HOUSTON - (BUSINESS WIRE) – June 07, 2007 – Executives at WhiteFence (www.WhiteFence.com), the nation's leading online comparison-shopping marketplace for residential home services, announced today that the company has acquired competitor ConnectUtilities (www.ConnectUtilities.com). Beginning immediately, WhiteFence will integrate ConnectUtilities into its growing family of Web sites.
Both WhiteFence and ConnectUtilities offer the 110 million U.S. households the opportunity to compare pricing and order service plans for a variety of residential home services, including home telephone, high-speed Internet, natural gas and cable television, among others.
"While our strategy has been to grow WhiteFence organically, we're excited to take this next step and acquire ConnectUtilities," stated WhiteFence chief executive officer Eric Danziger. "Through this acquisition, we are able to grow our channel partner relationships, technology infrastructure and customer base as we further expand our national footprint."
ConnectUtilities, also founded in 2000, provides full-service utility connections online, while at the same time offering up-to-date promotions and cost saving opportunities.
WhiteFence recently completed its second round of funding, having raised $14 million led by new investor Adams Street Partners, in addition to Internet Capital Group, Inc. (NASDAQ:ICGE - News), who led the company's first round of funding in 2005. |