ValueClick and Fastclick deal opens up web advertising opportunities
16 August 2005
ValueClick and Fastclick deal opens up web advertising opportunities
Online services company ValueClick has announced that it has entered a definitive agreement in which Fastclick would become a wholly-owned subsidiary of ValueClick.
The two California-based web firms have agreed a deal that will see each outstanding share of Fastclick common stock exchanged for 0.7928 of a share of ValueClick common stock.
Fastclick provides online advertising services and technologies, including an advertising network of more than 9,000 third-party websites that reaches over 112 million unique US Internet users.
ValueClick claims that the addition of Fastclick to its suite of services will position it as the largest online advertising network provider and the firm expects to rapidly integrate Fastclick once the deal is closed.
James Zarley, chairman and chief executive officer of ValueClick, said: "The addition of Fastclick should give our ValueClick Media division the industry's largest reach into internet users, enhancing our company's overall leadership position with advertisers and publishers."
Kurt Johnson, chief executive officer of Fastclick, added: "Fastclick and ValueClick are a natural fit, and we look forward to working closely with ValueClick to capitalise on the opportunities ahead of us."
ValueClick estimates that annual cost savings from the transaction will be up to $4 million.
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