United Online, Inc. UNTD disclosed it completed the divestment of all the stock of its fully-owned subsidiary, MyPoints.com, Inc. to Prodege, LLC. The deal was valued about $13 million.
The company's Interim CEO, Jeff Goldstein, said "The completion of the competitive sales process for MyPoints marks another major milestone in our ongoing evaluation of strategic alternatives to maximize value for our shareholders." He added, "We look forward to providing future updates on our strategic alternatives process."
United Online said JMP Securities acted as its exclusive sell-side advisor. The Company said it would reveal further developments related to the tactical alternatives process when its Board of Directors approved a specific material action or otherwise concluded the review of the tactical alternatives.
On Tuesday, the stock traded down by 0.31 percent.
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