LiveDeal sold to Internet yellow pages provider YP Inc. for $11 million

[mandy]

Internet Yellow Pages provider YP Corp. said Thursday that it has acquired LiveDeal Inc., which operates online business listings and classified advertising, for about $11 million in stock.

Rajesh Navar, the founder and chief executive of Santa Clara-based LiveDeal, will serve as president, chief architect and board member. Before founding LiveDeal, Navar was a senior member of the engineering team at eBay Inc.

Under the deal shareholders of LiveDeal received 15,968,514 shares of YP common stock. YP (OTCBB:YPNT) shares closed Wednesday at 69 cents.

LiveDeal will remain an independent entity and operate as a subsidiary of YP...

full article: http://news.moneycentral.msn.com/provide...?Feed=ACBJ&Date=20070607&ID=7009393

[regic]

Press release: http://info.livedeal.com/en_US/aboutLD/p...07_07.html