ServiceMagic to acquire ImproveNet

ServiceMagic to acquire ImproveNet

ServiceMagic, Inc., and ImproveNet, Inc., recently announced that the two companies have entered into an agreement whereby ServiceMagic will acquire all of the outstanding stock, in-the-money warrants and stock options of ImproveNet.

"By joining forces with ImproveNet, we will be well positioned to capitalize on the growing number of consumers seeking home service professionals and information on home improvement projects through the Internet," ServiceMagic co-CEO Rodney Rice said. "Our combined resources will improve both of our existing services to meet our growing consumer demand."