Reading,
England – Atex,
a provider of content management and advertising software for online publishers,
announced on Thursday that it has acquired a majority stake in online
classifieds service Kaango.
Financial terms of the deal were not disclosed.
PaidContent
noted that Atex purchased the shares from Hearst Corp. and MediaNews Group,
which paid $20 million for 80% of Kaango in 2007.
Founded in 2006, Kaango
serves classified ads for more than 200 U.S. Web publishers.
U.K.-based Atex
said it intends to expand Kaango’s services worldwide, while bolstering its U.S.
operations with its own sales, service and support infrastructure.
Related Links:
http://www.atex.com
