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ValueClick buys Web search marketer

Digital marketing company ValueClick on Tuesday bought commercial search provider for about $5 million in cash and fees, marking further consolidation in the Web navigation industry. ValueClick, which operates an ad network, said it bought the Agoura Hills, Calif.-based privately held company in order to expand its online media services with pay-per-click search-engine advertising.

Under the deal terms, Westlake Village, Calif.-based ValueClick bought all outstanding equity interest in Search123 for $3.3 million in cash and another $1.7 in transaction costs and certain liabilities. But the transaction was structured as a merger so that Search123 will remain a wholly owned subsidiary.