Resource Nation has acquired the brand and associated assets of Business.com the online destination for business buyers looking for business-to-business solutions. JMI Equity, a growth equity firm that specialises in investments in internet companies, provided funding in support of the transaction and the Company’s ongoing growth. Resource Nation Chief Executive Officer Ryan Peddycord will continue to lead the Company with a combination of Business.com and Resource Nation management teams. Terms of the transactions were not disclosed.
“We are excited about this transaction and believe the combination of Resource Nation and Business.com will allow us to offer opportunities for our customers to reach a larger number of B2B purchasers at multiple stages in the purchasing process,” said Mr. Peddycord. “We are committed to providing the most comprehensive service and product offering available in our space. With the acquisition of Business.com, Resource Nation’s audience will have the ability to utilize the site as a one-stop destination for all the information and resources they need when making a purchase.”
As part of the transaction, JMI Equity General Partner Peter Arrowsmith and Vice President David Greenberg have joined Resource Nation’s Board of Directors. “JMI Equity is a sophisticated investor with strong expertise in our industry and helping companies similar to ours grow,” continued Mr. Peddycord. “We are deeply impressed with their understanding of our business and its growth drivers. With JMI Equity as our partner, I am confident we have the strategic and financial support to execute our strategy for the benefit of our employees, customers and service partners.”
Resource Nation will retain a number of current and former Business.com sales and account managers as well as other key employees. The company will remain headquartered in San Diego, with offices in Santa Monica and Boston.
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