NEW YORK — USA Networks will acquire the assets of Ingenious Designs Inc., a Gotham-based maker and designer of direct-response television products.
Move reps an expansion of product resources and development for USA — especially its Home Shopping Network. IDI founder Joy Mangano will report to HSN’s prexy and CEO Mark Bozak.
“Having her here is obviously a huge advantage for us and for the other USA companies,” Bozak said of direct response guru Mangano, who’ll stay on as IDI prexy and chairman.
Known for inventing such products as the Miracle Mop, IDI also has recently forged into the New Age music area with exclusive direct-response distribution of guitarist Esteban.
Financial details of the transaction were not disclosed, though IDI reports $190 million in worldwide sales since inception in 1991.