@Home Finalizes Narrative Acquisition
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Under terms of the agreement, @Home acquired all outstanding shares and assumed all outstanding options and warrants of Narrative in exchange for 1.35 million shares of @Home common stock.
Narrative's Enliven Business Unit is the focus of the @Home Network's strategic plan. The firm will use the Enliven rich media advertising technology to expand within the advertising marketplace to include narrowband and broadband advertising, the company said.
"This deal is a win-win for both companies," said Charles Moldow, vice president, @Media sales and marketing for @Home. "@Home gains the benefit of access to Narrative's core Enliven technology, services infrastructure, customer base and sales organization which ideally complement our own broadband advertising offerings. Together we will continue the growth and development of Enliven and maintain its leadership as a defining force in the Internet advertising market."
The Enliven Business Unit will maintain Narrative's Waltham, Mass. headquarters and will close its Los Altos offices, moving those employees to @Home's corporate headquarters in Redwood City, Calif.
Earlier in January, @Home displayed its purchasing power by acquiring portal player Excite for $6.7 billion in stock. That deal is expected to close within three months.