InfoSpace Eyes Collaboration with eComLive Buy
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Infospace.com Inc. Monday made an acquisition designed to offer its customers a variety of online collaborative tools.
Infospace (INSP) Monday purchased eCom Live, a provider of Web-based collaboration and interaction software designed for electronic commerce and other vertical applications. eCom Live's software allows users to share data, conduct audio and video conferencing and jointly work on applications and documents using a standard Web browser.
InfoSpace will exchange 355,618 shares of its common stock for all outstanding eCom Live shares. Based on Friday's closing price, the deal is valued at just over $29.5 million. The deal is expected to close in December and is contingent on shareholder and regulatory approval.
InfoSpace said the buy was in line with its goal to provide consumers and local merchants with a comprehensive suite of e-commerce solutions.