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 IncICGE.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

Reuters Showcase

Huge Demand

Huge Demand

Apple receives record pre-orders for new iPhones.  Full Article 

Deal Talk

Deal Talk

Microsoft to acquire Minecraft maker Mojang for $2.5 billion.  Full Article 

New Practices

New Practices

Startups go Dutch for new era in manufacturing.  Full Article 

Alibaba IPO

Alibaba IPO

Alibaba to boost IPO size on "overwhelming" demand - sources.  Full Article 

Apple's HealthKit

Apple's HealthKit

Two Apple medical trials shed light on how HealthKit will work.  Full Article 

App Watch

App Watch

Apps help brides track down the perfect bridal gown.  Full Article 

Electric Cars

Electric Cars

Exclusive: Nissan faces battery plant cuts as electric car hopes fade.  Full Article 

Reuters Insight

Reuters Insight

Simon Xie: Jack Ma's unassuming lieutenant at Alibaba.  Full Article 

Reuters India Mobile

Reuters India Mobile

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