Online marketing services company ValueClick is buying financial information and investing education website Investopedia from Forbes for approximately $42 million in cash.
The reasons for the purchase: content, traffic, advertiser relationships and its team, says ValueClick – the site had been put up for sale back in June.
Founded in 1999, Investopedia provides visitors with a glossary of financial terms, news articles, tutorials, and investing education tools, such as virtual trading simulators and exam preparation materials.
Forbes had acquired Investopedia for an undisclosed amount back in 2007.
The site has self-reportedly built nearly 30,000 pieces of financial related content and develops an additional 7,000 pieces of content on an annual basis. Investopedia is said to generate most of its traffic organically and monetizes primarily by selling cost-per-impression display advertising through its direct sales force.
The site attracts 2.2 million unique U.S. visitors per month according to comScore and boasts some 3.1 million newsletter and 1.7 million email subscribers.
Investopedia’s management team and employees have been retained by ValueClick and the business will run as a wholly-owned subsidiary.
The company is expected to generate about $10 million in revenue by the end of this year.