FindWhat Renegotiating Espotting Merger
Pay per click company FindWhat is renegotiating its agreement to buy Espotting after it found problems with the company's finances. FindWhat said it is looking to lower the purchase price and change other parts of the merger agreement in light of its findings, or it might walk away from the deal. According to FindWhat, its post-merger examination of Espotting's books turned up some surprises regarding Espotting's purported profitability and projected financials. FindWhat said it is working with Espotting to get its results in conformity with U.S. accounting standards. [Full story: FindWhat.com Finds Skeletons in Espotting's Closet - Internet News]
Posted under Pay Per Click Advertising on September 19, 2003.
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