Dex One (NYSE: DEXO) is going to phase out the separate operation of Business.com, a company the yellow pages and interactive advertising services provider paid $345 million for in 2007.
Business.com is based in California. The firm employed some 100 people and was profitable when Dex One – then known as R.H. Donnelley – made the deal.
The move came a day after Dex One reported a 15 percent drop in advertising revenues.
“Three years ago, Dex One required an infusion of talent and technology assets to support the expansion of its digital portfolio. The purchase of Business.com enabled Dex One to build the DexKnows.com local search platform, create the DexNet distributed ad network, and develop a robust account and content management system,” said Alfred Mockett, who recently took over as the chief executive officer at Dex One. “While the acquisition delivered on a number of fronts, the Business.com operations are no longer viable and are not a part of our long-term plans.”
How many employees would be affected was not disclosed by the company.
Dex One said the Business.com site and existing customers would be supported for “an extended transition period.”
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