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Engage Technologies to acquire AdKnowledge

Published on .

Engage Technologies, a provider of profile-based Internet ad targeting and a majority-owned operating company of CMGI, signed a definitive agreement to acquire ad serving and tracking company AdKnowledge, in a stock transaction valued at approximately $193 million. Under the terms of the deal, CMGI will initially acquire control of AdKnowledge through the issuance of approximately $170 million of CMGI common stock, followed by a contribution of AdKnowledge shares held by CMGI and AdKnowledge shareholders to Engage in exchange for approximately $193 million of Engage common stock. The transaction is expected to be completed in late 1999 or early 2000.

Copyright September 1999, Crain Communications Inc.

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