B: NetRatings Devours eRatings For $9.6M
B: NetRatings Devours eRatings For $9.6M
May 07, 2002 (Internet.com via COMTEX) -- Internet metrics provider NetRatings,
Inc. continued its shopping spree Tuesday with the purchase of eRatings for $9.6
million.
Under the terms of this new deal, NetRatings has acquired the 80.1 percent of
ACNielsen eRatings.com that it does not already own for 749,341 shares of
NetRatings stock.
NetRatings said it would use eRatings to fully integrate their businesses,
combining operations and consolidating their services under a global brand.
The Milpitas, Calif.-based company, which makes up half of the
Nielsen//Netratings service, has been shelling out the dough as of late. Last
month alone, the company bought DoubleClick 's @plan research business for $18.5
million in cash and stock and shelled out $8.5 million in cash for Jupiter Media
Metrix's AdRelevance group .
Then today, NetRatings settled its patent lawsuit with Jupiter for $15 million
and turned around and bought a European customer list from Jupiter for $2
million.
But just because NetRatings is buying part of ACNielson, don't look for the
Neilson//NetRatings brand to disappear.
Dutch parent company VNU still owns both ACNielsen and Nielsen Media Research
and a majority of the NetRatings shares as well as a control of NetRatings'
board of directors.
"Through our joint venture with ACNielsen eRatings.com, we set the global
standard for Internet audience measurement and analysis," said NetRatings
president and CEO William Pulver. "With this acquisition and integration, we can
work even more closely to better and more efficiently service our clients under
a common brand, unified team, and shared infrastructure."
On a financial basis, NetRating's revenues for the first quarter of 2002 were
$4.3 million, compared with $6.7 million reported in the same period one year
ago. Its pro forma net loss for the first quarter of 2002 was $2.3 million or a
loss of $0.07 per share on approximately 32.9 million weighted shares
outstanding.
The company said its pro forma results exclude amortization of non-cash
stock-based compensation and one-time charges related to the previously
announced restructuring plan and the termination of the Jupiter MediaMetrix and
AC Nielsen eRatings.com acquisitions.
By Michael Singer
URL: internet.com |
