Local Corp. signed an agreement with Microsoft Corp. to provide local product data for its search engine, Bing.
The Irvine-based media company specializes in connecting brick-and-mortar businesses with online shoppers via its digital marketing products.
Local’s shares surged as much 23% last week on the news. The company had a recent market value of $45.3 million.
Microsoft will use Local Corp.’s shopping data platform, Krillion, to boost Bing’s local product search results, such as retail locations, product details and availability.
Consumers are increasingly researching purchases on their own before buying, according to a study conducted by Local Corp. and Chicago-based e-tailing group inc.
—Mediha DiMartino
