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Felix Acquired by CityGrid Media

Friday, August 31, 2012

FelixWilliam Blair acted as exclusive financial advisor to Yext, Inc. ("Yext") in connection with the sale of its pay-per call online advertising business, Felix, ("Felix" or the "Company") to CityGrid Media ("CityGrid"), an operating business of IAC/InterActiveCorp ("IAC"). The terms of the transaction are not disclosed.

Felix is innovating advertising by offering the most sophisticated pay-per-action phone advertising product to local businesses. Instead of paying for clicks or all phone calls, merchants only pay for high quality customer calls that are likely to lead to customers. Using advanced voice recognition and call analytics technology, bundled with easy-to-use tools, Felix enables merchants to market themselves with highly effective techniques previously available only to large enterprises. For businesses that depend upon high-quality phone calls to acquire new customers, Felix offers one of the best advertising services in the local market segment. The Company delivers premium leads across a variety of industries to over 15,000 local businesses.

CityGrid, an operating business of IAC and a leader in local business advertising solutions, empowers local businesses to thrive by providing them with tools designed to acquire and manage customers effectively. CityGrid owns and operates leading local consumer properties including Citysearch, Insider Pages and Urbanspoon.

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