Google Acquires Channel Intelligence for $125 million Cash

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Click Here Now

Google (NASDAQ: GOOG ) acquired Channel Intelligence -- an online marketing service -- for $125 million in cash on Wednesday. As one of ICG Group's (NASDAQ: ICGE ) consolidated companies, Channel Intelligence has helped companies from Target to Best Buy drive $2 billion in online sales annually, through its product search engine, where-to-buy, and Facebook Platform technologies. The company also tracks around 15% of U.S. transactions online. All in all, the acquisition is expected to help merchants and users sell and buy on Google Shopping.

In return, the ICG Group will receive $125 million in cash. When the deal is completed in the first quarter of 2013, the company will receive around $60.5 million.

CEO of ICG Walter Buckley said of the transaction:

The sale of CI to Google is a testament to the quality of its technology and its strong team led by ICG President, Doug Alexander, who positioned the company to succeed in the rapidly growing e-marketing industry....As drivers and architects of CI's growth and success, we are very pleased with this outcome.

Jeff Fischer and team have demystified options. And they can rack up income like $1,030... $2,626... and $3,228 on a schedule you can set your watch by!
That's why we're glad to announce every single one of their closely guarded strategies is available to YOU during May and June – 100% FREE, no strings attached! Just enter your email address in the box below...

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment icon found on every comment.