YP Corp. a leading provider of nationwide Internet Yellow Pages and related services with more than 16 million business listings, announced that it has acquired LiveDeal, Inc. which operates one of the nation’s leading online local classifieds and Yellow Pages marketplaces. Under the terms of the acquisition, LiveDeal shareholders received 15,968,514 shares of YP common stock. LiveDeal will remain an independent entity and a wholly owned subsidiary of YP and the two companies will leverage one another’s content, sales teams and technology to strengthen their individual product offerings.
YP plans to use LiveDeal’s innovative technology platform to converge its four principal marketing channels – directories, mobile services, classifieds and advertising/distribution networks into a first-of-its–kind, hyper-local marketing solution for businesses and consumers.
Rajesh Navar, the founder & CEO of LiveDeal, will serve as president and chief architect of YP Corp. and will also join the YP board, effective immediately.
Originally posted on June 7, 2007 @ 6:32 pm
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