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DoubleClick buys market research company for $1 billion in stock

Published on .

New York--DoubleClick, New York, is buying market researcher Abacus Direct Corp., Broomfield, Colo., for $1 billion in stock, giving it a wider range of valuable consumer data it can sell. Abacus Direct tracks what consumers buy from catalogs, and sells the data to retail and publishing companies. DoubleClick said the combined company, which will have its headquarters in Manhattan, will provide Internet marketing and advertising services. DoubleClick embarked on an aggressive acquisition strategy after a secondary offering in December raised $370 million. But the market seems to not have liked this step: DoubleClick's shares fell 12% in Monday morning trading.Crain's New York Business.
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