Digital Impact rejects infoUSA bid

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San Mateo, Calif.—Digital Impact on Monday announced its board of directors has rejected data giant infoUSA’s acquisition offer of $2.00 per share of stock, or about $81 million.

The board, which said the cash offer was financially inadequate and not in the interests of stockholders, recommended its stockholders reject the bid and not tender their shares.

"The Digital Impact Board has thoroughly considered infoUSA’s unsolicited tender offer and has unanimously rejected the offer," said William Park, chairman-CEO of Digital Impact, in a statement. "The board believes that the offer is financially inadequate, opportunistic and fails to reflect the underlying value of the company," he said.

—Carol Krol

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