“Answers.com, (NASDAQ: ANSW), creators of the leading answer engine Answers.com®, today announced that it has entered into a definitive merger agreement to be acquired by AFCV Holdings, LLC, a portfolio company of growth equity investor Summit Partners, for a total cash consideration of approximately $127 million.”
Here’s the full press release. Stock price for the sale is $10.50, and it’s still going to take some time to work through all the legal details including a shareholder vote.
“After an exciting six years as a public company, we are very pleased to achieve considerable value for our investors.”
Wow, six years. When we went public we were just changing from a subscription-based Alt-Click dictionary / encyclopedia pop-up to a free website. Now our growth is primarily from a phenomenal community that works hard at creating great answers that sit alongside our licensed reference sources.
I am proud to have been part of this since we started (as Guru.net) back in January 1999. It’s been one hell of a ride. Time to take it to the next level.