LendingTree to buy credit service firm for $20.75M

|By:, SA News Editor

LendingTree (NASDAQ:TREE) agrees to buy Ovation Credit Services, a firm that uses a proprietary software application to facilitate the credit repair process and is integrated directly with some credit bureaus.

Price consists of $12M cash at closing with contingent payments up to $8.75M.

Deal is expected to close in Q2 of this year.

Source: Press Release

Previously: Tree.com misses by $0.02, beats on revenue (April 26)

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