DoubleClick, an Internet marketing services company, says it has completed its acquisition of e-mail marketer MessageMedia in a stock deal valued at nearly $13 million. The deal gives DoubleClick an ace in the e-mail marketing industry, thanks to its previous acquisition of FloNetworks and a concentrated effort to build its direct e-mail business over the last 18 months. "E-mail is a key initiative for DoubleClick in 2002 and the capabilities of MessageMedia will add to our suite of solutions," Court Cunningham, a DoubleClick executive, said in a statement.
Under the deal, DoubleClick will issue one million shares of common stock to MessageMedia shareholders at a value of $12.51 per share based on their closing price Jan. 17.
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Discuss: DoubleClick finalizes MessageMedia buy
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