Bankrate May Have Paid $24 Million For InsuranceAgents.com
Back in March it was reported that Bankrate, Inc. acquired InsuranceAgents.com for an unknown price.
According to a SEC filing it appears the company may have spent $24 to acquire InsuranceAgents.com
“During the six months ended June 30, 2012, the Company acquired certain assets and liabilities of certain entities for an aggregate purchase price of $24.2 million, including $10 million in potential earn out consideration. ”
“These certain entities are individually and in the aggregate immaterial to the Company’s net assets and operations.”
“All acquisitions were accounted for as purchases and are included in the Company’s consolidated results from their acquisition dates. ”
“The Company recorded $2.1 million in goodwill and $22.4 million in intangible assets related to these acquisitions.”
I’m not aware of any other major acquisitions of Bankrate, Inc. for the six months ending June 30, other than InsuranceAgents.com, so for now it looks like they may have spent some $24 million for it.
InsuranceAgents.com was at the time of acquisition a business so it was not a pure domain purchase.