DM News: FindWhat.com Signs Espotting Deal

FindWhat.com planned on purchasing Espotting, a British search firm, but balked when it became unsure about the validity of Espotting's accounting. Indeed, an audit found that instead of making money, the firm was bleeding about a million dollars a month. So, in true Internet fashion, FindWhat agreed to purchase Espotting this week for more than the original asking price. A thirty percent rise in FindWhat stock since the original offer explains the increase in purchase price. Espotting shareholders will receive less cash than originally offered but get more in FindWhat stock.