NEW YORK Viewpoint Corp.'s shares rose 7 percent or 19 cents to close on Nasdaq at $2.83 today, following this morning's announcement that the company has agreed to acquire Unicast in a transaction valued at $7.4 million.
The deal, expected to close shortly after Dec. 31, calls for Viewpoint to issue stock to and assume the debt of Unicast. The New York-based company is also considering raising capital to finance the cash portion of the purchase.
The acquisition will combine Viewpoint's Internet ad-delivery, search, creative and licensing services with Unicast's ability to deliver rich media and broadcast-quality video to the Web.
The marriage is meant to allow advertisers and agencies to manage all aspects of their online efforts—from creative assembly and media planning to campaign management and tracking—via a single source. The offering will address every form of online advertising, including full-screen, in-stream and in-page video.
Unicast, also based in New York, provides the video commercial and standard and full-screen Superstitial formats to advertisers like Honda, Nike and Procter & Gamble, among others. Some of Viewpoint's clients are General Motors, Samsung and Hewlett-Packard.
In after-hours trading, Viewpoint's shares (VWPT) rose 4 percent or 11 cents to reach $2.94. The stock's 52-week high is $4.30 a share; its low, 67 cents.