Mamma.com and ad network sold
ADOTAS — Copernic, a software development company, is selling search engine Mamma.com and its third party ad network for $5 million to Empresario, a privately owned digital media network.
According to Marketwire, the transaction is subject to customary closing conditions, including the approval of the sale by the shareholders of Copernic. The money will be utilized to invest in research and development to grow the Copernic desktop search business.
The SEC has been investigating former investor Mark Cuban, owner of the Dallas Mavericks, for insider trading involving the company, Mamma.com, now known as Copernic, to avoid losing $750,000.
Marc Ferland, President and CEO of Copernic said that one of the reasons for the sale was that the “search and graphic advertising revenue has been in significant decline over the past 3 years due to industry concentration in a few very large competitors and consolidation of mid and low tier players.”
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Reader Comments.
IMO, this is great for copernic, it allows them to focus on copernic desktop search, copernic mobile, and thier new product that is coming soon. mycopernic:
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