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Technology Stocks : DoubleClick Inc (DCLK)
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To: GalSal who wrote (2506)7/13/1999 12:10:00 PM
From: Tae Spam Kim  Read Replies (1) of 2902
 
Doubleclick Acquires NetGravity? - 11:59 AM EST - TK
Acquisitions are the rage today, as Doubleclick announced it will try to acquire NetGravity for $530 million in stock. "Try" is the operative word as this may raise anti-trust concerns from the government. Doubleclick is the leading internet advertising firm and Net Gravity is one of its main competitors.

In a bid to dominate Internet advertising, DoubleClick hopes the stock-for-stock transaction will help reach both companies' goals of providing the broadest possible infrastructure for ad management, data solutions, and media sales for Internet publishers, advertisers, and merchants. Just last month, DoubleClick acquired market research firm Abacus Direct for $1 billion. DoubleClick provides global Internet advertising solutions for marketers and Web publishers, while NetGravity provides interactive online advertising and direct marketing software solutions. Under the terms of the merger agreement between the two companies, DoubleClick will issue 0.28 shares of DoubleClick common stock for each share of NetGravity common stock. Based on yesterday's closing prices, the exchange ratio represents a per share price of $26.32--a 26 percent premium over NetGravity's 30-day average stock price. - News.com
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