TheStreet.com Inc. announced Thursday that it has purchased a stake in the financial aggregation Web site operator Geezeo Inc.
The New York financial news company said that it paid $1.2 million for 13% of Geezeo and that it has an option to buy the rest of the Framingham, Mass., company within the next 12 months, based on a valuation of $12 million.
Geezeo aggregates information about users' bank and credit card accounts, investments, mortgages, student loans, and other financial data and offers tools to help people keep track of their spending habits and set savings goals. It also encourages people to participate in user forums and offer one another advice on personal finance.
TheStreet.com said Geezeo would be incorporated into its network of financial information sites, including its flagship site, Stockpickr.com, and BankingMyWay.com, which provides current rates at various banking companies for products such as certificates of deposit and savings accounts.
Thomas J. Clarke Jr., The-Street.com's chairman and chief executive, said in a press release that "Geezeo is a natural place for visitors to the individual Web sites within TheStreet.com network to connect."
