FindWhat Acquires Espotting

Finally "FindWhat said shareholders of privately-held Espotting would get 7 million shares of FindWhat stock and about $20 million in cash. FindWhat said the total deal values Espotting at about $170 million based on last Friday's closing stock prices"
(from Rueters) Back in June FindWhat & Espotting crafted a deal of similar value. The problem with the old deal is that some of Espotting's books looked weak and FindWhat has seen its stock rise considerably. The original deal was 8.1 million shares of FindWhat and $27 million in cash.

On a side note, it looks as if someone will be buying $200 in beer at the next Pub Conference.

"FindWhat also reported fourth-quarter net income of $3.5 million, or 15 cents per share, compared with a year-earlier profit of $2.7 million, or 14 cents per share.

For 2004, the company offered guidance for revenue of $95 million, with net income of 60 cents per share. Analysts surveyed by Reuters Research, a unit of Reuters Group, had expected revenue of $96.6 million and earnings per share of 63 cents."
(source News.com)

Published: February 10, 2004

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