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:

Hack Attack

REUTERS SHOWCASE

Nifty Above 8,600

Nifty Above 8,600

Nifty hits record high above 8,600; state-run lenders gain  Full Article 

Indian in Iraq

Indian in Iraq

India says no contact with 39 men held by Islamic State in Iraq.  Full Article 

Sahara Issue

Sahara Issue

Sahara looks to raise $650 million loan to fund bail.  Full Article 

Bhopal Tragedy

Bhopal Tragedy

Bhopal's toxic legacy lives on, 30 years after industrial disaster.  Full Article 

Essar Group

Essar Group

Exclusive - Essar's planned oil-for-steel deal tests Iran sanctions  Full Article 

Islamic Fund

Islamic Fund

India gets new Islamic equity fund but debt market still off-limits  Full Article 

Fiscal Deficit

Fiscal Deficit

April-October fiscal deficit nears 90 pct of full-year target  Full Article 

Oil Prices

Oil Prices

Oil hits new four-year low post OPEC as glut looms  Full Article 

Gold Imports

Gold Imports

India eases gold import rule in surprise move.  Full Article 

Reuters India Mobile

Reuters India Mobile

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