CMGI News Just out !!!!!!!!!
ANDOVER, Mass.--(BUSINESS WIRE)--Feb. 1, 1999--CMGI, Inc. (NASDAQ:CMGI - news), today announced that it
has signed a definitive agreement to acquire 2CAN Media, Inc. (http://www.2CANmedia.com). 2CAN Media, the industry's
largest site-focused online advertising representation firm, will join the ADSmart organization under the direction of Chairman
and CEO, John Federman. Ryan Steelberg, currently President and CEO of 2CAN Media, will remain as President of the
newly-combined ADSmart reporting to Mr. Federman.
The transaction includes the 5 sales divisions of 2CAN Media -- Pinnacle Interactive, WebRep, ECG, MediaPlus, and Grupo
NetFuerza -- and creates a combined sales staff of more than 65 professionals in 5 offices nationwide, including Los Angeles,
New York, San Francisco, Chicago, and Detroit.
Adding to its current network, the new ADSmart will represent a growing roster of 135 premier brands, including Smart
Money, Standard & Poor's PersonalWealth, Arthur Frommers Budget Travel, Kiplinger Magazine, National Geographic,
MotorTrend, CitySearch, Entrepreneur Magazine, Teen Magazine, Ladies Home Journal, Better Homes and Gardens Online,
and Raging Bull.
''2CAN Media brings to ADSmart an impressive line-up of web sites, and a proven track record of brand-focused
representation,'' said David Wetherell, Chairman, CMGI. ''The list of sites is also well balanced, with no one site accounting
for more than 12% of their total inventory. The experienced leadership of John Federman and Ryan Steelberg, a roster of top
Web publishers, plus the market-leading profiling and targeting tools of Engage Technologies -- it's a powerful combination that
immediately positions ADSmart as a significant challenger to the market leader.''
''This is a marriage of 2 companies with the same vision for the future: the power of brand is just as important online as it
off-line, and a sales team that truly understands and respects the individual properties of the sites it represents will deliver better
customer service and greater ROI,'' said John Federman, Chairman and CEO, ADSmart. ''Our sponsorship strengths, united
with 2CAN Media's top sites and a combined reach of 650 million monthly impressions, make for a formidable team.''
''Our merger with ADSmart firmly establishes the company as the largest brand sales organization on the Internet,'' said Ryan
Steelberg, CEO and President, 2CAN. ''Coupled with the strategic benefits of a relationship with CMGI, the empowered
ADSmart will set the standard in professional advertising sales, targeting technologies, and innovative marketing solutions for
Internet publishers and advertisers.''
Creates New Divisions to Support Premier Sponsorships and Consultative Selling
Building on the successful sales divisions of 2CAN Media, ADSmart has also announced the creation of 3 new business units.
ADSmart's existing site network will continue under the name ADSmart Brand Sales (ABS), offering online advertising
opportunities in key affinity groups such as Family and Parenting, Business and Finance, and Sports. The current ADSmart
sales team will serve as the platform for the second new division, ADSmart Sponsorships, with a focus on high-return online
sponsorships and promotions. Rounding out the new units is the ADSmart Consulting division, delivering strategic advisory
services to sites both in and out of the network.
About ADSmart
The ADSmart Network (http://www.adsmart.net), a wholly-owned subsidiary of CMGI, Inc., is comprised of more than 135
Web sites and 650 million monthly impressions which provide advertisers and agencies with a large marketplace of highly
targeted sites and varied audiences. ADSmart's key affinity networks, including Generation-X, College, Sports, Travel,
Technology, and Finance/Investing, make it easy for advertisers to effectively and efficiently reach their unique target audience.
ADSmart is headquartered in Andover, MA with over 60 full-time salespeople in the five major advertising markets; New
York, Chicago, Detroit, Los Angeles and San Francisco. |
