Thursday, August 11, 2005

ValueClick To Acquire Fastclick For $214M

Westlake Village-based ValueClick (VCLK) and Santa Barbara-based Fastclick (FSTC) announced this morning that they have entered into an agreement for ValueClick to acquire Fastclick. The deal is worth approximately $214M based on yesterday's closing prices of the two firms. Fastclick will become a wholly-owned subsidiary of ValueCLick. The deal is a stock exchange transaction, where each outstanding share of Fastclick common stock will be exchanged for 0.7928 of a share of ValueClick common stock. According to ValueClick, it currently expects to save up to $4M a year in annual cost savings from the acquisition. Fastclick is a provider of an online advertising network, and had an IPO in April, shortly after a huge venture round in November that cashed out the original founders.