NetCreations Shareholders Approve SEAT Pagine Gialle Acquisition
The transaction, accomplished through a merger with Sogerim S.A., an affiliate of SEAT Pagine Gialle, was approved at a special meeting of NetCreations' shareholders. As a result of the merger, NetCreations shares have been converted into the right to receive $7 in cash per share from the acquirer.
NetCreations, New York, became a private company Friday, and its stock will no longer be traded on the Nasdaq stock exchange.
"Our acquisition of NetCreations is consistent with our international strategy to become a leading provider of business-to-consumer marketing information," Lorenzo Pellicioli, CEO of SEAT Pagine Gialle, said in a statement.
SEAT Pagine Gialle recently acquired a majority stake in France's Consodata, a provider of business-to-consumer marketing information and e-mail marketing services.
NetCreations said Rosalind Resnick, its CEO, will retain her position.