DoubleClick Sells European Media Sales To AdLink

  • November 13, 2001
DoubleClick Inc. is selling its losing European media sales business to German rival AdLink Internet Media AG in a cash deal valued at 30.5 million euros ($27.09 million). DoubleClick, which has been hit hard by the dramatic downturn in online advertising, has pledged it will post a pre-tax profit in 2002. The sale of its European media sales business is expected to help it achieve that goal as the online ad market appears to worsen. In a statement, DoubleClick CEO Kevin Ryan said the deal allows DoubleClick to focus on licensing its higher-margin ad-serving technology business to advertisers in Europe. The companies said DoubleClick and Adlink would work together, promoting one another's ad-selling technologies and services around the globe. -- Adam Bernard

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