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| MOVE > SEC Filings for MOVE > Form 8-K on 4-Sep-2012 | All Recent SEC Filings |
4-Sep-2012
Entry into a Material Definitive Agreement, Completion of Acquisition or Disposition of
On September 1, 2012, Move, Inc. (the "Company"), through its subsidiary, Move Sales, Inc. ("Move") entered into an agreement (the "Asset Purchase Agreement") with Tiger Lead Solutions, LLC (the "Seller") whereby Move purchased substantially all of the operating assets of the Seller's business, and assumed various related obligations, for a purchase price of $22 million, $3 million of which was paid into escrow for a one-to-two year period to secure certain obligations of Seller. The Company was also a party to the Asset Purchase Agreement as a guarantor of the obligations of Move. The purchased assets include technology, databases, customer contracts, trademarks, vendor agreements and other assets used in the operation of Seller's TigerLead business and focused on helping real estate professionals leverage the Internet to obtain, cultivate and manage homeseller and homebuyer leads and convert them into home sales and purchases. Pursuant to the Asset Purchase Agreement, which includes various and customary representations, warranties and covenants by the parties, Move agreed to offer to hire all or substantially all of the Seller's current employees.
The foregoing summary is qualified in its entirety by the full text of the Asset Purchase Agreement attached as Exhibit 2.1 to this current report.
On September 1, 2012, the Company, through its subsidiary, Move, completed the asset-acquisition transaction described in Item 1.01, above, pursuant to the Asset Purchase Agreement. The information disclosed in Item 1.01 of this current report is hereby incorporated by reference into this Item 2.01.
On September 4, 2012, the Company issued a press release announcing the entry and completion of the asset-acquisition transaction described in Item 1.01, above, pursuant to the Asset Purchase Agreement. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by this reference.
(d) Exhibits
2.1 Asset Purchase Agreement entered into on September 1, 2012, by and among Tiger Lead Solutions, LLC, Move Sales, Inc. and Move, Inc.
99.1 Press Release of Move, Inc., dated September 4, 2012.
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