December 17, 2015 (Los Angeles, CA) ─ Siemer & Associates LLC, the investment bank serving the digital media, software and technology industry, is pleased to announce it has advised Local Corporation (“Local” or the “Company”) on its sale to Media.net, a leading contextual advertising company headquartered in India. Local, a leading local search and advertising technology company, provides search results to consumers who search online for local businesses, products, and services in the United States.
“Media.net’s acquisition of Local is representative of the growing cross-border activity we see from international acquirers in the media and advertising space,” said David Siemer, Managing Director of Siemer & Associates. “We were happy to leverage our expertise and network of relationships in the industry to assist Fred and his team on finding a suitable acquirer.”
Local provides its search results through its flagship Local.com website and through other proprietary websites. The Company also operates a hosted mobile search solution called nQuery™, and a proprietary local shopping data platform called Krillion®, which aggregates and distributes product search results to third party partners.
“We are very appreciative of the undying support and effort that Siemer & Associates provided in exploring every possible strategic opportunity to maximize the value of our business,” said Fred Thiel, Local Corporation’s Chairman and CEO. “Siemer & Associates provided us invaluable transaction and sector expertise and access to an incredibly wide network of relationships throughout what was a very complex process.”
The transaction closed on December 1, 2015. Financial terms of the deal were not disclosed.
About Local Corporation
Local Corporation is a leading local search and advertising technology company that aggregates and curates the most relevant and rich personalized content and presents it to millions of consumers wherever and however they search for information, while providing significant reach and value to the company’s advertisers and partners. For more information, visit: http://www.localcorporation.com or visit the company’s flagship site: http://www.local.com.
About Siemer & Associates LLC
Siemer & Associates LLC is a boutique merchant bank that serves digital media, software and Internet companies throughout their business life cycles. Our investment banking professionals have successfully completed more than 70 transactions that aggregated over $3 billion in sell-side mandates and surpassed $1.5 billion in equity capital. We offer exceptional corporate M&A, capital raising and financial advisory services.
S&A is committed to offering honest advice and guidance based on relevant experience, deep domain knowledge and an understanding of the market. We provide our clients with the insight and perspective necessary to make informed decisions, resulting in an enviable record of client satisfaction and success. Siemer & Associates is headquartered in Los Angeles, CA with offices in London, Sydney, and Singapore.
S&A’s affiliate, Wavemaker Partners, is one of the most active investment funds in Southern California, claiming more than 170 current portfolio companies and making an average of 30+ new investments each year. As part of Wavemaker Partners, Wavemaker Labs, is a Singapore-based incubator under the Technology Incubation Scheme (TIS) of the Singaporean government’s National Research Foundation (NRF).