Geeknet terminates a purchase agreement with Hot Topic and accepts a $20 per share bid by GameStop.
The combination expands market share and promises cost reductions for both companies.
ValueClick Inc., a leading provider of performance-based online marketing services, will merge with Mediaplex, Inc., a provider of instant messaging and other technology solutions for marketers and advertisers. The merger is an effort to gain market share by providing advertising and tracking technology solutions to both advertisers and publishing sites using Mediaplex’s proprietary real-time ad serving and e-CRM technology, combined with ValueClick’s ad serving solution. It will allow each company to leverage its respective technologies across a broader base, company officials said. The transaction, still to be approved by shareholders, will leave the combined company with a cash balance of more than $150 million.
“Being able to extend our product offerings while achieving the significant cost reductions we have planned will ensure both the growth potential and financial stability needed in this market,” says Jim Zarley, CEO of ValueClick, who will continue in the roles of CEO and chairman of the company after the merger is compete. President and CEO Tom Vadnais will continue in those roles at Mediaplex, which will become a subsidiary of ValueClick. ValueClick currently reaches one in three Internet-wired households in the U.S, providing service for clients including The Coca-Cola Co. and Sara Lee Corp. Mediaplex, Inc. currently provides marketing communications technology support and infrastructure for clients including eBay, Macys.com, OfficeMax.com and others.