ValueClick Inc., Westlake Village, CA, said this week that it would acquire co-registration services provider Z Media Inc., Redwood City, CA, for $11.7 million in stock.
Under terms of the agreement announced Monday, Z Media shareholders will receive nearly 2.7 million shares of ValueClick stock, worth nearly $12 million at the time the deal was announced. Z Media's outstanding employee stock options will be converted to options to buy nearly 457,000 shares of ValueClick common stock, the company said.
This is the fourth company that ValueClick, a provider of performance-based Internet advertising, has acquired since it went public about nine months ago. The company recently bought online ad agency ClickAgents.com, measurement firm StraightUp and online affiliate ad firm onResponse.com.
Z Media offers marketers co-registration services, which use opt-in check boxes for e-mail newsletters that are customized to an individual's interests. The company said it has 4,000 Web site publishers in its network.
ValueClick said the acquisition of Z Media complements its recent introduction of opt-in e-mail services.