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Feb. 11, 2016 5:24 p.m. ET

Yodle Inc., an online advertising company that filed for an initial public offering in July 2014 but didn't go public, agreed to be sold to Web.com Group Inc., WEB -0.98 % which provides services including Web hosting, marketing and social media.

Web.com will pay $300 million at closing, followed by payments of $20 million and $22 million at the first and second anniversaries of the closing date.

Jacksonville, Fla.-based Web.com, which reported 2015 revenue of $543.5 million on Thursday, said Yodle's revenue is more than $200 million.

The deal will add "higher growth revenue streams" and is expected to increase earnings excluding items within the first year. Closing is expected by the end of the first quarter.

New York-based Yodle, which focuses on small businesses, has about 1,400 employees and 58,000 subscribers. Its investors have included Jafco Ventures, Bessemer Venture Partners and Draper Fisher Jurvetson.

Yodle's offerings include search engine optimization, email marketing and the creation of websites and Faceobook pages.

Web.com was founded in 1997 as Atlantic Teleservices. At the time of its 2005 IPO, it was called Website Pros Inc. Its acquisitions over the years have included domain-name registrar Network Solutions.

Web.com said it swung to a fourth-quarter profit of $77 million, or $1.48 a share, from a loss of $9.4 million, or 17 cents a share, a year earlier. Revenue for the quarter rose to $138.3 million from $134.5 million.

Earnings excluding items were 66 cents a share, exceeding its guidance of 62 cents to 64 cents.

Write to Josh Beckerman at josh.beckerman@wsj.com

Source: Web.com to Buy Online-Advertising Firm Yodle