Norfolk, Va., February 16, 2007 – Dominion Enterprises today announced that it has acquired PowerSports Network (PSN), the country’s largest provider of Web site development services for power sports dealers. PSN also provides services to a growing number of dealers in the marine industry. Terms of the transaction were not disclosed.

 

PowerSports Network, headquartered in Sussex, Wis., was founded in 1998. PSN currently serves more than 2,100 customers in the United States, Canada and Puerto Rico, and has continually doubled its customer base every year since its founding.

 

“We are pleased to welcome the number one developer of Web sites for power sports and marine dealers to the Dominion family,” said Conrad M. Hall, Chairman and Chief Executive Officer. “By combining PSN with our own Vehicle Web Service businesses, Dominion has greatly enhanced its ability to offer end-to-end solutions for dealers who are looking to build their business on the Web.”

With expertise in online and print advertising, as well as Web services, Dominion serves as a single source for power sports and marine dealers. The company’s current portfolio includes some of the most visited cycle and marine Web sites, including Boats.com, Yachtworld.com, BoatTrader.com and CycleTraderOnline.com, and local and national print publications such as Cycle Trader, Walneck’s Classic Motorcycle, Boat Trader and Yacht Trader. In the fast-growing Web services area, the company offers Cycle Web Services and Marine Web Services, which provide dealers with the most advanced products and services including Web sites, lead management tools and comprehensive lead-generation products. 

 

Nick Avgoulas, Principal of PSN, said, “In combination with Dominion, we foresee PowerSports Network continuing along a dramatic growth curve. On ‘day one’ of this acquisition, we are part of a much larger company with an established portfolio of both print and Web-based resources for dealers. Our total offering will be integrated across a broad variety of portals serving the power sports and marine industries.”

 

The company’s three co-founders Nick Avgoulas, Steve Weiner and Kevin Brandenburg will all join Dominion Enterprises. 

 

“With the addition of PSN’s first-rate capabilities, we will be able to better serve our customers, going well beyond advertising into other, richer services such as e-commerce, drip marketing and lead management,” said Rick Murchake, Vice President, Dominion’s Vehicle Web Services division. “PSN’s capabilities and its senior leadership promise to make Dominion the unparalleled leader in integrated print and Web-based initiatives for power sports and marine dealers.”

 

PowerSports Network was founded in 1998 with the goal of helping power sports and marine dealers leverage their brick and mortar store on the Internet. Today, PSN is the largest provider of dealer Web sites for motorcycle, power sports and marine dealers, with over 2,100 dealers located in all 50 states and Canada. PSN focuses exclusively on the power sports and marine industries to provide a complete dealer Web site solution, lead management and other marketing tools to help dealers harness the power of the Internet on behalf of dealers. PowerSports Network is headquartered in Sussex, Wis. For more information, visit PowerSports Network at www.powersportsnetwork.org.