Answers buys Dictionary.com

Answers Corp. late Monday said it agreed to buy Lexico Publishing Group LLC, the owner of Dictionary.com, Thesaurus.com and Reference.com for $100 million in cash. The company said the deal, which was expected to be completed this year, would add to earnings in 2008.

By JERUSALEM POST BUSINESS STAFF
July 18, 2007 07:01

 
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Answers Corp. late Monday said it agreed to buy Lexico Publishing Group LLC, the owner of Dictionary.com, Thesaurus.com and Reference.com for $100 million in cash. The company said the deal, which was expected to be completed this year, would add to earnings in 2008. Answers also lowered its revenue outlook for the second quarter of this year to $2.75m. to $2.8m. from the $2.8m. to $3.2m. range it forecast in May. The company cited more pronounced seasonality in traffic and a slower than expected ramp of its direct ad sales effort.

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