DoubleClick buys Performics

May 17, 2004 at 3:47 PM
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NEW YORK, May 17 (UPI) -- DoubleClick Inc. of New York said Monday it will acquire Performics for $58 million.

Terms of the deal include an earn-out of up to $7 million, for a potential total of $65 million.

The transaction is expected to close by mid-June and is subject to certain closing conditions including Hart-Scott-Rodino antitrust clearance.

DoubleClick is a provider of marketing solutions for advertising agencies, marketers and Web publishers. Performics is a performance-based online marketing services and technology company specializing in search engine marketing and affiliate marketing.

DoubleClick said the deal will benefit its existing client base of marketers, agencies and Web publishers by offering them increased marketing effectiveness through an even more comprehensive suite of marketing solutions.

"Marketers and agencies that use search marketing face the challenge of managing numerous keywords -- sometimes into the thousands -- across multiple search engines. DoubleClick's role in search marketing will be in meeting those needs through scalable keyword trafficking, submission and reporting, as well as efficient bid management," said Kevin Ryan, DoubleClick's chief executive officer.

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