Yahoo! makes $270 million deal for interclick
Yahoo! announced Tuesday that it is buying Internet advertising company interclick in a cash deal worth $270 million.
Yahoo! said it was offering $9 per share for the outstanding shares of the New York-based interclick, a 22 percent premium over its closing price on Wall Street on Monday.
Interclick was founded in 2006 and offers technology tools to help marketers conduct targeted online advertising campaigns.
"Interclick's innovative platform will allow Yahoo! to expand its targeting and data capabilities to deliver campaigns with stronger performance metrics," said Ross Levinsohn, Yahoo! executive vice president for the Americas.
"Having worked closely with Yahoo! for the past few years, we have a deep appreciation of the quality of the inventory that Yahoo! brings to market," interclick founder and chief executive Michael Katz said in a statement.
"The combination of Yahoo!'s premium data and inventory with our platforms will create tremendous value for clients," Katz said.
The Sunnyvale, California-based Yahoo! said it expects the transaction, which has been unanimously approved by the board of directors of interclick, to close early next year.
Yahoo! shares were down 4.96 percent at $14.86 on Wall Street while interclick was up 21.15 percent at $8.97.
(c) 2011 AFP
