Italian publishing company to buy NetCreations

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New York-NetCreations Inc. is to be acquired by SEAT Pagine Gialle S.p.A., a Rome-based Yellow Pages publisher, in a $111 million cash transaction. The amount is less than the $159 million in stock DoubleClick Inc. originally offered to buy NetCreations, but more than the $59 million that offer had plunged to due to DoubleClick's ongoing stock price dip. The pact was called off last week by NetCreations, which must pay DoubleClick some $8 million in fees. The SEAT Pagine deal underscores the rapid globalization taking place in the direct marketing industry, and the increasing preference among Internet companies for cash instead of stock.
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