Tuesday, January 23, 2007
Local.com Acquires Online Yellow Pages Provider
Irvine-based Local.com said today that it is in a letter of intent to acquire soUno Directional Media Solutions, a Tulsa, Oklahoma-based provider of online yellow pages advertising to small businesses. The deal is worth $9M in cash and stock, plus $4.5M in additional earnout. Local.com said that it would pay $2.25M in cash, plus $6.75M in Local.com common stock for the firm. soUno operates soUno.com, which provides local yellow pages advertising for 13,000 local advertisers, and employs 20 in Tulsa. Local.com said that the soUno's site attracts approximately 150,000 unique monthly visitors.