United Online, Inc. (United Online
) has completed the sale its ‘StayFriends’ business. The company, which offers web hosting, broadband, DSL, email, and internet security services through its NetZero and Juno brands, has headquarters in Woodland Hills, California, United States.
United Online specializes in offering consumer services and products over the Internet, and its StayFriends’ business includes social networking sites and advertising services based in Germany. The company has received antitrust approval for the sales, which is reported to have been worth around 16 million euros ($17.8 million). Köln, Germany-based online advertising company Ströer Content Group GmbH have bought the business.
United Online announced their intention to make the sale in March of this year. At that time the company suggested that selling StayFriends was “consistent with our strategy to exit the social media business”. The sale of its StayFriends business comes in the wake of its sale of ‘Classmates’.
“This completed transaction is the culmination of a competitive and thorough process conducted with the assistance of ACXIT Capital Partners to maximize the value of StayFriends,” explained United Online’s CEO Jeff Goldstein. “Our Board of Directors concluded that Ströer offered the superior value-creating alternative for our shareholders.” Do you know of any other companies selling parts of their businesses? Let us know the details. Add your comments below.