LiveDeal Buys Online Retailer ModernEveryday.com - Quick Facts

(RTTNews) - LiveDeal, Inc. (LIVE), a provider of online marketing and mobile technology solutions, Wednesday announced that it has acquired online retailer, ModernEveryday.com.

The acquisition, which was completed using a combination of cash, a note, and LiveDeal restricted stock valued at $8 per share, marks the next step in LiveDeal's evolution to become a leading online presence for consumer deals across a variety of verticals, the firm said.

Modern Everyday earned nearly $10 million in revenues last year. The company expects this revenue to significantly increase following an additional infusion of cash into its new division.