Engage to Acquire AdKnowledge
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Continuing to gobble up Internet advertising companies, CMGI Inc.'s Engage Technologies said it will acquire AdKnowledge, a provider of Web marketing management solutions, in a stock deal valued at approximately $193 million.
On Monday of this week, CMGI announced a deal to acquire ad serving company AdForce in a $500 million stock deal.
"AdKnowledge and Engage are uniquely complementary and share the same objective -- to improve the effectiveness of online marketing," said Scott Kauffman, CEO of AdKnowledge.
CMGI said the combination of Engage, AdKnowledge and Engage's I/PRO products and services will position Engage as a "leading provider of data analysis to marketers and agencies."
CMGI will initially acquire control of AdKnowledge through the issuance of approximately $170 million of CMGI common stock, followed by a contribution of AdKnowledge shares held by CMGI and AdKnowledge shareholders to Engage in exchange for approximately $193 million of Engage common stock.
AdKnowledge, which is privately held, will become a wholly owned subsidiary of Engage.
AdKnowledge clients include SportsLine, eBay, eToys and agencies Organic and i-Traffic.
"We are excited about the opportunity to add value to these relationships by incorporating profile based ad targeting into AdKnowledge's extensive services," said Paul Schaut, president and CEO of Engage.