Espotting Announces Plans to Merge With FindWhat.com
Espotting Media Inc. announced today an agreement to merge with FindWhat.com. At FindWhat.com's closing share price on June 17, 2003, the transaction values Espotting at $163 million (£97 million / Euro 138 million). The merger is expected to close in the fourth quarter of 2003, subject to customary closing conditions. Espotting was formed in February 2000, and launched its service in the UK in September of that year. Over the last 18 months, Espotting has launched in an additional nine markets across Europe and currently covers the UK, France, Germany, Spain, Italy, Sweden, Denmark, Norway, Ireland, and Switzerland. Espotting delivers 100% accountable and cost-effective advertising to over 16,000 clients. Both FindWhat.com and Espotting distribute their advertisements through their respective networks. Combined, they power 2.25 billion queries per month.
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