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Thursday, May 26, 2022

ReachLocal Buys Out Australian Partner

ReachLocal Inc., an online marketing company, secured the unowned interest in ReachLocal Australia from its joint venture partner, Netus Pty Ltd, an Australian venture capital company backed by News Corporation. The Woodland Hills-based company is now sole owner of all of its international operations, which includes operations in Canada, the United Kingdom and Australia. ReachLocal formed the joint venture with Netus Pty Ltd in December 2006 to establish its first international market. That company followed that venture with launching wholly owned international operations in the United Kingdom and Canada in 2008. ReachLocal Australia is one of the top Google AdWords & #153; and Yahoo! & #381; search advertising resellers in Australia, and has achieved more than 160 percent year-over-year revenue growth. It is headquartered in Sydney with offices in Melbourne and Brisbane.

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