InfoSpace Shares Up On Buyout Rumor; $1 Billion Offer From LaNetro Zed: Report

Still very speculative, and InfoSpace has been on the block for a long time now: shares of the online and mobile company were up 20 percent today, after a Spanish newspaper reported that Spanish mobile content giant LaNetro Zed is working out a deal to buy the company for 800 million euros, or about $1.08 billion. LaNetro earlier this year bought controlling stake in UK mobile content firm Monstermonb, and also raised equity funding from Veronis Suhler Stevenson (VSS), the U.S.-based private equity firm.
Reuters: I think it’s a pretty aggressive valuation” said Stanford Group analyst Clayton Moran, who has a sell” rating on InfoSpace and a $15 price target on its stock due to growth concerns. It’s a slow- to no-growth story with significant competitive pressures,” Moran said.

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