ValueClick Acquires Search Marketing Company Search123
Westlake Village, CA ? June 03, 2003 ? ValueClick, Inc. (Nasdaq: VCLK), a leading provider of innovative multi-channel media and technology solutions, today announced that it has acquired Search123.com Inc., a privately held pay-per-click search engine company based in Agoura Hills, California. The acquisition of Search123 will add paid search marketing services to ValueClick?s online media business and will enable ValueClick to expand its contextual media products.
Under the terms of the agreement, ValueClick acquired all outstanding equity interest in Search123 for an aggregate purchase price of approximately $5 million, including a payment of approximately $3.3 million in cash plus transaction costs and certain liabilities. This transaction was structured as a merger, with Search123 surviving as a wholly-owned subsidiary of ValueClick following the transaction. Founded in June 1999, Search123 operates a pay-for-performance search engine business in which advertisers bid for priority placement on search result pages and pay only when users click on the advertisers? listings.
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