News Brief
Local.com Buys PremierGuide For $2 Million
Jul 20, 2007, 6:00 AM
In a $2 million deal, search engine company Local.com has acquired PremierGuide, a provider of regional business directories to more than 350 online newspapers, broadcasters, and city portals, including Washington Post Newsweek Interactive. Local.com said that PremierGuide's unaudited revenue was approximately $800,000 for the last 12 months, with net income of approximately $300,000.
Malcolm Lewis, CEO of the four-year-old PremierGuide, was named Local.com's vice president, private label. PremierGuide's technology and product will be integrated with Local.com's LocalConnect private label platform.
With the acquisition, Local.com said its network now consists of more than 400 regional media Web sites, and that its organic traffic had effectively doubled.
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