 
FindWhat.com Completes Acquisition of B & B
Enterprises Assets
FORT MYERS, Fl. –
June 4, 2004 – FindWhat.com (Nasdaq: FWHT)
filed Form 8-K announcing that it completed
its acquisition of certain of the assets of
B & B Enterprises, Inc., a New Jersey
corporation (“BBE”). The assets purchased
comprise proprietary, internally-developed
client tools, distribution partner
interfaces and implementation software used
within the performance-based,
keyword-targeted advertising business
operated by BBE.
BBE received approximately $4,000,000 in
cash and a $10,300,000 non-interest bearing
secured note payable, reflecting an
aggregate purchase price of approximately
$14,300,000. The secured note has a term of
eighteen months and is payable based on
performance of the purchased assets. More
specifically, the timing and final amount of
the payments on the note are correlated to
traffic (or “clicks”) delivered by the
purchased assets.About
FindWhat.com
FindWhat.com creates and offers proprietary
performance-based marketing and commerce
enabling services that help businesses of
all sizes throughout the business cycle in
reaching prospects, converting prospects to
customers and then retaining those
customers. Its marketing division creates
online marketplaces where buyers are
introduced to sellers at exactly the right
moment, when they are searching for products
and services on the Internet; this
introduction is based on a bid-for-position,
pay-per-click, keyword-targeted advertising
service. FindWhat.com offers this service
directly to advertisers through the
FindWhat.com Network™ in the U.S., the
Espotting Network in Europe and offers a
private label version of this service to
large companies and portals worldwide,
including Lycos and Mitsui & Co., Ltd.
FindWhat.com also operates a merchant
services division which includes Miva®, a
leading online platform of software and
services for small to medium-sized
enterprises (SMEs). With its easy-to-use,
highly customizable and integrated
browser-based point and click business
creation software and a vast partner
network, Miva is focused on helping to
create and enhance online business and
marketing services for SMEs. Additionally,
FindWhat.com has a primary traffic division,
currently offered through Comet Systems, a
leading provider of connected desktop
consumer software. More information on
FindWhat.com is available on the Company’s
website at http://www.FindWhat.com. |
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Principals of Fairmount Partners are acting as advisors to B & B
Enterprises in connection with the acquisition.
Contact:
Charles M. Robins
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