Wednesday, November 7, 2007

Looksmart Sells FindArticles To CNET

San Francisco-based LookSmart Ltd., said Wednesday that it has entered into a definitive agreement to sell FindArticles.com to CNET, in a deal worth approximately $20.5M. CNET is also located in San Francisco. According to LookSmart, the deal is an asset sale, and improves the company's overall financial position. FindArticles.com is a website which contains archived articles from magazines, journals, trade publications, and newspapers; according to LookSmart, the site has approximately 11 million articles from 3,000 sources. RBC Capital Markets advised LookSmart in the deal.