Local.com Acquires Screamin’ Daily Deals For Up To $32 Million
July 11, 2011 at 07:38 AM EDT
Online local media company Local.com this morning announced that it has acquired Screamin’ Media Group , the company behind Groupon clone daily deals site Screamin’ Daily Deals . Local.com paid $12.5 million in cash, stock and debt, with the opportunity for the shareholders of Screamin’ Media Group to earn up to an additional $20 million if certain - no doubt high-end - financial performance criteria are met during the two-year period following the closing of the transaction.