Google to buy marketing services company for $125 million

Wed Feb 6, 2013 11:41pm IST

The Google signage is seen at the company's headquarters in New York January 8, 2013. REUTERS/Andrew Kelly

The Google signage is seen at the company's headquarters in New York January 8, 2013.

Credit: Reuters/Andrew Kelly

Related Topics

Stocks

   

REUTERS - ICG Group Inc(ICGE.O), which buys and builds Internet software and services firms, said Google Inc(GOOG.O) would acquire its partly owned marketing services unit, Channel Intelligence Inc, for $125 million in cash.

Channel Intelligence helps retailers, manufacturers and other advertisers make their products and services easier for consumers to find and buy online and in local stores.

ICG said it will get $60.5 million for its stake in Channel Intelligence.

The transaction is expected to be completed in the first quarter of 2013.

ICG shares, which closed at $12.04 on Tuesday on the Nasdaq, were up 3 percent at $12.41 in premarket trading on Wednesday morning.

(Reporting by Sayantani Ghosh in Bangalore; Editing by Sreejiraj Eluvangal)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

TECH SHOWCASE

Apple Results

Apple Results

Apple margin concerns fade, focus shifts to iPhone launch  Full Article 

Expansion Plans

Expansion Plans

EBay plans to expand in Russia despite sanctions.  Full Article 

Outlook Weighs

Outlook Weighs

Qualcomm posts higher quarterly results  Full Article 

'Selfie' Boom

'Selfie' Boom

Sony invests in image sensor production amid 'selfie' boom.  Full Article 

Cyberfraud Case

Cyberfraud Case

Seven arrests made in $1.6 million StubHub cyberfraud case  Full Article 

Q2 Below Forecast

Q2 Below Forecast

AT&T revenue misses estimates as promotion weighs on revenue  Full Article 

WhatApp Leak

WhatApp Leak

Israel detains soldiers after WhatsApp leaks about Gaza casualties   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage