Just bumped into a friend while checking in at the hotel of the Kelsey Group Conference. He tells me Infospace has just sold Switchboard.com to Idearc (Superpages). Turns out Infospace has sold its whole online directory business to Idearc.
Excerpts from the Reuters article:
InfoSpace Inc said it agreed to sell its online directory business, including Switchboard.com, to Yellow-pages directories publisher Idearc Inc for $225 million in cash.
“What we did here was pick an asset that really the market was not valuing at all and turned it into real cash,” Bellevue, Washington-based InfoSpace’s CEO Voelker said by phone.
The 47 employees in the directory business are going to be offered jobs in Idearc, Voelker said.
The online directory business contributed about $17 million to the company’s first-half 2007 revenue of about $157 million.
The Kelsey Group blog has more info.
What it means: traffic consolidation. Superpages.com continues to build its online reach and frequency through this acquisition.