Doubleclick To Acquire Messagemedia

DoubleClick, the New York-based Internet advertising company, on Friday announced its intent to purchase MessageMedia in a common stock transaction valued at approximately $41 million. DoubleClick has an existing e-mail marketing product, DARTmail, which delivers more than 600 million e-mails per month.

Clients include Procter & Gamble, J.Crew, The Wall Street Journal Online, and VirginMegaStores.com. MessageMedia delivers more than 100 million e-mails per month for companies including Cisco, E*Trade, Columbia House, Intuit, Starwood Hotels, Fleet Boston Financial and Bluelight.com.

MessageMedia, which in December announced plans to cut roughly 100 staff positions, has also announced it is cutting back on its investment in wireless projects and online customer care.

In April, DoubleClick purchased Toronto-based FloNetwork, an e-mail technology provider.

From Adweek’s Technology Marketing magazine