Investment bank B. Riley & Co LLC (B. Riley) has bought web host and internet provider United Online, Inc. (
United Online). B. Riley, which has headquarters in Los Angeles, California, United States, was established in 1997. It is a public company that bills itself as a “diversified financial services company offering collaborative solutions to the capital raising and financial advisory needs of public and private companies and high net worth individuals”. The deal was reportedly worth in the region of $170 million.
United Online’s main business is Internet access, but the company has a range of subsidiaries (which include Mypoints.com, Inc., Netzero, and Juno) that offer services like web hosting. Its business also extends to e-commerce, retail, social networks, and loyalty marketing. Internet security and web hosting services are offered through its NetZero and Juno brands. United Online’s former President Robert J. Taragan, who previously left the company, will rejoin as part of the deal.
"The acquisition of United Online is consistent with our plan of making financially prudent acquisitions that provide outsized risk-adjusted returns," explained Bryant Riley, the Chief Executive and Chairman of B. Riley in a press release. "We look to benefit from the experience of United Online's seasoned employees and the company's ability to achieve predictable recurring revenue and EBITDA, while operating the business to maximize free cash flow for distribution to our shareholders."
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