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AdForce closes shop

Online ad serving company AdForce has dismissed all of its 150 staff members and is winding down operations, according to parent company CMGI. The 7-year-old concern had been in acquisition talks before the board of directors decided to hire outside counsel to liquidate its assets, sources said. David Wetherell, chairman of Internet holding company CMGI, announced AdForce's closure during an earnings call Tuesday. CMGI previously said it wanted to stay out of the ad serving business because of its limited earnings potential. Ad Force, whose clients included Ubid and Artists Direct, is a subsidiary of CMGion, a jointly funded venture between CMGI, Compaq Computer, Novell and Sun Microsystems.

Online ad serving company AdForce has dismissed all of its 150 staff members and is winding down operations, according to parent company CMGI. The 7-year-old concern had been in acquisition talks before the board of directors decided to hire outside counsel to liquidate its assets, sources said. David Wetherell, chairman of Internet holding company CMGI, announced AdForce's closure during an earnings call Tuesday.

CMGI previously said it wanted to stay out of the ad serving business because of its limited earnings potential. Ad Force, whose clients included Ubid and Artists Direct, is a subsidiary of CMGion, a jointly funded venture between CMGI, Compaq Computer, Novell and Sun Microsystems.