Montreal
– Yellow Media (YPG) announced on Tuesday that it will acquire local search and
directories publisher Canadian Phone Directories Holdings (Canpages), for $220
million from an investor group led by private equity firm HM Capital Partners.
Vancouver-based
Canpages publishes 84 directories with a combined circulation of 8 million
copies; its website counts 3.5 million unique monthly visitors.
"Canpages
has built a strong local search business and we are pleased with the prospects
of joining forces. It will give us the opportunity to expand our sales force,
online capabilities and customer offerings," said YPG chief executive Marc
P. Tellier.
Yellow Media also announced the contribution of its U.S. directory
operations, YPG Directories, to Ziplocal.
Under the terms of the all-stock
transaction, YPG will own a 35% stake in the combined YPG Directories and
Ziplocal entity.
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