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DoubleClick to Create Independent Research Division
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28/9/2000
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DoubleClick has entered into a definitive agreement to acquire @plan.inc, a
leading provider of online market research planning systems, in a deal
valued at approximately US$120 million.
@plan, which has historically boasted a greater than 90% client retention
rate, is an industry leader in online target market research. The company
provides over 500 clients including leading Internet advertisers, agencies
and Web publishers with sophisticated online market research decision
support and planning systems.
Upon completion of the merger, @plan’s established research capabilities
will form the foundation for DoubleClick to build a research division,
enabling the company to offer its clients tools that better inform on
advertising and e-commerce decisions. On the other side of the coin,
DoubleClick’s technology infrastructure, resources and international
presence will allow @plan to expand and improve its product line.
Under the terms of the agreement, each @plan stockholder will receive
US$9.25 for each share of @plan common stock. @plan stockholders will
receive 20% of their consideration in cash, and the remainder in DoubleClick
common stock. The transaction is subject to certain conditions, including
regulatory approval and agreement from @plan stockholders, and is expected
to be completed in the fourth quarter of 2000.
According to Kevin Ryan, CEO at DoubleClick, “@plan is one of the industry’s
most respected market research planning companies. This transaction will
allow DoubleClick to bring world class research and objective planning
solutions to the online marketing community. As two industry leaders with a
combined client base of over 6,000 top ad agencies, advertisers and Web
publishers, we are confident we will further be able to build out our client
bases.”
“We are delighted to be joining DoubleClick. The company’s record of
creating innovative technology solutions, coupled with its experienced
management team, makes this transaction a strong combination,” added Mark
Wright, Chairman and CEO, @plan. “Together we will deliver customer driven
solutions that will raise the bar for accountability in advertising decision
making and planning.”
The combined company will be headquartered in New York, whilst @plan will
continue to be based in Connecticut. Mr. Wright will continue to be CEO of
@plan until the merger is finalised, and will serve as a consultant after
the transaction to assist with the transition. Greg Ellis, DoubleClick’s VP
and General Manager of Research, will assume President responsibilities for
@plan.
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