DoubleClick agrees to buy Performics

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New York--DoubleClick is the latest online player to enter the red-hot search engine marketing arena with its announcement Monday that it has agreed to acquire Performics.

The cash deal for the search engine marketing and affiliate marketing company is valued at $58 million, in addition to an earn-out of up to $7 million, to be paid if Performics reaches certain revenue objectives.

DoubleClick said the acquisition would offer its existing clients a more comprehensive suite of marketing services. Performics customers would gain access to DoubleClick's marketing services, including online advertising management, e-mail marketing and Web site analytics.

The deal, which is subject to antitrust approval, is expected to close in mid-June.

--Carol Krol

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