BT buys online classifieds firm
BT has bought a UK-based online business directory company, Ufindus Ltd, for £20m.
The deal, announced on Wednesday, will "underpin" the growth of BT's Directories business, according to BT. Ufindus, which has more than 20,000 small and medium-sized business customers and 1.9 million online directory listings, offers its services through three directories: SmileLocal, MoreUK and Ufindus. It also runs more than 100 niche directories such as builderregister.com, and does website design.
Ufindus is based in Lancaster and, according to a BT statement, generated revenues of £14m in the year to 31 March, 2007.
"Ufindus will play an important role in the continued development of BT Directories's online portfolio," said David Benjamin, the chief executive of BT Directories, on Wednesday. "Through Ufindus's considerable expertise and experience in online classified advertising, we access further local classified product offerings, significant search traffic and new customers for this fast-growing part of our business."