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PrimeHoldings.com to acquire wireless developer TimeMarker

Salt Lake-based PrimeHoldings.com Inc. said Wednesday it will acquire TimeMarker, a developer of wireless Internet exchange technology.

Terms were not announced.

PrimeHoldings.com is a holding company for high-growth electronic commerce and wireless data transmission businesses.

TimeMarker's technology enables location-based pricing of time-perishable goods and services. Its revenue model is based primarily on transaction fees earned from each successful bid/ask match generated through the use of its exchange technology.

"We get paid when our customers sell services or inventory that would have otherwise expired worthless," said David Hall, one of the company's founders. "By taking a small percentage of only the measurable value we create for customers, we expect to build and defend a more profitable position in this emerging market than would be possible with traditional advertising- or subscriber-based Internet business models."