Search provider FindWhat.com (Quote, Company Info) announced on Wednesday plans to acquire Mirva, a provider of online storefronts and other e-commerce functions, in a bid to buff up its offerings for small businesses.
FindWhat agreed to pay privately held Mirva’s shareholders $2.7 million in cash and $2.7 million in stock, also assuming about $2.5 million in notes and liabilities. Mirva offers small businesses the opportunities to improve their e-commerce capabilities through its Mirva Merchant storefront product.
The deal is subject to approval by both companies’ boards of directors. Mirva would operate as a division of FindWhat, maintaining its offices in San Diego and top management. The deal is expected to close by the end of the year.
The purchase represents a commitment by FindWhat to strengthening its position among the small businesses that were the early adopters of paid search. As a second-tier paid search provider behind Google and Overture Services, FindWhat built a thriving business in appealing to more cost-conscious advertisers by striking distribution deals with smaller search partners, such as Dogpile and Excite.