Marchex Announces Sale of Its Domain Assets
April 22 2015 - 08:30AM
Business Wire
Marchex, Inc. (NASDAQ: MCHX), a mobile advertising analytics
company, today announced the sale of the bulk of its domain
portfolio for aggregate proceeds of $34.8 million, as well as
additional earn-out considerations. The $34.8 million total
includes a $28.1 million transaction detailed below, as well as
$6.7 million in direct domain sales by Marchex since January
2015.
The company has entered into a definitive agreement to sell more
than 200,000 domains to GoDaddy Inc., the world’s largest
technology provider dedicated to small businesses. Under the
agreement, Marchex received cash consideration of $28.1 million
upon closing plus additional earn-out payments subject to certain
sales targets.
“Our complete focus is on establishing Marchex as the
world’s leading mobile advertising analytics company,” said Pete
Christothoulou, Marchex Chief Executive Officer. “A significant and
growing majority of the consumer engagement and sales driven by
mobile advertising happens offline, such as through phone calls.
Narrowing our focus on this opportunity, while growing our balance
sheet, strengthens our ability to continue delivering
technology solutions that bring accountability to mobile
advertising and transform business performance for our
clients.”
About Marchex:
Marchex is a mobile advertising analytics company that connects
online behavior to real-world, offline actions. By linking critical
touchpoints in the customer journey, Marchex’s products enable a
360-degree view of marketing effectiveness. Brands and agencies
utilize Marchex’s products to transform business performance.
Please visit www.marchex.com, blog.marchex.com or @marchex on
Twitter (Twitter.com/Marchex), where Marchex discloses material
information from time to time about the company, its financial
information, and its business.
Forward-Looking
Statements:
This press release contains forward-looking statements that
involve substantial risks and uncertainties. All statements, other
than statements of historical facts, included in this press release
regarding our strategy, future operations, future financial
position, future revenues, acquisitions, projected costs,
prospects, plans and objectives of management are forward-looking
statements. We may not actually achieve the plans, intentions or
expectations disclosed in our forward-looking statements and you
should not place undue reliance on our forward-looking statements.
Actual results or events could differ materially from the plans,
intentions and expectations disclosed in the forward-looking
statements we make. There are a number of important factors that
could cause Marchex’s actual results to differ materially from
those indicated by such forward-looking statements which are
described in the “Risk Factors” section of our most recent periodic
report and registration statement filed with the SEC. All of the
information provided in this release is as of April 22, 2015 and
Marchex undertakes no duty to update the information provided
herein.
Marchex Investor RelationsTrevor Caldwell, 206-331-3600Email:
ir(at)marchex.comorMEDIA INQUIRIESMarchex Corporate
CommunicationsMark S. Peterson, 206-390-0204Email:
mark(at)pointerpr.com
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