Adding Value to ValueClick
Dec 19, 2000, 1:46 PM
ValueClick, Inc., a provider of performance-based online advertising solutions, today announced that it has signed a definitive agreement to acquire Z Media, Inc., a leading co-registration company that provides highly qualified email subscribers to advertisers and direct marketers. Under the terms of the agreement, Z Media shareholders will receive approximately 2.7 million shares of ValueClick stock, valued at the time of signing at approximately $11.7 million. Z Media's outstanding employee stock options will convert to options to purchase approximately 457,000 shares of ValueClick common stock. The acquisition, the latest in a series of strategic moves that ValueClick has made to expand its performance-based offerings over the past two quarters, is expected to be accounted for as a pooling of interests, and is anticipated to be accretive in value to existing ValueClick shareholders.