Answers Corporation , creator of Answers.com(TM), announced that it has entered into a purchase agreement to acquire Lexico Publishing Group, LLC, owner of the popular Web properties Dictionary.com, Thesaurus.com and Reference.com, for $100 million in cash. The transaction is subject to financing and customary closing conditions and is scheduled to be completed by fall of this year.
Lexico is a leading online provider of reference products and services, which attracted approximately 11.5 million unique monthly users in the U.S. during the month of June 2007, according to comScore Media Metrix.
Strategic addition of Dictionary.com, Thesaurus.com and Reference.com will propel the company into leadership position as online information publisher.
Source: CNNMoney
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