GOLDEN, Colo. - ServiceMagic Inc. and ImproveNet Inc., two online marketplaces that connect consumers with prescreened residential contractors and home service professionals, announced ServiceMagic will acquire all of the outstanding stock of ImproveNet.
ServiceMagic has agreed to buy all of the outstanding shares and in-the-money warrants and stock options of ImproveNet for approximately $6.72 million in cash.