Performance-based company eLocal announced two acquisitions on Friday. Both companies — Felix and CityGrid — were acquired from InterActiveCorp (IAC), which also owns ANGI Homeservices and Ask Media Group.
Felix supports a pay-per-action model focused on phone calls. CityGrid provides a local content and advertising network to help brands manage their presence and promote business across hundreds of local review sites, search engines, and directories.
“We approached IAC about buying the companies because we felt there are really good synergies among the three companies,” said Bruce Aronow, CEO of eLocal. “Prior to the deal we worked with both companies.”
Aronow expects the additional revenue from the two companies to “substantially increase” because it more than doubles the size of the company. The total employee count will rise to more than 100 employees.
The acquisitions make eLocal one of the largest players in the performance-based space, specifically the pay-per-call and pay-per-lead industry, according to Aronow, which defined performance as the ability to deliver results. Performance means “making your phone ring,” he said.
eLocal will absorb the brands Felix and CityGrid, but will differentiate the brand related to the CityGrid Network, such as Citysearch,com and Insider Pages, along with the company’s network of publishing partners.
Jill Labert, former Felix general manager, assumes the role of chief revenue officer at eLocal.
Bryan Day, former CityGrid general manager, assumes the role of general manager and chief integration officer at eLocal.
In the past year, eLocal also acquired Ring Router. Fueled by an investment from growth capital firm LLR Partners in late 2017, eLocal is focused on continuing to build on its expertise through targeted acquisitions.
Integration of its latest acquisitions remains on Aronow’s short list of goals for 2019, along with becoming a major player in every consumer vertical. Today the company supports home services, legal, insurance, medical, and financial.