NEW YORK, June 18 (Reuters) – FindWhat.com, an Internet search engine operator, announced on Wednesday its acquisition of the privately-owned Espotting Media Inc. for $163 million. This move aims to form a new Internet marketing company, while also prompting the company to raise its earnings estimates for the second quarter.
FindWhat.com, headquartered in Fort Myers, Florida, noted that Espotting stockholders will receive 8.1 million shares of its common stock along with $27 million in cash. Additionally, it will issue options and warrants to purchase common stock to employees and affiliates of the European-based Espotting.
