Press Release: D&B Announces Agreement to Acquire Hoover's

SHORT HILLS, N.J. and AUSTIN, Texas–(BUSINESS WIRE)–Dec. 5, 2002–D&B and Hoover's today announced a definitive agreement whereby D&B will acquire Hoover's.

The transaction is valued at $7.00 per share in cash, for a total of approximately $117 million, or $81 million net of Hoover's cash.

Hoover's, based in Austin, Texas, provides industry and market intelligence on public and private companies, primarily to sales, marketing and business development professionals. For the trailing 12 months ended September 30, 2002, Hoover's reported revenue of $32 million and its first full year of profitability, with net income of $1 million.