Bazaarvoice Reviews Options, Prepares to Divest PowerReviews Business
Turns out technology acquisitions don't always have a happily ever after.
In a story that involves the Department of Justice, it was announced on April 8 that Bazaarvoice has entered into a letter of intent with Viewpoints to divest its PowerReviews business.
"Since the district court issued its ruling in favor of the Department of Justice, we have been engaged in a thoughtful process to identify and reach agreement with an appropriate entity to which we could divest the PowerReviews business consistent with the Court's decision and views expressed by the DOJ," said Gene Austin, CEO and president, Bazaarvoice. "Viewpoints is an established, committed ratings and reviews provider with experience serving both the consumer and business markets. After a thorough assessment, we believe this divestiture proposal achieves the best possible outcome for our clients, shareholders, and employees."
For those not following along with the story, we'll let a lawyer fill you in.