ValueClick sells websites to About.com parent for $80M
Westlake Village-based online advertising firm ValueClick is selling its owned-and-operated websites to the parent company of Dictionary.com, Match.com, Ask.com and About.com. The aggregate purchase price was $80 million, according to a regulatory filing.
In November, ValueClick announced that it was searching for a buyer for its standalone Web properties, such as Investopedia.com and PriceRunner.com, as it refocuses on its core advertising technology business.
“We have made a lot of acquisitions over the years and have for the most part run those businesses on a standalone basis, for the most part because the buyers were making decisions on that basis,” Chief Financial Officer John Pitstick said in an interview last month. “As more dollars get allocated to digital, and as advertisers get more sophisticated, they’re looking to have a more holistic view of their marketing spend.”
The sale to New York-based IAC is expected to close in January 2014, ValueClick said in a Dec. 9 statement. IAC owns more than 150 Internet brands, including some of the Web’s largest, such as Match.com and Vimeo. ValueClick’s sites will join IAC’s Search & Applications business segment, alongside Ask.com, About.com and Dictionary.com. Steve Neufer will continue to lead the businesses from their current headquarters in Monrovia.
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