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Local.com (LOCM) announced that they have been bought out by Microsoft (for $12.50 per share)
New Source: WiredPR News.com
By Charlie Jane Anders - SS PR AGENCY www.sspr.com
4:02pm on Thursday Sept 31st 2009, 472,004 views.
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WiredPRNews.com -- It’s only been a few hours since Microsoft accounced it was buying the recently ranked #10 search engine Local.com, and and already the first example of corporate synergy has appeared.
The Microsoft Deal buyout of Local.com Corporation (LOCM) at over a 100% premium is just shy of a $200 Million dollar deal, a real success for shareholders of LOCM which has increased from teh $3 range to over $5 by close of trading today.
Aftermarket trading is showing heavy activity and stock is expected to open up around $12.00 per share.
Microsoft Spokesperson Jane Gallaway Senior VP of acquisitions, stated in the QnA that “This allows Microsoft to fully own the very lucrative and ingenious software patents that LOCAL owns and uses currently. Their growth has been tremendous. Our goal is to apply and integrate this technology into our new search portal BING.com which will allow us for an aggressive takeover of market share in the search engine field.
Local.com (NASDAQ: LOCM) is a leading local search engine and the largest local search network in the United States. The company provides over 19 million consumers each month with the most relevant search results for local businesses, products and services on Local.com and over 700 regional media sites.
Heath Clarke
Chairman, Chief Executive Officer stated himself “We’re very pleased about this deal are are proud to offer our hard work and dedication to a new search engine bing.com which we hope will revolutionalize the way traffic flows on the internet”
Everyone is happy about this deal. J. Gunn, Founder of Gunnallen Financial out of Tampa Florida was quoted saying (they helped to take the company public) “This is the outcome we always expected, however not as soon as this. Everyone is pleasantly pleased, I know my clients are happy”
For those of you who own it, enjoy the success, for those of you who do not, mergers right now seem to be hot, and keeps your scanners peeled for opportunities.
The ticker symbol for Local is (LOCM), and after market trades have it trading higher very quickly . News Source: http://www.WiredPRNews.com - Press Release Distribution
By Charlie Jane Anders - SS PR AGENCY www.sspr.com
4:02pm on Thursday Sept 31st 2009, 472,004 views.
***************************************
WiredPRNews.com -- It’s only been a few hours since Microsoft accounced it was buying the recently ranked #10 search engine Local.com, and and already the first example of corporate synergy has appeared.
The Microsoft Deal buyout of Local.com Corporation (LOCM) at over a 100% premium is just shy of a $200 Million dollar deal, a real success for shareholders of LOCM which has increased from teh $3 range to over $5 by close of trading today.
Aftermarket trading is showing heavy activity and stock is expected to open up around $12.00 per share.
Microsoft Spokesperson Jane Gallaway Senior VP of acquisitions, stated in the QnA that “This allows Microsoft to fully own the very lucrative and ingenious software patents that LOCAL owns and uses currently. Their growth has been tremendous. Our goal is to apply and integrate this technology into our new search portal BING.com which will allow us for an aggressive takeover of market share in the search engine field.
Local.com (NASDAQ: LOCM) is a leading local search engine and the largest local search network in the United States. The company provides over 19 million consumers each month with the most relevant search results for local businesses, products and services on Local.com and over 700 regional media sites.
Heath Clarke
Chairman, Chief Executive Officer stated himself “We’re very pleased about this deal are are proud to offer our hard work and dedication to a new search engine bing.com which we hope will revolutionalize the way traffic flows on the internet”
Everyone is happy about this deal. J. Gunn, Founder of Gunnallen Financial out of Tampa Florida was quoted saying (they helped to take the company public) “This is the outcome we always expected, however not as soon as this. Everyone is pleasantly pleased, I know my clients are happy”
For those of you who own it, enjoy the success, for those of you who do not, mergers right now seem to be hot, and keeps your scanners peeled for opportunities.
The ticker symbol for Local is (LOCM), and after market trades have it trading higher very quickly . News Source: http://www.WiredPRNews.com - Press Release Distribution
