Accrue to Acquire Marketwave for About $70 Million
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Under terms of the deal, Marketwave will become a subsidiary of Accrue (ACRU). Marketwave's outstanding stock will be exchanged for approximately 3.5 million shares of Accrue common stock, which closed Tuesday at $20.
The two companies will combine to provide a comprehensive suite of traffic analysis tools for intranets and Internet sites.
"We saw tremendous synergy between Marketwave's technology and expertise and our own. By combining the two companies, Accrue will be a more powerful player in the Web site eBusiness analysis market," said Richard Kreysar, president and CEO of Accrue.
Marketwave brings a customer base that includes Ask Jeeves, Broadcast.com, Buy.com, Citibank, Compaq, Dell, Egghead.com, IBM, and Shopping.com. Accrue customers include Oracle, Preview Travel, Hearst New Media, Bank of America, ShopNow.com and TheStreet.com.
Marketwave's Seattle location will become another Accrue facility, focusing on the Hit List solutions, while Accrue Insight will continue to be supported and developed in California.
Marketwave's Hit List Live 4.0 is an enterprise-class Windows NT analysis program that uses a proprietary technology called DataLink to integrate Web traffic with traditional business data such as accounting and sales databases, allowing site operators to see real ROI data and track how changes in visitors' demographics and psychographics affect browsing and purchasing behavior.
Accrue's flagship product, Accrue Insight, is a scalable application that enables e-business managers to make marketing and merchandising decisions that increase their effectiveness in attracting new customers, increasing sales and maintaining customer loyalty. The competition includes net.Genesis and others.