IAC's ServiceMagic Invests In Zip Express Installation, Adding Electronics To Local Offerings

This story was written by Staci D. Kramer.
IAC's ServiceMagic.com disclosed today a strategic investment in Minneapolis-based Zip Express Installation, a company that specializes in quick-turnaround installations of consumer or commercial electronics. The move adds electronics to ServiceMagic.com's U.S. online referral service for homeowners. IAC (NSDQ: IACI) isn't disclosing the investment amount but I was told the "relatively small" amount is in line with the current strategy of looking for "tuck-in" investments that fit with an existing business and have low upfront costs. 

ServiceMagic launched a European business last month with a majority investment in The Koening Company and the acquisition of French home improvement site Travaux.com from Groupe CyberArchi. ServiceMaster Europe includes 123Devis.com, a French lead gen business for tradespeople and 123GetAQuote.co.uk, a UK lead gen site.

By Staci D. Kramer

Popular on CBS News


Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.

Watch Now

New Android App

For your Android phone and tablet, download the FREE redesigned app, featuring CBSN, live 24/7 news.