Austin Ventures today announced that it has entered into a partnership with Sherman Atkinson to form ATCOR Holdings, Inc. The new company will focus on acquiring and operating businesses in high-growth sectors of online advertising, marketing and digital media. AV has committed $50 Million of equity capital to support management’s strategy to build a leading new media franchise through both organic growth and acquisition. Mr. Atkinson will serve as Chief Executive Officer of ATCOR.

“Sherman has played a leading role in two of the most exciting consumer internet success stories. He has a keen understanding of how to build valuable, branded consumer franchises that appeal to their users and online advertisers alike,” said David Lack, AV Partner. “We are excited to be working with Sherman to identify the companies that will play a role in his next digital media enterprise.”

Prior to forming ATCOR, Mr. Atkinson served as the COO of Intermix Media, Inc. (AMEX: MIX), a publicly traded, new media company that owned MySpace.com. During his tenure as COO, its public market capitalization grew from $126 million to over $650 million, when it was acquired by News Corporation (NYSE: NWS) in October 2005. Before joining Intermix Media, Mr. Atkinson served as COO of Buy.com, The Internet Superstore™, and President of its technology spinout, BuyServices, Inc., a wholly owned subsidiary of Buy.com. Previously, Mr. Atkinson spent five years with Booz Allen & Hamilton. Mr. Atkinson has served as an Officer in the United States Marine Corps with tours at 1st Marine Regiment, 1st Marine Division and Marine Aircraft Group 39. Mr. Atkinson is a graduate of Purdue University and the United States Navy’s Nuclear Power Program.

“Austin Ventures has committed significant capital and team resources to this venture, and we’re confident that our combined experience and market knowledge provide the right ingredients to build a successful new media franchise,” said Mr. Atkinson. “We are interested in working with enduring businesses in the New Media sector with high growth potential. When the opportunity presents itself, I want to concentrate ATCOR’s investments in great companies run by strong, trustworthy management. We are already reviewing interesting acquisition opportunities as well as developing an organic growth plan that exploits the deportalization of the web and encompasses content aggregation, analytics and distribution. I look forward to meeting the management teams and entrepreneurs who share our vision.”

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