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BtoB

Doubleclick hires Lazard Freres to explore possible sale

Published on .

New York—Direct and interactive marketer DoubleClick on Sunday announced it has hired Lazard Freres & Co. to "explore strategic options for the business in order to achieve greater shareholder value," signaling a potential sale of the company.

DoubleClick said strategic options for the business could include "a sale of part or all of its businesses, recapitalization, extraordinary dividend, share repurchase or a spin-off."

DoubleClick has a market value of about $800 million. Net income for its third quarter, announced last Thursday, was $15.4 million compared with $6.3 million a year earlier. Third-quarter revenue rose 8.2% to $81 million.

However, fourth-quarter earnings are expected to miss Wall Street estimates, the company warned, because of weak performance in its marketing automation and data management segments.

—Carol Krol

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