storage.com. “We believe that Storage.com is the perfect domain name with which to demonstrate the Electron Local™ platform,” Davison continued. “We’ll literally revolutionize advertising in the storage industry overnight. Whether you need storage in Phoenix, New York, or Hong Kong, you should be able to find it on Storage.com.”

Despite these plans, Davison acknowledges that Electron is always open to strategic investment. “Unfortunately for buyers, we are very bullish on the value of domain names and Internet intellectual property. We see them as strategic assets in the competitive Internet advertising landscape.”

About Electron Interactive, Inc. – Electron is an Internet advertising exchange whose proprietary local ad sales platform and methodology, Electron Local™, is the driving force behind the acquisition of some of the Internet’s top brands, including Storage.com. For more information, visit http://www.electron.com or http://www.storage.com.

Some more information is available from blog.electron.com/electron-acquires-storagecom-and-1-866-storage.