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LOOK > SEC Filings for LOOK > Form 8-K on 6-Sep-2013All Recent SEC Filings

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Form 8-K for LOOKSMART LTD


6-Sep-2013

Completion of Acquisition or Disposition of Assets


Item 2.01 Completion of Acquisition or Disposition of Assets

On September 3, 2013 LOOKSMART CANADA LIMITED, a wholly owned subsidiary of registrant LookSmart, Ltd, was granted court approval by the Ontario Superior Court of Justice [Commerical List] to complete the acquisition of certain assets of Syncapse Corp. ("Syncapse") from its court appointed Receiver MNP Ltd. of Toronto, Ontario. The Acquisition was completed pursuant to a purchase agreement date August 12, 2013 (the "Purchase Agreement"). Under the terms of the Purchase Agreement, the consideration paid was $3.0mm US cash.

Syncapse has conducted a technology-enabled services business that uses social media data to achieve smarter marketing on behalf of Fortune 100 and other companies. Among other assets acquired is an enterprise-level social media management platform used to conduct that business.

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