ValueClick Sells Search123

Westlake Village-based ValueClick has divested Search213, the company's European, self-service, paid search business, the company said today. According to ValueClick, it sold Search123 to its former executive in charge of European operations, Carl White. Financial terms of the deal were not disclosed, however, ValueClick said the deal consists of future contingent payments based upon the performance of the business over the next four years. ValueClick said that Search123 had revenues of $31.4M in its 2011 fiscal year. In explaining the sale, ValueClick said that Search123 has been "a small business" for the company and does not fit with its long-term strategy.