Bazaarvoice Enters Into LOI With Viewpoints To Sell PowerReviews Business

(RTTNews) - Bazaarvoice, Inc. (BV) and Viewpoints, LLC said Tuesday that they have 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.

Specific terms of the proposed agreement were not disclosed.

The proposed deal is subject to approval by the U.S. District Court for the Northern District of California and customary closing conditions, including completion of due diligence, negotiation, and execution of a definitive agreement. The sale is expected to be completed within the first quarter of Bazaarvoice's 2015 fiscal year.