AcquisitionsJul 1, 2026, 04:18 PM
Marchex Completes Archenia Acquisition for $10M in Convertible Notes
AI Summary
Marchex, Inc. announced the completion of its previously-announced acquisition of Archenia, Inc. on July 1, 2026. Archenia is a performance-based marketing technology company specializing in AI-verified customer qualification and acquisition. The consideration for the acquisition included $10 million in 6% convertible promissory notes, payable over 24 months and convertible into Marchex Class B common stock at $1.80 per share. Additionally, up to 4 million Class B common shares may be issued to sellers based on Archenia's future performance and integration targets. The transaction was approved by Marchex stockholders at a special meeting.
Key Highlights
- Marchex completed the acquisition of 100% of Archenia, Inc. on July 1, 2026.
- Archenia is a performance-based marketing technology company leveraging AI for customer qualification.
- Consideration included $10 million in 6% convertible promissory notes issued to sellers.
- Notes are payable in three equal tranches over 24 months and convertible into Class B common stock at $1.80 per share.
- Additional consideration includes up to 4 million Class B common shares based on Archenia's revenue/Adjusted EBITDA and integration targets.
- The acquisition was approved by 99.9% of stockholders under the Simple Majority Vote.
Price Impact
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