We reported earlier last month that Business.com was up for sale, and it looks like someone’s finally bitten: the business search engine and directory was sold for $345 million to R.H. Donnelley, the yellow pages and local search firm.
From the press release:
“With this transaction RH. Donnelley takes another significant step forward in the online local commercial search marketplace,” said David C. Swanson, chairman and CEO of R.H. Donnelley Corporation. “Upon closing, we will immediately gain a profitable business-to-business vertical that is widely recognized as one of the leaders in the market. We will also gain technology and talent that will accelerate our capabilities with DexKnows.com and other aspects of our digital strategy.”
The deal states that R.H. Donnelley will pay the $345 million in cash and the rest in deferred purchase consideration. PaidContent reports that they beat out several notable competitors in a heated auction, including IAC, Dow Jones, the New York Times and News Corp.
Under the terms of the deal, Business.com’s CEO Jake Winebaum will become the president of R.H. Donnelley’s interactive operations and will oversee its online properties, including DexKnows.com, LocalLaunch, Business.com, Work.com and the Business.com Ad network.
R.H. Donnelley is a directory and online local comercial search company that publishes yellow and white pages for AT&T, Dex and Embarq, among others. They have been making gains into online advertising recently, having re-launched its online local search site, DexKnows.com, last month.