Friday, March 5, 2010
ReachLocal's Buy Of SMB:LIVE Worth $8.8M
Woodland Hills-based ReachLocal's acquisition of digital presence and reputation management firm SMB:LIVE was worth $8.8M, in a combination of cash and stock. The number had actually been disclosed through an update to the firm's S-1, although the firm did not disclose the numbers in its announcement of the deal. According to ReachLocal, it paid $2.8M in cash for SMB:LIVE, assumed $0.8M in liabities, and will pay the balance -- up to $5.7M -- on achievement of certain milestones tied to employee retention. The firm said that $4.7M of that earnout is is stock, and approximately $1.0M will be in cash.