Local.com is paying $5 million in cash and stock, with an earnout of up to $5.9 million if certain performance criteria are met in the two-year period following the closing.
"This transaction represents a significant expansion of Local.com’s product suite and technology platform, allowing us to manage the scaled acquisition, creation and deployment of geo-category targeted small business domains," said Heath Clarke, Local.com chairman and CEO. "Furthermore, Octane Experts’ content marketplace allows for the scaled procurement of proprietary, curated content, thereby enhancing the SEO value of local domains under our management."
Local.com says with Octane360, it can offer the following services:
– Large scale targeting and registration of geo-category based local website domains
– Small business and geo-category website creation, hosting and management
– An ad exchange to manage the selection and deployment of ad inventory across all Local.com Owned & Operated and Network sites, as well as third-party and directly owned domain portfolio properties
– A content marketplace to allow for the management of geo-category content written for advertising customers or Local.com’s directly owned portfolio properties
Octane360 will become a wholly-owned division of Local.com.