Paid search service provider Interchange announced an agreement yesterday to purchase Inspire Infrastructure 2i AB for $15 million cash and another $7.5 million in stock.
Inspire, a Sweden-based Internet and wireless local search technology provider, will be renamed Interchange Europe, Interchange said. The company expects to close the transaction in the first quarter of 2005.
Interchange, Laguna Hills, CA, will integrate Inspire's technology into its own local search and advertising solutions. The move is part of Interchange's effort to offer a search and advertising platform, including Internet and wireless local search technologies, in the North American and European markets.
Scott Hovanyetz covers telemarketing, production and printing and direct response TV marketing for DM News and DMNews.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters