CMGI Takes Controlling Stake in European Ad Firm
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Financial terms of the deal were not disclosed.
CMGI, whose advertising-related investments include Engage, Flycast, yesmail.com, and AdSmart, intends to merge ADTECH with another of its companies, AdForce. CMGI bought AdForce in September for $500 million in stock.
The deal would make ADTECH the European arm of AdForce, which currently has offices in the US and Hong Kong. The soon-to-be-merged companies have been working together for the past two years.
"The transaction folds the growth that ADTECH has achieved through licensing AdForce's ad serving technology into the CMGI and @Ventures network and enables us to leverage their international reach, customers, and partnerships."
ADTECH is the first international acquisition CMGI has made, although its companies opened divisions in Europe in the past two years. Engage operates offices in the UK and Germany, and its subsidiary, I/PRO, runs a European arm.