Bazaarvoice Closes Sale Of PowerReviews To Viewpoints

(RTTNews) - Bazaarvoice, Inc. (BV) said Wednesday that it has completed the sale of PowerReviews, LLC, the successor to PowerReviews, Inc., to Wavetable Labs, LLC, the parent company of Viewpoints, LLC, for $30 million.

Under the terms of the merger agreement, $4.5 million will be held in escrow for twelve months to satisfy any indemnification claims that may arise.

In April, Bazaarvoice entered into a non-binding letter of intent whereby Viewpoints would acquire the Bazaarvoice subsidiary that holds substantially all assets associated with Bazaarvoice's June 2012 acquisition of PowerReviews.