Bankrate acquires three sites to build traffic
Via Rafat, Bankrate has announced the acquisition of three websites from East West Mortgage for $4.4M.
The three sites, Mortgage-calc.com, Mortgagecalc.com and Mortgagemath.com, as you might expect, all provide calculators and utilities to help compute mortgage payments, along with supporting articles, white papers and other materials for consumers evaluating loans.
The new sites should provide additional traffic for Bankrate's display and yperlink ad sales.
Bankrate announced 2Q earnings of $0.23 per share for the quarter. Q2 revenues of $19.7M were flat from Q1, but up $7.3M from Q2 of 2005. During the conference call, Bankrate CEO Tom Evans indicated that they continued to look for new acquisitions, leveraging the $90M raised in May for that purpose.
Comments