Shareholders of European outfit Espotting Media ad US-based FindWhat.com have finally agreed to a merger that will see the creation of an enlarged paid-for listings operation.

The merger of the pay-per-click advertisers is set to be completed 1 July. Those behind the deal reckon it will "create the largest independent player in [the] sector".

Under the terms of the agreement Espotting stockholders will receive seven million shares of FindWhat.com common stock and approximately $20m (£11m) in cash. ®

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