DoubleClick Inc. earlier today announced plans to acquire e-mail list manager and broker NetCreations Inc. in a stock swap valued at $191 million.
The two New York-based companies said the deal would create the industry’s largest e-mail list management firm with 22 million e-mail addresses. The combined e-mail database will consist of both single and double opt-in names.
Under the terms of the definitive agreement, Internet ad firm DoubleClick will issue 0.41 shares of DoubleClick common stock for each share of NetCreations common stock. Based on Oct. 2, closing prices, the exchange ratio represents a per share price of $12.15 and a 17 percent premium over NetCreations’ 10-day average stock price, according to today’s announcement.
The deal is subject to regulatory and shareholder approval and is expected to close by the fourth quarter 2000.