Tuesday, September 23, 2008

Bankaholic Acquired By Bankrate

San Marino, California-based Bankaholic, an online site providing information about certificates of deposit, savings accounts, and money market accounts, has been acquired by Bankrate, Inc., Bankrate said Tuesday afternoon. Bankrate said paid $12.4M for Bankaholic, with an additional $2.5M in earn-out. Bankrate said that John Wu, the founder and sole employee of Bankaholic, will work with the firm for a specified period of time during the transition. Bankrate is a provider of personal finance informtaion, and operates Bankrate.com, Insureme.com, Interest.com, and other personal finance specific web sites.

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