IAC Acquires Felix; Terms Undisclosed
CityGrid, an operating business of IAC (Nasdaq: IACI), announced the acquisition of Felix, the rapidly growing performance-based local advertising service for small and medium-sized businesses. Felix will operate as an independent business under CityGrid, which includes local sites Citysearch, Insider Pages and Urbanspoon, and will report to CityGrid's CEO, Jason Finger. Terms of the deal have not been disclosed.
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