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.
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.
said it intends to expand Kaango’s services worldwide, while bolstering its U.S.
operations with its own sales, service and support infrastructure.