Reply.com, the auction marketplace for the acquisition of locally-targeted and category specific customer prospects, is to acquire MerchantCircle, a largest online network of US local business owners, for $60 million in cash and stock. The transaction is expected to be completed in Q3 2011. Reply! founder and CEO, Payam Zamani, will be CEO of the combined companies, which will be called Reply! Inc. Individually, each company is profitable, and the combined company projects revenues of over $100 million in 2012.
Upon completion of the acquisition, Reply! will be comprised of two components: Reply! Marketplace and Reply! Media. Founder and CEO of MerchantCircle, Ben T. Smith IV, will be President of the Reply! Media Division, reporting to Zamani.
“There is a multi-billion-dollar market opportunity in providing a practical and scalable online marketing solution for powering locally-targeted commercial transactions,” said Reply! founder & CEO, Payam Zamani. “Reply!’s Marketplace, combined with MerchantCircle’s network of local merchants and millions of local consumers, position the company to revolutionize locally-targeted online marketing and solve a major problem for locally-targeted businesses, who are frustrated by the complexity and lack of effectiveness of search engine marketing and display advertising.”
USA, San Ramon, CA
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