Local.com to Buy Octane360
Local.com Corp. (NASDAQ:LOCM) said Thursday that it has agreed to buy the assets of OCTANE360, a provider of domain-based local advertising services to small businesses. 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. At the same time, Local.com said it had closed a $30 million revolving credit facility with Silicon Valley Bank. Local.com, of Irvine, Calif., operates a local search site and network.
1 July 2010•3 mins read
