Laguna Hills-based Interchange Corp. has made another acquisition to boost its services for local Internet advertising.
The company said Friday it bought local search technology for $500,000 in cash plus about $800,000 in stock, payable upon issuance of a patent for the technology.
Interchange didn’t disclose who the seller is.
The deal is the latest in a series for Interchange.
In March, Interchange paid $700,000 for Pasadena-based Local.com Inc., a Web site that allows people to search for local businesses. Companies pay Local.com to post their services on its site.
Earlier this year, Interchange wrapped up its buy of Inspire Infrastructure 2i AB, a Swedish Internet and wireless local-search technology company. The company paid $15 million in cash and could pay another $7.5 million in stock based on future performance to fund the deal.
Interchange operates a database of some 5,000 direct advertisers. It supplies those listings to 200 Web sites and search engines, which show the advertiser’s name along with the search results.
