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Canadian publisher Yellow Pages Group announced this mornings that it will acquire Classified Media Holdings (Trader Canada) for C$760 million. You can read the release here.

The deal expands YPG’s classified footprint nationally following last year’s acquisition of Trader Media Corp. It also demonstrates how serious YPG is about pursuing a strategy that stretches the definition of directional media to include directory content as well as vertical and classified content. This helps YPG acquire the broadest possible customer base and a robust set of deep Yellow Pages content.

Here is how the company announcement sums up the deal:

Management considers vertical media to be complementary to directories given the similarity in the business models, local content, direct contact with customers, and the offering of print publications and web sites. The combination and integration of Trader Canada with TMC is expected to generate recurring operational synergies through the sharing of best practices. In addition, the acquisition should provide cross-selling opportunities and accelerate the momentum in the Company's online expansion, among other benefits.

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