CHARLOTTE, N.C., June 20, 2013 /PRNewswire/ -- Tree.com, Inc.
(NASDAQ: TREE) announced today that a subsidiary of Discover
Financial Services (NYSE: DFS) has paid the final $10 million of the purchase price from the sale
of substantially all of the operating assets of the Home Loan
Center, Inc. business. The total purchase price was
$55.9 million. The transaction
closed on June 6, 2012.
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"We're excited to fully complete this transaction which also
signifies our full transition to a focused performance marketing
company," said Doug Lebda, chairman and CEO of Tree.com.
"The additional cash received improves our already favorable
cash position."
About Tree.com, Inc.
Tree.com, Inc. (NASDAQ:
TREE) is the parent of several brands and businesses that
provide information, tools, advice, products and services for
critical transactions in consumers' lives. Our family of
brands includes: LendingTree®, GetSmart®, DegreeTree®,
LendingTreeAutos, DoneRight!®, ServiceTreeSM,
InsuranceTree® and HealthTree. Together, these brands serve as
an ally for consumers who are looking to comparison shop for loans,
education, auto, home services and other services from multiple
businesses and professionals who will compete for their
business.
Tree.com, Inc. is headquartered in Charlotte,
N.C. and maintains operations solely in the United States. For more information, please
visit www.tree.com
SOURCE Tree.com, Inc.