Back in June, we reported that Business.com would be going for sale for a price between $400 – $500 million.
CNN Money informs that R.H. Donnelley Corporation, publisher of Yellow Pages has signed a definitive agreement to acquire Business.com, a leading business search engine and directory and pay-per-click advertising network.
David C. Swanson, chairman and CEO of R.H. Donnelley Corporation said, "With this transaction R.H. Donnelley takes another significant step forward in the online local commercial search marketplace. Upon closing, we will immediately gain a profitable business-to-business vertical that is widely recognized as one of the leaders in the market. We also gain technology and talent that will accelerate our capabilities with DexKnows.com and other aspects of our digital strategy."
Jake Winebaum Founder and CEO of Business.com said, "We are very excited about joining the R.H. Donnelley organization. Business.com and the platform we built over the past seven years are a perfect complement to R.H. Donnelley's interactive strategy. The solutions that we have created for business decision makers and advertisers are directly applicable to what is required to service the local search and directory needs of consumers and local merchants. It is exciting to become part of an organization with such substantial reach, capabilities and resources. Business.com is already a profitable and growing enterprise, but together we will accelerate this growth and ensure our combined leadership position in the business and local markets."
The domain name was acquired for $345 million in cash. The payment deal will end in the 3Q 2007 keeping in compliance with the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
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Navneet Kaushal, CEO PageTraffic is a trusted authority in the search engine marketing industry. He is a featured author at Web Pro News, Search Newz, Website Notes, DevWebPro, SEO Article and Web Help Now among many others.
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