Netivation.Com Will Create Second Firm

Netivation.com is splitting into two companies.

The Post Falls firm has sold the assets of its political Internet division, Votenet, to a New York company in exchange for stock.

Netivation’s medical Internet division, which employs about 110 in Post Falls, will change its name to Medinex Systems.

The split will help attract analyst coverage, said Tony Paquin, who will be chairman of both companies.

“That’s been one of the problems for us,” he said. Netivation was only covered by one analyst at EBI Securities in Denver. Most analysts specialize in a particular industry, and Netivation combined two focuses in one company, Paquin said.

Netivation was founded in 1997 by Tony and Gary Paquin. The company went public in 1999, losing $8.6 million during its first year of operations.

Votenet, which employed 50 people in Washington, D.C., was sold to Politics.com for an 80 percent controlling interest in the company. The resulting company will be called Votenet Solutions Inc. It will continue to trade on the OTC Bulletin Board, Paquin said.