Blucora acquires US-based explainer site HowStuffWorks for $45M
Blucora has taken the explainer site HowStuffWorks from Discovery Communications. The acquisition deal is valued at $45 million in cash, according to VentureBeat.
The information site had been acquired by Discovery in 2007. With the previous purchase price pegged at $250 million, Discovery had incurred a significant amount of loss on the deal, the report explained.
Under the terms of the transaction, Discovery will continue to sell native advertisements on HowStuffWorks. It will team up with Blucora to maintain access to the video content of the site, the report detailed.
As of now, HowStuffWorks currently has 38 million unique monthly visitors. The company also said it gathers 200 million views every month, the report added.
Blucora was formed in 1996 and currently runs the Infospace search engines. It also owns tax preparation services provider TaxAct, which it added in 2012 in a $287-million deal. Aside from that, the firm owns online electronics retailer Monoprice. In the past 12 months, the company's stock has soared by 32% and posted a market cap of $812 million, VentureBeat reported.