ServiceMagic to acquire ImproveNet for ~$6.72M

ServiceMagic announced it will acquire all outstanding stock of rival online contractor-marketplace ImproveNet for approximately $6.72 million in cash, combining two networks connecting consumers with residential contractors.

“ServiceMagic has agreed to buy all of the outstanding shares and in-the-money warrants and stock options of ImproveNet for approximately $6.72 million in cash.”

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