Tuesday, November 3, 2015
United Online Puts StayFriends On The Block
Woodland Hills-based United Online said Tuesday that it has hired an investment banker to sell its European social networking website, StayFriends. According to United Online, StayFriends is "not aligned" with its long term objective to return the company to growth, so its has engaged ACXIT Capital Management to find a potential buyer for the unit. United Online also says that, as part of those efforts, it has also hired JMP Securities LLC to help it with M&A efforts, as it looks in the area of commerce and loyalty for growth. United Online did not say how much it is hoping to get for StayFriends. The company recently sold its Classmates unit as part of a similar move to divest non-growing assets at the company.