Bankrate Misses Estimates, but Lifts Outlook

Bankrate (RATE Quote) said its net income for the fourth quarter increased 5% from a year earlier, but the company's adjusted per-share results fell short of Wall Street's estimates.

Simultaneously, Bankrate said it has bought the assets of two companies, InsureMe, of Englewood, Colo., and Lower Fees, of Westlake Village, Calif.

InsureMe operates a Web site and a network of affiliates that offer consumers insurance rates for auto, home, life, health and long-term care. The purchase price was $65 million. Lower Fees operates feedisclosure.com, a site that provides data on mortgage transactions and closing fees. Those assets were acquired for $2.85 million. Bankrate could pay additional cash in both cases if certain targets are met. ...