Bankrate (RATE) to be acquired by Red Ventures for $14.00 per share

    

Bankrate was acquired by Red Ventures for $1.24 billion in November, 2017.

• In September 2018, the former chief financial officer Edward J. DiMaria was found guilty of committing accounting and securities fraud which led to over $25 million in shareholder losses. DiMaria was sentenced to 10 years in prison, and ordered to pay $21,234,214 in restitution. Former vice president of finance Hyunjin Lerner also pleaded guilty for his role in the conspiracy and was sentenced to 5 years in prison.

  

Red Ventures LLC, a privately-owned marketing company, said Monday it has agreed to buy personal finance website operator Bankrate Inc. in a $1.24 billion all-cash deal, as it seeks to expand its presence in the financial-services industry.

Bankrate shareholders will receive $14 per share, representing a 9 percent premium to the stock's Friday closing.

The deal has an enterprise value of $1.4 billion.