Fusion Corporate Partners

ITA Software, a flight information software company, and Google have signed a definitive agreement for Google to acquire ITA for $700 million in cash, subject to adjustments.

“ITA’s very talented team has created an impressive product to organize flight information,” said Eric Schmidt, Chairman and CEO of Google. “Their technology opens exciting possibilities for us to create new ways for users to more easily find flight information online, and we’re looking forward to welcoming them to Google.”

“It is a privilege to work with a most skilled and dedicated team to build innovative technologies that people use every day,” said Jeremy Wertheimer, CEO & President, ITA Software, Inc. “We are all looking forward to continuing and expanding our efforts as part of Google.”

Founded in 1996 by a team of MIT computer scientists, ITA’s technically advanced solutions for organizing flight information were hailed as a catalyst for change in the online travel industry. Its innovative algorithms and deep airline industry expertise create a customizable flight data organization tool used by both airlines and online travel agencies.

The deal will allow Google to pursue the creation of new flight search tools that will enable users to find better flight information more easily on the Internet. Google is excited about ITA’s QPX business and the opportunity to work closely with current and future customers. Google will honor all existing agreements and looks forward to adding new partners.

Location: USA, Cambridge, CA & USA, Mountain View, CA

Ref: F231109-479

Other recent Google acquisitions

• Google to make cash offer to acquire Global IP Solutions Posted on May 10, 2010
• Google acquires Labpixies Posted on April 30, 2010
• Online photo editor Picnik Acquired by Google Posted on March 9, 2010
• Google has acquired DocVerse Posted on March 6, 2010
• Social search engine Aardvark has been acquired by Google  Posted on February 14, 2010
• Google is acquiring AppJet, the small startup that builds the popular collaboration tool EtherPad  Posted on December 4, 2009

CatholicMatch.com has acquired TraditionalSingleCatholics.com. the terms of the deal were not dixclosed.

TraditionalSingleCatholics.com was launched four and a half years ago to serve single Catholics with specific needs and preferences. It elicited a flood of grateful emails: “Thank goodness you’re there. It’s so nice to go to a place where you don’t have to explain yourself and everybody’s on the same page.” Others wrote: “Sometimes you feel like you’re out there all alone, and this site provided a much-needed source of support.”

The staff of TraditionalSingleCatholics.com has told its members that they’ll be in good hands at CatholicMatch. “They’ll have access to so many more services than we could ever provide: 38 forums, three live chats, a sophisticated in-line instant message system, a temperament test and the largest community of Catholic singles online.”

CatholicMatch.com acquired CatholicDaters.com in 2007 and SingleCatholics.com in 2008.

Location: USA, Pittsburgh, PA

Ref: F231109-477

Local.com Corporation, a local search site and network, has acquired the assets of OCTANE360, a technology startup providing domain-based local advertising solutions to small businesses, domain portfolio owners, agencies and channel partners.

Under the terms of the agreement, Local.com acquired the assets of OCTANE360 for $5 million in cash and stock with an earnout of up to $5.9 million if certain performance criteria are met in the two-year period following the closing. Founded in 2008 and based in Los Angeles, California, OCTANE360 will become a wholly-owned division of Local.com.

“This transaction represents a significant expansion of Local.com’s product suite and technology platform, allowing us to manage the scaled acquisition, creation and deployment of geo-category targeted small business domains,” said Heath Clarke, Local.com chairman and CEO. “Furthermore, Octane Experts’ content marketplace allows for the scaled procurement of proprietary, curated content, thereby enhancing the SEO value of local domains under our management.”

Local.com anticipates that the deployment of content across proprietary geo-category local domains will result in an increase in organic O&O traffic, a strategic objective of the company. The company also expects that the OCTANE360 product suite will open the domain portfolio industry as a potentially valuable new market for the Local.com network. OCTANE360 currently generates revenues from various ad formats including subscription advertising, performance and display ad units.

“We are excited to join forces with Local.com,” said Rioux. “We feel that our combined assets of platform, products, services, reach and relationships create a compelling offering to serve the growing local search market. We look forward to becoming part of the Local.com team while quickly ramping our business.”

CREDIT FACILITY

The company has also opened a $30 million revolving credit facility with Silicon Valley Bank. The facility, which is secured by all of the company’s assets, is expected to be used primarily for general working capital and to fund strategic growth initiatives.

Location: USA, Irvine, CA

Ref: F231109-475