Asset Purchase of Three e-commerce Properties From Retailer Networks

by admin, June 27, 2010

NEW YORK, June 23, 2010 (GLOBE NEWSWIRE) — OLB Group, Inc. (OTCBB:OLBG – News), an e-commerce service provider offering software products and services designed to help businesses sell products over the internet, announced today the purchase of three e-commerce properties from Retailer Networks, Inc.: GHMconnect (http://www.ghmconnect.com), a B to B wholesaler with over 25,000 retailer members purchasing products from over 100 product manufacturers and distributors; the Gift and Home Channel (http://www.giftandhomechannel.com), a learning center and community for giftware retailers with over 450 instructional videos on how to be a successful retailer; and Thrive on Main, a curriculum-based learning property under development for the whole small retailer universe.

OLB’s Chairman & CEO, Ronny Yakov, said, “We are very excited about these acquisitions. These properties will be complementary to current customers of OLB/ShopFast Subscribers. The members of GHMconnect and Gift and Home Channel will benefit from the large selection of over 4,000,000 products and complementary services and benefits that OLB/ShopFast offers to their current members. Currently we are in the process of transitioning the properties and plan to have them fully integrated with ShopFast systems over the next several months.”

Craig Park, Chairman & CEO of Retailer Networks, commented, “We are excited about this opportunity to partner with OLB Group and the additional value it brings to our current members. These assets will significantly enhance the OLB/ShopFast offering to retailers at a time where efficiency and business tools are greatly needed.”