ValueClick to Buy Fastclick

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ValueClick Inc. on Thursday agreed to acquire online advertising services company FastClick Inc. for stock valued at about $214 million.


ValueClick, a Westlake Village-based online marketing company, said it would offer 0.7928 of its shares, worth about $10.11 as of Wednesday, for each FastClick share a 14 percent premium to the FastClick’s Wednesday closing price. ValueClick will issue about 15.6 million shares and options in the transaction.


ValueClick said it expects to save about $4 million annually after the merger, which is expected to be completed in the fourth quarter. The transaction has been approved by the directors of each company, but remains subject to the approval of two-thirds of FastClick’s outstanding shares. Santa Barbara-based FastClick went public earlier this year at $12 a share.


The merger will give ValueClick access to Fastclick’s advertising network of more than 9,000 third-party Web sites reaching over 112 million U.S. Internet users. Fastclick will operate as a unit of ValueClick.


ValueClick shares closed down 1.6 percent to $12.55 on Thursday.

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