DoubleClick To Deliver Over 700 Million Emails Per Month For Over 500 Leading Marketers
Acquisition Adds Software Solution to DoubleClick`s eMail Product Suite
New York and Louisville, Colorado -- (June 1, 2001) - DoubleClick Inc.
(Nasdaq: DCLK), the leading digital marketing solutions company, and
MessageMedia, Inc. (Nasdaq: MESG), a provider of permission-based, email
marketing and messaging solutions, today announced that they have
entered into a definitive agreement for DoubleClick to acquire
MessageMedia in a common stock transaction valued at approximately $41
million. The acquisition will broaden DoubleClick`s client base as well
as provide the company with a licensed software solution.
MessageMedia provides marketers with a variety of email marketing
solutions and services, including its M3Platform, a full service
e-messaging solution, and UnityMail 4.0, an award-winning licensed
software. MessageMedia`s e-messaging solutions deliver over 100 million
emails per month for more than 310 leading marketers including Cisco,
E*Trade, Columbia House, Intuit, Starwood Hotels, Fleet Boston
Financial, and Bluelight.com. DoubleClick currently delivers over 600
million emails per month for over 240 clients including Procter &
Gamble, J.Crew, The Wall Street Journal Online, and Virgin
MegaStores.com.
Under the terms of the acquisition, DoubleClick will issue 0.0436 of a
share of DoubleClick common stock for each share of MessageMedia common
stock. Based on DoubleClick`s 10-day average closing stock price ending
May 31, 2001, the exchange ratio represents a per share price of $0.60,
a 42% premium over MessageMedia`s 10-day average closing stock price.
The transaction, which will be accounted for as a purchase, is subject
to certain conditions, including MessageMedia stockholder approval. The
transaction is expected to close in the third quarter of 2001.
As a result of this transaction, DoubleClick will be able to provide
customers with a full range of solutions including full service and
self-service outsourced email technology, a software solution, and
consulting services. In addition, MessageMedia`s experience in Europe
will assist with DoubleClick`s expansion into the European email space.
DoubleClick plans to continue to support the M3Platform for the
foreseeable future and, over time, will integrate that platform with its
DARTmail and FloNetwork technologies.
"This acquisition reinforces our commitment to deliver flexible email
marketing solutions to our global customer base," said Court Cunningham,
Vice President and General Manager of DARTmail Technology, DoubleClick.
"With this acquisition, we will expand our customer base to over 500
leading direct marketers and increase the number of personalized emails
delivered to over 700 million per month."
"DoubleClick`s commitment to developing the most robust email marketing
solutions in the market, coupled with their strong financial position,
make this transaction a strategic fit for MessageMedia," said Larry
Jones, President and CEO of MessageMedia. "Together we will be able to
provide a suite of solutions that deliver highly integrated,
cost-effective email campaigns for businesses that want to enhance the
level of their customer communications."
This acquisition builds on DoubleClick`s position as the leading email
technology provider. In April, DoubleClick closed its acquisition of
FloNetwork, a Toronto-based, email marketing technology provider.
DoubleClick`s suite of email marketing products combines the power of
email and permission-based marketing to provide powerful, integrated
solutions to help online marketers and publishers develop profitable
lifetime customer relationships. Currently, DoubleClick`s eMail suite
includes both the DARTmail and FloNetwork delivery platforms, as well as
DoubleClick eMail List Services, which helps list owners monetize their
opt-in email names and helps list renters find and target the most
responsive prospects for their email marketing efforts.
About DoubleClick Inc.
DoubleClick is building the infrastructure that makes marketing work in
the digital world. Combining media, data, research and technological
expertise, DoubleClick allows marketers to deliver the right message, to
the right person, at the right time, while helping Web publishers
maximize their revenue and build their business online. DoubleClick Inc.
has Global headquarters in New York City and maintains 37 offices around
the world.
About MessageMedia, Inc.
MessageMedia, Inc. a leader in permission-based email marketing and
messaging solutions, offers M3Platform, a powerful customer-centric
e-messaging platform that fully integrates MessageMedia`s outsourced
solutions into a common architecture, and UnityMail 4.0 an award-winning
licensed software. MessageMedia provides specialized solutions for the
publishing, ISP/portal, retail/e-tail, financial services, high-tech,
and travel and entertainment industries.
