Marchex Acquires AreaConnect Assets
Online traffic provider Marchex has acquired some assets of Edmonds, WA-based AreaConnect LLC, which provides local online traffic to Yellow and White Page Publishers.
The acquisition of AreaConnect's assets, for $16 million in cash and Marchex common stock, as well as $1.7 million in additional restricted common stock, will help Marchex expand its traffic base and relationships with local merchant aggregators.
Marchex's local traffic base includes monthly users who access www.yellow.com, www.whitepages.net and several other directories and direct navigation Web sites, according to the company.
The acquisition "immediately adds to Marchex's base of proprietary, locally targeted online advertising inventory," said Peter Christothoulou, chief strategy officer, Marchex.
Marchex, Seattle, also manages search marketing programs for several online merchants and owns contextual advertising solutions provider IndustryBrains.