ReachLocal, global leader in local online marketing, has announced it has acquired the Australian arm of the business – ReachLocal Australia – from its joint venture partner Netus Ptd Ltd, signaling the company is now sole owner of all its international operations.
ReachLocal acquired the stake from Netus Pty Ltd, an Australian venture capital company backed by News Corporation.
Commenting on the acquisition, Zorik Gordon, co-founder and CEO of ReachLocal said: We are excited that ReachLocal has grown to a position that allows us to integrate ReachLocal Australia as a fully owned operation with our other international businesses.”
According to Daniel Petre, founder and chairman of Netus, ReacLocal has a “unique and strong business model, with extraordinary potential in one of the fastest growing markets in the world – digital advertising for small- and medium-sized businesses.”
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