Mamma has paid $15.9 million US and issued 2.38 million common shares of the company to acquire 100 per cent of the issued and outstanding securities of Copernic, Mamma said. The transaction closed Thursday.
Copernic had $5.9 million US revenue in its fiscal year ended June 30, 2005. Based in Sainte-Foy, Que., it develops search and information management solutions.
Mamma, based in Montreal, is focused on providing quality information retrieval on the Internet through its search engine.