PRIMEDIA announced today that it has entered into an agreement with eBay Inc. to acquire its Rent.com subsidiary. Terms of the transaction were not disclosed.
According to the press release, PRIMEDIA’s category-leading web sites and mobile applications will be complemented by Rent.com’s successful pay-for-performance business model. The combination will provide advertiser clients a more comprehensive suite of products that deliver cost-effective and high quality leads and leases. Rent.com adds another strong brand to PRIMEDIA’s extensive apartment and rental home resources, which include the web properties ApartmentGuide.com, Rentals.com and RentalHouses.com.
eBay Inc. has entered into an agreement to divest Rent.com because it had limited synergies with our core businesses as we’re focusing on enabling commerce for buyers and sellers globally through platforms and technology.
Cheers,
RBH
