YellowBrix to acquire iSyndicate

YellowBrix, a provider of customized content for Web sites, on Monday said it signed a deal to acquire iSyndicate, a San Francisco-based company that delivers content to affiliated Web sites. Financial terms of the deal were not disclosed. However, the companies said they expect the acquisition to close within 60 days, subject to iSyndicate completing Chapter 11 bankruptcy proceedings. YellowBrix said its existing investors, led by Soros-backed Quantum Industrial Partners, agreed to finance the cash portion of the acquisition. In February, Alexandria, Va.-based YellowBrix completed its sale of $8 million of Series C preferred stock to Quantum Industrial Partners, a Soros-backed venture fund; ABN AMRO Private Equity; Holland Ventures; and others. The announcement came just a couple weeks after YellowBrix cut its work force in an effort to restructure the company.