In the latest of a series of strategic moves to expand its performance-based offerings over the past two quarters, representatives for ValueClick today announced a definitive agreement to acquire Z Media, Inc., a coregistration company based in Redwood City, California, that delivers targeted email subscribers to advertisers and direct marketers. If the deal is consumated, Z Media shareholders will receive approximately 2.7 million shares of ValueClick stock, valued at the time of signing at approximately $11.7 million.

"This is a great addition to our growing family of properties," said Jim Zarley, chairman and chief executive officer for ValueClick. "Z Media's successful coregistration model adds a potent new weapon to ValueClick's arsenal of reliable, targeted, and cost-effective solutions for both marketers and publishers. Because of their strong leadership, prudent financial management, and performance-based model, we found this to be an ideal acquisition for our respective advertiser and publisher clients."

Since going public less than nine months ago, the acquisition marks the fourth company ValueClick has acquired, in addition to opening seven offices in the United States and abroad. Other developments the company has been working on include the introduction of opt-in email marketing services, the introduction of a performance-based wireless advertising network, and improved tracking and accountability through its acquisition of StraightUp! The company has also expanded its performance-based banner advertising options through its acquisition of ClickAgents.com, Inc, and made a move toward customized cost-per-lead and cost-per-acquisition through its acquisition of onResponse.com.

The Z Media coregistration model, which uses opt-in check boxes for email newsletters customized to the individual's interests, has become an efficient method for marketers to attract new customers and for web publishers to develop a powerful revenue stream. Z Media currently has approximately 4,000 web site publishers in its coregistration network. Its own corporate web site is ranked as one of the Top 50 Internet sites in terms of unique user reach, according to Media Metrix.

Z Media's chief executive officer, Alan Stein, will hold the title of president of Z Media after the acquisition.

"These are challenging times for the online advertising industry," said Stein. "Savvy marketers and both dot-com and traditional firms are now demanding reliability and accountability as mandatory requirements for their online advertising efforts. At the same time, they also want a variety of different approaches to achieve online advertising success. Together, Z Media and the other ValueClick companies worldwide will be able to deliver a varied suite of effective solutions for advertisers and publishers to achieve their goals and improve their bottom-line results."

ValueClick is based in Westlake Village, California.

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