TheStreet.com makes an acquisition

TheStreet.com has acquired Bankers Financial Products, which owns BankingMyWay and RateWatch, and is one of the nation’s largest providers of information about banks and credit unions, according to a story on its web site. The purchase price was $25 million.

The story stated, “‘Adding BankingMyWay to our network is another step toward becoming the premier destination for multimedia content pertaining to all areas where money and life intersect,’ said Thomas J. Clarke Jr., chairman and CEO of TheStreet.com.

“Larry Starkweather, founder and president of RateWatch and BankingMyWay.com, added that joining the TheStreet.com network would draw attention to the best deals offered by RateWatch’s banking clientele in thousands of communities throughout the U.S. ‘Whether they are offering special CD rates, attractive mortgage loans or competitive auto loans, we help our consumers get the best rates, while helping our advertisers gain new customers,’ Starkweather said.

“On a conference call discussing the deal, TheStreet.com CFO Eric Ashman said this deal should help accelerate 2008 advertising growth. He added that the company intends to leverage the new infrastructure across the network of sites.”

Read more here.