AdLINK Shareholders Approve Purchase of DoubleClick European UnitGerman online advertising and marketing firm AdLINK Internet Media AG's shareholders have approved a plan to buy DoubleClick Inc.'s European media operations for 30.5 million euros, or $26.9 million, in cash.
Under the deal, United Internet AG, AdLINK's parent, has the option to sell 15 percent of AdLINK's shares to DoubleClick for 35.5 million euros, or just over $32 million. Once that option is exercised, DoubleClick has the option to acquire an additional 21 percent of AdLINK stock from United Internet for no additional cost.
United Internet said it will make a public purchase offer to the remaining AdLINK shareholders to buy 37.13 percent of the remaining shares at 3.83 euros, or $3.46, per share.
AdLINK also signed an exclusive 10-year deal to use DoubleClick's DART ad serving platform. The company previously used Engage Inc.'s ad serving technology.
DoubleClick said the deal with AdLINK allows for cross-selling of both companies' inventory on each other's networks. The companies also will make their respective e-mail technologies available to each other's clients.
AdLINK said that the purchase of DoubleClick's European media business makes it Europe's largest independent provider of digital marketing and advertising services with offices in 12 countries. The reciprocal agreement with DoubleClick also provides AdLINK with access to the U.S. online advertising market.