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Advertising services company Marchex Inc. of Seattle today said that it has acquired directory assistance provider Jingle Networks Inc., based in Billerica and New York.
Jingle Networks, which provides the toll-free 1-800-FREE-411 service reported the acquisition on its website, and Marchex issued a press release.
When Jingle Networks, founded in 2005, reported a $6.75 million funding in 2009, its total investment was said to be $82 million.
In its press release, Marchex said the Jingle Networks acquisition will provide it with a “growing source” of mobile distribution for its call advertising network, including pay-for-call. Marchex is working to leverage the adoption of mobile and smart phones and voice search.
Marchex said it will pay up to $62.5 million in cash and Marchex common stock plus transaction costs. Marchex also said it expects Jingle Networks to generate more than $28 million in 2011 revenue, up more than 40 percent over 2010 revenue.
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