Marchex Acquires Jingle Networks for $62.5 Million
Seattle-based Marchex has acquired Jingle Networks, the company known for business search by dialing 1-800-FREE411 or using a mobile application. Marchex said that, with the acquisition, the company’s call-driven revenues will represent more than 75 percent of the company’s annual revenues by the end of the year. Marchex will pay up to $62.5 million in cash and stock for the privately held company, which has raised close to $90 million in venture capital. Marchex’s stock traded higher, increasing 25 cents, or 3.4 percent, to $7.72 a share.