Yellow Pages Publisher Buys Business.com For $350 Million
RH Donnelley, which acquired SEM firm LocalLaunch in 2006 and owns the local search/online yellow pages site DexKnows, has announced the acquisition of Business.com and its related properties for $350 million.
According to PaidContent, there was an auction that included IAC, Dow Jones, News Corp. and the New York Times Company. According to comScore, Business.com’s network reach and unique visitors put it in the top 50 of US ad networks.
The acquisition will enable the yellow pages publisher diversify its online revenue base and gain technology that will help the overall business. Business.com CEO Jake Winebaum will become the new head of RH Donnelley’s Internet unit “RHDi,” to be based in Santa Monica, CA.
Here’s more detail from my blog.