Archive for (Nasdaq:ICLK)
Yahoo! to Acquire interclick
Posted by: | CommentsAcquisition Extends Yahoo!’s Audience Targeting Capabilities and Premium Content Supply
By Himank Sharma
(Reuters) – Yahoo Inc will pay $270 million for interclick inc as it tries to revive its ailing online advertising business, even as the search and advertising giant continues to scout for potential bidders.
Sunnyvale, California-based Yahoo is paying $9 per share, or about a 22 percent premium, for the online advertising technology firm.
Yahoo shares slid 5 percent in morning trade on Nasdaq.
Yahoo, plagued by stagnating growth in its U.S. business and a rift with key Chinese partner Alibaba, had fired its chief executive in September and has been exploring strategic alternatives — including a potential sale.
“Yahoo does not have much leverage right now, they got no CEO, everyone knows they are up for sale … so how much pricing power does that give them? (with potential buyers),” BGC Partners analyst Colin Gillis said.
Among the parties interested in Yahoo are private equity firms Silver Lake, TPG Capital, Bain Capital, Blackstone, Kohlberg Kravis Roberts, Providence Equity Partners, Hellman & Friedman, Carlyle Group, and Russian technology investment firm DST Global, apart from rivals Microsoft Corp and Google Inc.
“It’s not a transformational acquisition, but it helps Yahoo in a market they are not strong in … they have to take some steps to keep pushing forward.”
Interclick, with annual revenue of about $102 million, helps advertisers identify online target audience through its open segment manager analytics platform.
Yahoo said it expects to use interclick’s offerings for its own display advertising business.
The crowded advertising technology sector is dominated by a slew of small players and start-ups but has seen some of the biggest deals over the years. Google bought DoubleClick, in 2007 for $3.1 billion while eBay acquired GSI Commerce for $2.4 billion earlier this year.
GCA Savvian Advisors LLC acted as the lead financial adviser to interclick in connection with the transaction.
Yahoo shares fell to $14.04 in morning trade On Monday.
Shares of interclick soared 21 percent to $8.94. (Reporting by Himank Sharma in Bangalore; Editing by Joyjeet Das and Gopakumar Warrier)
Yahoo! Contact Information
Media Contact:
Dana Lengkeek
415-994-4008
Investor Contact:
Cathy La Rocca
408-349-5188
cathy@yahoo-inc.com
interclick Contact Information
Media Contact:
Siobhan Aalders
Ogilvy New York
212-880-5341
Investor Contact:
Hayden IR
(646) 536-7331
InterCLICK Strengthens Board By Adding Seasoned Executive Leaders
Posted by: | Comments
NEW YORK, July 6, 2010 (GLOBE NEWSWIRE) — interCLICK, Inc. (Nasdaq:ICLK), a digital audience intelligence and targeting company, today announced Dave Hills and Frank Cotroneo have been named to its Board of Directors. Both leaders bring extensive expertise and a track record of C-Level success across a range of public and Fortune 500 companies.
Dave Hills is General Partner at KPG Ventures, a venture capital and private equity firm. He is the former President & Chief Executive Officer of LookSmart, a publicly-traded online advertising and technology company. Mr. Hills previously served as President, Media Solutions at 24/7 Real Media, a leading global digital marketing company which was acquired by WPP in 2007. From 1980 to 2001 he served in various sales leadership capacities culminating in the role of Chief Operating Officer and President of Sales at About, Inc., a network of topic-specific Web sites.
Frank Cotroneo has more than 28 years of business and senior management experience. Mr. Cotroneo most recently served as Chief Operating Officer and Chief Financial Officer of NetSpend Corporation, a provider of prepaid debit card services. He is the former Chief Financial Officer of Axciom Corporation, former CFO of H&R Block, and former CFO of MasterCard International.
“We’re thrilled to be adding these two outstanding leaders to our Board of Directors,” said Michael Mathews, interCLICK’s CEO on behalf of the company’s Board and senior management team. “We look forward to benefiting from Dave and Frank’s business strategy and financial management expertise as we pursue our growth agenda.”
About interCLICK
interCLICK is an audience intelligence and targeting company, developing and executing data-driven campaign strategies for major digital agencies and marketers. Fueled by its proprietary software, interCLICK empowers its clients to reach desirable audiences efficiently, in brand-safe environments, and at tremendous scale. interCLICK is headquartered in New York City and has offices in Chicago, Los Angeles, San Francisco, Dallas and Miami. For more information about the interCLICK Network, visit http://www.interclick.com .
CONTACT: interCLICK, Inc.
Roger Clark, CFO
(646) 395-1776
roger.clark@interclick.com
Hayden IR
Investor Relations Contact
Brett Maas
(646) 536-7331
brett@haydenir.com