InfoSpace to buy online Yellow Pages directory Switchboard

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Bellevue, Wash.--InfoSpace, a search and online directory technology company, has agreed to acquire Switchboard, an Internet-based Yellow Pages directory, for about $160 million in cash.

The move gives InfoSpace a significant market presence in an area that has received a lot of attention recently: local search.

Infospace said the deal increases its footprint in online directory services. The companies together account for 23% of total online Yellow Pages searches.

"Combined, we assume a leadership role in a market growing as fast as Web search and position ourselves to leverage our complementary assets in Web search and online directory," said Jim Voelker, chairman-CEO, Infospace.

The transaction is expected to close in the second half of 2004.

--Carol Krol

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