InterActiveCorp (IACI -0.3%) has bought Felix, a provider of local ad services, for a reported...

|By:, SA News Editor

InterActiveCorp (IACI -0.3%) has bought Felix, a provider of local ad services, for a reported price of $30M. Felix, which gets paid by businesses when a "high quality" phone call is made, will be added IAC's CityGrid unit, which owns a stable of local content properties that includes Citysearch and restaurant app developer Urbanspoon. The purchase could be pressuring shares of Yelp (YELP -5.8%), which depends on local businesses for most of its ad revenue.