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DoubleClick Merges With Market Data Firm Abacus Direct.

Internet ad firm DoubleClick Inc wants to spend $1bn for Abacus Direct Corp, a firm that collects and analyzes data from retail and home shoppers. DoubleClick intends to data-mine Abacus resources to make its own online advertising more efficient. The company sells banner ads on a network of more than 1300 web sites, including AltaVista. Right now it knows only very general facts about its users, such as sites they have previously visited. With Abacus data in hand, DoubleClick could also find out whether a given internet user has shopped at Williams-Sonoma or Bloomingdales. Privacy activists may not be best pleased.

If it goes ahead, the deal will see DoubleClick issue 1.05 shares of its common stock for each share of Abacus stock. Abacus shareholders will own 20.5% of the combined company, which will retain the DoubleClick name. Kevin O'Connor will remain chairman and CEO of DoubleClick, with Abacus founder, chairman and CEO Tony White serving on the merged company's board.
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Publication:Computergram International
Geographic Code:1USA
Date:Jun 15, 1999
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