Edmonton, Canada – ValueClick, a provider of online
marketing services, announced on Wednesday that it has acquired Forbes’
Investopedia financial information website, for $42 million in cash.
Founded in
1999, Edmonton, Canada-based Investopedia contains nearly 30,000 pieces of
financial-related content, and attracts 2.2 million unique U.S. visitors
monthly.
The company was acquired by Forbes in 2007, and is projected to
generate $10 million in revenue and $5 million in profit in 2010.
"Investopedia
gives us great content, organic traffic and established advertiser
relationships in the important financial services advertising vertical, as well
as an experienced team and immediate synergy opportunities with ValueClick
Brands and ValueClick Media," said Jim ValueClick CEO Zarley.
The sale
comes shortly after Forbes opted to shutter another acquisition, freelance
journalism site True/Slant.
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