WESTLAKE VILLAGE, Calif., Jun 3, 2003 (BUSINESS WIRE) -- ValueClick, Inc. (Nasdaq: VCLK), a leading provider of
innovative multi-channel media and technology solutions, today
announced that it has acquired Search123.com Inc., a privately-held
pay-per-click search engine company based in Agoura Hills, California.
The acquisition of Search123 will add paid search marketing services
to ValueClick's online media business, and will enable ValueClick to
expand its contextual media products.
Under the terms of the agreement, ValueClick acquired all
outstanding equity interest in Search123 for an aggregate purchase
price of approximately $5 million, including a payment of
approximately $3.3 million in cash plus transaction costs and certain
liabilities. This transaction was structured as a merger, with
Search123 surviving as a wholly-owned subsidiary of ValueClick
following the transaction. Founded in June 1999, Search123 operates a
pay-for-performance search engine business in which advertisers bid
for priority placement on search result pages and pay only when users
click on the advertisers' listings.
"We have been interested in adding search marketing to our
portfolio of digital marketing solutions, and Search123 is a great fit
with our business objectives and a significant step toward completing
our digital marketing solutions set," said James Zarley, chief
executive officer and chairman of ValueClick. "I believe the addition
of Search123 rounds out our array of media offerings and enhances our
position as a single-source provider of media services and
technologies for online marketers. We are excited to welcome Search123
to the ValueClick family."
"We are pleased to be joining ValueClick, a proven leader in the
online advertising industry," added James K. Beriker, president and
chief executive officer of Search123. "We think this is a win-win
deal, as Search123 both broadens ValueClick's product portfolio, and
benefits from ValueClick's online marketing relationships and
financial strength. We look forward to helping ValueClick continue to
succeed in helping marketers achieve their goals."
About ValueClick, Inc.
ValueClick, Inc. offers innovative media and technology solutions
that enable marketers to achieve their multi-channel goals of
acquiring, retaining and growing customer relationships. ValueClick,
Inc. has offices worldwide and drives measurable results for clients
such as Best Buy, Wells Fargo, eBay, and McCann-Erickson. For more
information, please visit www.valueclick.com.
About Search123.com
Based in Agoura Hills, California, Search123.com Inc.
(www.search123.com) is a privately held company that operates a
pay-per-click search engine in which advertisers bid for priority
placement on search result pages and pay only when users click on a
listing. By creating revenue-sharing relationships with its
distribution partners, Search123 drives targeted traffic to its
marketing clients. Search123 is committed to delivering results to its
marketing and distribution partners, and to continually evolving the
business and technology of paid search and performance-based online
marketing.
This release contains forward-looking statements that involve
risks and uncertainties, including trends in online advertising
spending and estimates of future online performance-based advertising.
Actual results may differ materially from the results predicted and
reported results should not be considered an indication of future
performance. Important factors which could cause actual results to
differ materially from those expressed or implied in the
forward-looking statements are detailed under "Risk Factors" and
elsewhere in filings with the Securities and Exchange Commission made
from time to time by ValueClick, including its Annual Report on Form
10-K filed on March 28, 2003, recent quarterly reports on Form 10-Q
and current reports on Form 8-K. Other factors that could cause actual
results to differ materially from those expressed or implied in the
forward-looking statements include the risk that market demand for
online advertising, and performance-based online advertising in
particular, will not grow as rapidly as predicted. ValueClick
undertakes no obligation to release publicly any revisions to any
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated events.
SOURCE: ValueClick, Inc.
ValueClick, Inc.
Gary J. Fuges, 1-818/575-4677
http://www.businesswire.com
