Outcome Capital announced that it had acted as exclusive financial advisor to East West Mortgage on the sale of three websites to Bankrate, Inc. (NASDAQ: “RATE”). The Internet sites to be purchased by Bankrate include: Mortgage-calc.com, Mortgagecalc.com and Mortgagemath.com.
“We intend to leverage the consumer traffic generated by these Websites into the Bankrate.com offering within the next week,” said Thomas R. Evans, president and CEO of Bankrate, Inc. “We anticipate that the organic traffic from these sites will help fuel our display and hyperlink ad sales and will be accretive in the near term,” Mr. Evans, added.
About Bankrate, Inc.
Bankrate, Inc. (NASDAQ: “RATE”) (“Bankrate”) owns and operates Bankrate.com, a leading Internet consumer banking marketplace. Bankrate.com is a destination site of personal finance channels, including banking, investing, taxes, debt management and college finance. Bankrate is the leading aggregator of more than 300 financial products, including mortgages, credit cards, new and used auto loans, money market accounts and CDs, checking and ATM fees, home equity loans and online banking fees. Bankrate reviews more than 4,800 financial institutions in 575 markets in 50 states. In 2005, Bankrate.com had over 46 million unique visitors. Bankrate provides financial applications and information to a network of more than 75 partners, including Yahoo! (Nasdaq: “YHOO”), America Online (NYSE: “TWX”), The Wall Street Journal (NYSE: “DJ”) and The New York Times (NYSE: “NYT”). Bankrate’s information is also distributed through more than 400 national and state publications. In addition to Bankrate.com, Bankrate also owns and operates FastFind, an internet lead aggregator and Mortgage Market Information Services, Inc. and Interest.com, Inc., each of which publishes mortgage guides and financial rates and information.
About East West Mortgage
Founded in 1986 with three employees and a dream of offering superior mortgage service at competitive rates to a variety of consumers, East West Mortgage now boasts a talented staff of 400, including the original three. Its diverse and seasoned staff is headquartered in the vibrant Tyson’s Corner, VA area of the metro-DC region. With customer satisfaction and employee retention our top priorities, East West Mortgage survived the turbulent housing markets over the last 19 years to be named Broker Magazine’s 7th largest mortgage broker. East West Mortgage has helped thousands of families find the right solution for their needs. It is able to reach out to a diverse customer base by offering loan services in seven languages, with a strong focus on the Hispanic community. In 2004, East West Mortgage handled more than $1.2 billion in loans.