Red Ventures To Acquire Bankrate In All-cash Deal With An Enterprise Value Of $1.4 Billion

By Tonya Garcia Markets MarketWatch Pulse

Bankrate , an online publisher of personal finance content, said Monday that it has entered a deal with Red Ventures to be acquired in an all-cash deal values Bankrate at an enterprise value of about $1.4 billion. Red Ventures is a data company that connects financial services, home services and healthcare businesses to consumers. Bankrate shareholders will receive $14 per share, about 31% above Bankrate's average closing share price for the past three months. The transaction is expected to close in 2017. Bankrate shares are up 7% in premarket trading, and the stock is up 66% for the past year. The S&P 500 index is up 15.2% for the last 12 months.

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