The Westlake Village-based Internet advertising company ValueClick announced Aug. 4 that it had acquired Investopedia, a financial and investing information website.
ValueClick said it bought the company from Forbes for approximately $42 million in cash. In 2010, Investopedia is expected to generate $10 million in revenue and $5 million in earnings before interest, taxes, depreciation and amortizaion, ValueClick said in a news release.
Investopedia is based in Edmonton, Canada and was founded in 1999. The site draws 2.2 million unique U.S. visitors per month and makes money primarily by selling cost-per-impression display advertising, ValueClick said.
ValueClick said it will retain Investopedia’s management team and employee base, and Investopedia will be run as a wholly owned subsidiary of its new parent company.