One of the biggest names in the fields of classified and advertisements, Yellow Pages, has reportedly acquire the Canadian firm, Canadian Phone Directories Holdings, which is also known as Canpages for a total sum of $225 million. Canpages is a Canadian local search and directories publisher. The private equity firm, HM Capital Partners along with other investors have agreed to sell Canpages to Yellow Media, which is the owner if Yellow Pages Group.

Canpages, which has its headquarters in Vancouver, Canada is known to publish about 84 directories including local and nation listings, that accumulates to a pretty impressive 8 million copies. The company is known to generate $110 million in annual revenue and its website counts for more than 3.5 million unique visitors. The website itself aggregates about 23% of the total annual revenue each year with a total workforce of nearly 700 employees across Canada.

The transaction calls for the Yellow Media to pay $75 million in cash at the closing of the agreement and this amount will be used clear out any and all outstanding obligations, inclusive of debt. Furthermore, $150 million will be issued by Yellow Media in the form of Mandatory Exchangeable Promissory Notes.

Via TechCrunch