Feeds

FindWhat.com buys Espotting for $163m

Hands across the water

  • alert
  • submit to reddit

Security for virtualized datacentres

US pay-per-click outfit - FindWhat.com - has coughed up $163m (£97m) to buy UK-based performance-based marketing outfit Espotting Media.

The deal - made of 8.1 million in shares, $27m in cash and some other odds and sods - has been approved by both boards and is expected to be completed by the end of the year.

Both sides claim the deal is good news since it will give the newly merged operation access to both the US and European markets helping to create a "significant international group in the paid listings sector".

Once completed, the combined group will provide services to around 40,000 advertisers and is expected to generate combined revenues of more than $140 million in 2003.

Looking ahead, the number crunchers reckon the merged business could achieve a growth in revenue of between 30-40 per cent in 2004.

In a statement Craig Pisaris-Henderson, chairman and CEO of FindWhat.com, said: "We believe this announcement changes the landscape of the paid listings industry, creating a new international leader.

"The proposed merger intends to capitalise on both companies' experience in serving advertisers and distribution partners of all sizes, across the widest geographic footprint in our sector," he said.

Despite all the big plans, it's not known what the new name of the company might be.

Espotting was formed in February 2000 and has operations in a number of European countries including the UK, France, Germany, Spain and Italy. FindWhat.com was created in March 1998 and became a publicly-traded company in June 1999. ®

Security and trust: The backbone of doing business over the internet

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Why Oracle CEO Larry Ellison had to go ... Except he hasn't
Silicon Valley's veteran seadog in piratical Putin impression
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.