- M&A Deals
Ybrant buys Lycos for US$36mn
Together, these sites and service help bring people together to interact, to find new friends, and to express themselves in positive, powerful ways
Lycos Inc., the leading brand of search based internet properties and services. Ybrant Digital, the end-to-end provider of digital marketing solutions,announced the signing of the stock purchase agreement to acquire Lycos Inc., the leading brand of search based internet properties and services, from Daum Communications of Korea.
Lycos consistently averages 12 - 15 million monthly unique visitors in the U.S., and is a top 25 Internet destination worldwide, reaching nearly 60 million unique visitors globally. The Lycos network of sites and services includes Lycos.com, Tripod, Angelfire, Gamesville, and HotBot. Together, these sites and service help bring people together to interact, to find new friends, and to express themselves in positive, powerful ways.
“Brand Lycos needs no introduction, we are excited to bring in the Lycos properties into our fold.” said Suresh Reddy, Chairman and CEO, Ybrant Digital. “The quality of content and tools offered by Lycos has always attracted the best of the consumers across the world. Our goal is to combine the benefits of Ybrant’s global network with what Lycos has to offer in creating a compelling global destination for our advertising clients worldwide. Coupled with our offerings for advertisers, we do present new products to our local users worldwide.”
"Ybrant is the absolute perfect partner for us," said Jungwook Lim, CEO of Lycos. "Combining Ybrant's cutting edge digital solutions for both media buyers and sellers with Lyco's innovative resources and media will bring tremendous value to both our consumers and clients."
Daum reorganized the business of Lycos in 2009 and has turned Lycos profitable. As a result of the sale of Lycos, Daum will be able to devote its energy and corporate resources in order to find new potential growth business and future-oriented pipeline such as mobile, LBS, SNS and Search. “As a result of the sale of Lycos, Daum will be able to devote its energy and corporate resources to core domestic businesses including search, mobile services and map.” said William Chao, CEO of Daum Communications Corp.
Get Free Daily Trading Ideas on your phone...Click Here!