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NEW YORK — Continuing the divestiture of its media operations, DoubleClick is selling its North American media business to L90 in a stock-and-cash transaction.
Expected to close this month, the deal calls for L90 to purchase the unit for $5 million in cash and 4.8 million shares, currently valued at $3.6 million. DoubleClick can also receive an additional $6 million in the future contingent upon certain performance goals being met.
DoubleClick’s sell off of its North American media business fits the New York-based company’s strategy to focus on its technology and data marketing products and services.
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