Local Matters Acquires Local Mobile Search Firm mobilePeople

Media technology provider Local Matters is acquiring Danish local mobile search and advertising provider mobilePeople. The Denver, Colorado-based firm, which specializes in local search, will acquire all of the outstanding capital stock of mobilePeople in exchange for a combination of cash and Local Matters stock. No financial details of the deal were disclosed. The buy out means that Local Matters will now be able to offer directory publishers, media publishers and directory assistance providers with their local search technology across the internet, mobile and voice. The two companies are already familiar with one another, having formed a business partnership two years ago. They have several joint initiatives in progress. The transaction is expected to close in the second quarter of 2008 (release).