Feeds

FindWhat.Com finds $8m for Miva

Online store play

  • alert
  • submit to reddit

The Essential Guide to IT Transformation

US pay-per-click firm FindWhat.com plans to splash out $8m (£5m) to buy SME ecommerce software and services outfit Miva Corporation.

FindWhat will pay $5.5m as well as taking on approximately $2.5m in notes and "other liabilities".

According to FindWhat.com, the main reason for swallowing up Miva is to expand its service offerings for small-to-medium sized enterprises. The company said Miva Merchant software, which allows customers to create online storefronts complete with virtual shopping trolleys, will sit happily behind its own paid for search technology.

Craig Pisaris-Henderson, chairman and chief executive officer of FindWhat.com, said: "Miva Merchant can be a valuable addition to our service offering - we help SMEs promote their online business, and, under this proposed transaction, we also will help them to create and manage their online business."

The acquisition is expected to close by the end of 2003, subject to customary closing conditions. At current market prices Miva shareholders would receive a total of $2.7 million in cash and $2.7 million in FindWhat.com common stock.

FindWhat announced the £100m purchase of Espotting Media just three months ago. The deal is expected to close in the fourth quarter. ®

Gartner critical capabilities for enterprise endpoint backup

More from The Register

next story
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
prev story

Whitepapers

7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
A new approach to endpoint data protection
What is the best way to ensure comprehensive visibility, management, and control of information on both company-owned and employee-owned devices?