TAMPA, Fla.--(BUSINESS WIRE)--TheDirectory.com, Inc. (OTC PINK: SEEK), an emerging leader in the Vertical and Local search space, today announced that it has signed two letters of intent to acquire a top level domain portfolio and directory platform and that it will form a new joint venture for the legal marketing space.
Company Founder and CEO Scott Gallagher stated, “Today we take a very important step forward in our quest to become a major player in the vertical search space. In addition to agreeing to acquire a portfolio of top tier vertical brands, Mr. Anthony McDermott, the founder of SWI Digital, Inc. has agreed to join TheDirectory.com as a consultant to develop a new legal vertical.”
Mr. McDermott is one of the pioneers of the legal vertical search space, having served as the founder and president of SWI Digital, Inc., a Full Service Multimedia and Lead Generation Company primarily focused in the legal space. The Company’s business model was built around the online advertising marketplace. SWI managed over 31,000 websites that provided exclusive advertising and lead generation services through its brands such as LawFirms.com, PersonalInjuryLawyer.com and MedicalMalpractice.com. In 2007 Mr. McDermott sold SWI to GeoSign Corp., an American Capital Company for $28 million in cash and $10 million in stock.
The top tier vertical brands being acquired by TheDirectory.com are: Divorces.com, BankruptcyLawyers.com, BankruptcyLawyers.net, EstatePlanningLawyers.com, EstatePlanningLawyer.com, WorkersCompLawyers.com, WorkersCompLawyer.com, SocialSecurityLawyers.com, SocialSecurityLawyer.com, InvestmentBanker.com, FinancialPlanners.com, AutoRepairs.com, BodyShops.com, Sportsbars.com and EquipmentRentals.com.
TheDirectory.com expects to close this transaction by May 1st, 2015.
About TheDirectory.com Inc.
www.TheDirectory.com network includes over 2,000 locally targeted Internet destinations that collectively generate nearly 100 million unique users annually. The Company owns and operates vertical directories such as www.Podiatrist.net, www.Chiropractor.net, www.Therapists.net, www.DentistAppointments.com, www.123HomeRepair.com and others. The Company also owns and operates one of the world's largest city guide networks under the “Hello” branded group of sites such as www.HelloTampa.com. For more information or to review the company's financial and regulatory filings with the Securities and Exchange Commission go to www.SEC.Gov
Forward-Looking Statements
Certain statements contained herein are "forward-looking" statements (as defined -- Private Securities Litigation Reform Act of 1995). TheDirectory.com, Inc. cautions that the statements made in this press release constitute forward-looking statements and are not guarantees of future performance and actual results or developments may differ materially from projections made in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at time the statements are made and are subject to change.
