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Idearc Buys Switchboard.com For $225 Million

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Idearc Inc., publisher of Verizon Yellow Pages, said today that it is purchasing Switchboard.com, a provider of local online advertising and Internet-based yellow pages from InfoSpace Inc. for $225 million.

Andrew Shane of Idearc told WebProNews that Idearc would be retaining the Switchboard.com domain name. The purchase of Switchboard.com and other InfoSpace directory assets will increase the scale of Idearc’s online directory platform, Superpages.com and benefit Idearc advertisers who will be seen by more consumers.

"This transaction is consistent with our strategy of driving revenue generation across multiple platforms," said Kathy Harless, President and CEO.

"With the addition of Switchboard.com and its associated networks, we are increasing the scale of our fast-growing local search platform, enabling our advertisers’ content to reach even more consumers and boosting our high-quality organic Internet traffic base."

InfoSpace, whose board approved the deal, operates metasearch site dogpile.com along with other search sites. The company said it plans to give proceeds of the sale to stockholders through cash distribution.

The deal is expected to be completed in the next 30 to 60 days.

"This acquisition is an excellent fit with our existing operations and creates a significant opportunity for us to monetize our local search inventory," said Harless.

"We are excited about the additional value and quality traffic this deal brings to our portfolio and the related value proposition to our advertisers."

 

Idearc Buys Switchboard.com For $225 Million
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  • Albert

    Looks like Idearc is going under with the stock at .64 how much longer can they operate, since directories are declining. I have a few friends who work there and wish the Idearc and them the best of luck, they can’t compete with at&t and yellowpages.com.