IAC Gets a Bargain in Buying ValueClick Websites
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IAC/InterActiveCorp, the Internet holding company owned by billionaire Barry Diller, got a bargain when it agreed to buy a group of ValueClick Inc. websites for $80 million, according to Goldman Sachs Group Inc.
The properties, which include finance-education site Investopedia, were valued at $140 million on a sum-of-the-parts basis, Debra Schwartz, an analyst at Goldman Sachs, said in a research report. New York-based IAC also should be able to squeeze cost savings out of the sites since they could be integrated with its existing Web search properties, she said.