Excite agreed Jan.15 to acquire ad management company MatchLogic last week for about 3.2 million shares of Excite stock, valued at $89 million. The Boulder, Colo.-based MatchLogic made news in 1997 when it released TrueCount Digital Measurement System, a way of solving the problem of ads cached on proxy servers; the improved tracking ability helps validate the Web as an advertising medium.
Excite said it will begin using MatchLogic's technology in March on its Excite and WebCrawler search engines and that MatchLogic will remain an independent subsidiary. Excite must obtain accounting and regulatory approvals before the sale can be finalized.
Copyright January 1998, Crain Communications Inc.