ServiceMagic to acquire ImproveNet, consolidating residential contractor lead marketplaces

ServiceMagic agreed to acquire all outstanding stock of ImproveNet for about $6.72 million in cash, combining two online marketplaces that connect consumers with prescreened residential contractors and home service professionals.

“ServiceMagic® Inc. and ImproveNet Inc., two online marketplaces that connect consumers with prescreened residential contractors and home service professionals, announced that they have entered into an agreement whereby ServiceMagic will acquire all of the outstanding stock of ImproveNet.”

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