###
Contact Information:
Jennifer Blum (Press)
DoubleClick
212.381.5705
jblum@doubleclick.net
Glenn Robertson (Investors)
DoubleClick
212.683.0001
grobertson@doubleclick.net
Richard Hurwitz
MessageMedia, Inc.
303.381.7500
investor@messagemedia.com
DoubleClick Forward Looking Statement:
This press release includes forward-looking statements, including future
plans. The results or events predicted in these statements may vary
materially from actual future events or results. Factors that could
cause actual events or results to differ from anticipated events or
results include: losses of significant customers, customer performance
challenges, intense competition in our industry, failure to manage the
integration of acquired companies, lack of growth in digital marketing,
changes in government regulation and other factors that are contained in
documents filed by DoubleClick with the Securities and Exchange
Commission, including our most recent reports on Form 10-K and Form
10-Q. Also, it is DoubleClick`s policy to provide such forward-looking
information at least once per quarter, but we may choose to not update
that information until the next quarter even if circumstances change.
Message Media Forward Looking Statement:
This press release includes forward-looking statements, including
statements regarding the benefits of the transaction to MessageMedia and
its shareholders. The results or events predicted in these statements
may vary materially from actual future events or results. Since the
transaction is subject to certain closing conditions, there is a risk
that the transaction will not close. Other factors that could cause
actual results or events to vary from expectations are contained in
documents filed by Message Media with the Securities and Exchange
Commission, including both Message Media`s and DoubleClick`s most recent
reports on Form 10-K and Form 10-Q.
Additional Information and Where to Find It:
It is expected that DoubleClick will file a Registration Statement on
Form S-4 with the Securities and Exchange Commission and MessageMedia
will file a proxy statement with the SEC in connection with the merger,
and that DoubleClick and MessageMedia will mail a Proxy
Statement/Prospectus to stockholders of MessageMedia containing
information about the merger. Investors and security holders are urged
to read the Registration Statement and the Proxy Statement/Prospectus
carefully when they are available. The Registration Statement and the
Proxy Statement/Prospectus will contain important information about
DoubleClick, MessageMedia, the merger, the persons soliciting proxies
relating to the merger, their interests in the merger, and related
matters. Investors and security holders will be able to obtain free
copies of these documents, once available, as well as each company`s
other SEC filings, through the website maintained by the SEC at
http://www.sec.gov. Free copies of the Proxy Statement/Prospectus, once
available, and DoubleClick`s other SEC filings may be obtained from
DoubleClick by directing a request through the Investor Relations
portion of DoubleClick`s website at http://www.doubleclick.net or by
mail to DoubleClick Inc., 450 West 33rd Street, New York, NY 10001,
Attention: Investor Relations, Telephone: (212) 683-0001. Free copies of
the Proxy Statement/Prospectus, once available, and MessageMedia`s other
SEC filings may be obtained from MessageMedia by directing a request
through the Investor Relations portion of MessageMedia`s website at
http://www.messagemedia.com or by mail to MessageMedia, Inc., 371
Centennial Parkway, Louisville, CO 80027, Attention: Investor Relations,
Telephone: (303) 440-7550.
In addition to the Registration Statement and the Proxy
Statement/Prospectus, DoubleClick and MessageMedia file annual,
quarterly and special reports, proxy statements and other information
with the SEC. You may read and copy any reports, statements or other
information filed by DoubleClick or MessageMedia at the SEC public
reference rooms at 450 Fifth Street, N.W., Washington, D.C. 20549 or at
any of the SEC`s other public reference rooms in New York, New York and
Chicago, Illinois. Please call the SEC at 1-800-SEC-0330 for further
information on the public reference rooms. DoubleClick`s and
MessageMedia`s filings with the SEC are also available to the public
from commercial document-retrieval services and at the website
maintained by the SEC at http://www.sec.gov.
Participants in Solicitation:
MessageMedia and DoubleClick and their respective directors, executive
officers and certain other members of management and employees may be
soliciting proxies from MessageMedia`s stockholders in favor of the
adoption of the merger agreement. A description of any interests that
MessageMedia`s and DoubleClick`s directors and executive officers have
in the merger will be available in the Proxy Statement/Prospectus.You
may change your subscription options at any time with this list
http://express.unitymail.net/UM/CMF.ASP?ID=A2758.27645.589&UMT=edit.htm
And you can always find us on the web at http://www.messagemedia.com
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