×

Once registered, you can:

  • - Read additional free articles each month
  • - Comment on articles and featured creative work
  • - Get our curated newsletters delivered to your inbox

By registering you agree to our privacy policy, terms & conditions and to receive occasional emails from Ad Age. You may unsubscribe at any time.

Are you a print subscriber? Activate your account.

CMGI snags its latest Internet company: AdForce

Published on .

CMGI signed a definitive agreement to acquire ad serving company AdForce in a stock-for-stock transaction valued at $500 million. Under the deal, CMGI will issue 0.262 CMGI shares for every AdForce share held on the transaction's closing date. AdForce, which went public in May, closed Sept. 20 at $20.25, up 75 cents. Based on CMGI's closing price, the deal puts a value on AdForce of $21.86 a share. AdForce has traded as high as $62.69 a share.

Copyright September 1999, Crain Communications Inc.

In this article:
Most Popular