News

Growth planned for newly acquired Internet kiosk firm

March 10, 2003

LOS ANGELES - With an eye toward exposing a vast market for public Internet kiosks, Innovation Holdings (OTCBB: INOVV) will acquire Bikini Vending of San Marcos, Calif.

Bikini Vending, according to a news release, will expand its deployment of kiosks from 500 machines to 20,000 by first quarter 2004. The 20-year-old vending company is being acquired in a stock transaction expected to close in two months.

Innovation Holdings chief executive Robert Blagman said in the release that the acquisition signals a shift in the firm's core business focus from media and pure advertising to convergent marketing.