SEATTLE – 24/7 Media Inc. said yesterday it will buy Exactis.com, the nation's
leading opt-in e-mail provider, in a $490 million stock-for-stock transaction expected to gain shareholder approval in second-quarter 2000.
The acquisition will give New York-based online ad network 24/7 Media the ability to expand its e-mail newsletter network to rival the core business. 24/7
Media aims to combine its prospecting database of 21 million addresses with Exactis' 10 million names to deliver more targeted messages.
“With this acquisition, we can now talk to consumers across multiple platforms,” said Michael Rowsom,senior vice president-general manager of 24/7 Media.
“Because 24/7 is a data-centric company, e-mail marketing is the first step for the deployment of database marketing in the electronic segment.”
After this purchase, 24/7 will reach consumers through banners, post, telemarketing, wireless applications, e-mail and broadband.
Exactis currently delivers more than 10 million e-mail marketing and communications each day for clients in e-commerce, media and financial services. Its portfolio of customized solutions allows corporate clients to distribute event-based messages, distribute news and information and manage bulk one-on-one e-mail marketing campaigns.
The Economist, American Express Co., Charles Schwab, Sony Music Entertainment and MSNBC Interactive News are among many companies who are clients of Exactis.
Exactis will maintain its Denver, CO, base and function as a separate subsidiary of 24/7 Media. But its e-mail delivery technologies will merge with 24/7 Connect, 24/7's newly launched ad serving system, and e.merge, 24/7's broadband serving tool.
“By enabling whatever we have on the 24/7 side, Exactis enhances our complete customer retention solution,” Rowsom said.
