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ReachLocal Acquires New Zealand Distributor

Shares of ReachLocal Inc. jumped Monday after the company announced its acquisition of the small-business division of SureFire Search Limited, the exclusive distributor of ReachLocal products in New Zealand. The Woodland Hills company, which provides online marketing services for small businesses, started working with SurfeFire in 2011. Originally a search engine optimization firm, SureFire used its sales force to sell ReachLocal’s advertising and other marketing services to local companies. ReachLocal Chief Executive Josh Claman said Surefire proved a good strategic partner. “At their current size, it makes good sense to integrate their operations into the rest of our international businesses,” he said in a statement. “We’re excited to take this opportunity to further our expansion in the New Zealand market.” Shares of ReachLocal closed Monday up 76 cents or nearly 8 percent to $10.65 in trading on the Nasdaq.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.
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