Yellow Pages Group to Acquire Canpages

YELLOW Media Inc, has announced that it has reached a definitive agreement to acquire Canadian local search and directories publisher Canpages from an investor group for a purchase price of approximately $225M.

"The acquisition of Canpages will accelerate our business transformation to the digital world," said Marc P. Tellier, Chief Executive Officer, Yellow Pages Group. "Canpages has built a strong local search business and we are pleased with the prospects of joining forces. It will give us the opportunity to expand our sales force, online capabilities and customer offerings."

Headquartered in Vancouver, Canpages publishes 84 directories for a total circulation of approximately 8 million copies. The company's website, Canpages.ca, attracts more than 3.5 million unique visitors each month. Canpages generates annualised revenues of $110M with an online contribution of approximately 23 per cent.

The Company employs about 700 people in Canada of which more than 450 are sales consultants.

"Combining with Yellow Pages Group will enable Canpages to provide a stronger digital value proposition to advertisers" said Oliver Vincent, Chief Executive Officer, Canpages.

"I am confident that bringing together two experienced players in the local search industry will benefit both consumers and Canadian businesses.", Canpages. "I am confident that bringing together two experienced players in the local search industry will benefit both consumers and Canadian businesses."

Leave your comments:
(Please note all comments are subject to an approval process before publication, no HTML or scripts allowed.)