Search engine Local.com has just declared its acquisition of all outstanding shares in online business directory PremierGuide.This purchase means that Local.com will become one of America's largest syndicated search engines and will incorporate more than 400 regional media websites.
Local.com's strategy will now integrate its own LocalConnect technology with that of PremierGuide's, so that regional media will be offered further options in terms of private-label, syndicated solutions.
Heath Clarke, chairman and chief executive officer of Local.com, explained: "PremierGuide has built up a large publisher network with a product that serves a complementary segment of the regional media market to our LocalConnect platform.
"Excluding amortisation expenses, this acquisition is expected to be immediately accretive and effectively double our organic traffic - an important part of our growth and margin strategy."
The deal allegedly cost $2 million (1 million pounds) and Malcolm Lewis, chief executive officer at PremierGuide, will become the vice-president of private label at Local.com under the new terms.
Mr Lewis stated: "We are very pleased to be joining forces with Local.com and look forward to working with this exceptional team. Local.com's product development expertise, comprehensive local content and better monetization should provide immediate benefit to our customers."
