Business.com is sold again for $350 million in cash
So Business.com (business search engine and directory) is sold again. This was announced just yesterday (July 26, 2007) – This time, the buyer - R.H. Donnelley Corporation, they are one of leaders among US Yellow Pages and online local commercial search companies.
R.H. Donnelley Corporation buys Business.com not only as domain name, but as a whole company.
Currently Business.com - employs approximately 100 highly-skilled technologists, strategists and businesspeople. The b2b advertisement network encounters more that 6,000 companies. According to the press release, Business.com is profitable and expected revenues for 2007 should be not less than fifty million dollars ($50).
"With this transaction R.H. Donnelley takes another significant step forward in the online local commercial search marketplace," said David C. Swanson, chairman and CEO of R.H. Donnelley Corporation. "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."
Business.com was founded and still managed and led by CEO Jake Winebaum. After concluding the business deal, Winebaum will become the President of R.H. Donnelley's interactive unit (RHDi), which will consist of: DexKnows.com(TM), LocalLaunch! search engine marketing company, Business.com, Work.com and the Business.com Advertising Network.
According to the press release, R.H. Donnelley will pay $345 million in cash for this transaction. The deal is projected to close in the second half of 2007.
Comments
No comments yet. Be first!