ValueClick to Sell Owned & Operated Websites Segment to IAC
ValueClick (NASDAQ: VCLK) today announced that it has agreed to sell 100 percent of its Owned and Operated Websites (O&O) segment to IAC (NASDAQ: IACI). The all-cash transaction is expected to close in January 2014, subject to customary closing conditions.
ValueClick's O&O segment comprises a broad range of content and e-commerce websites including Investopedia and PriceRunner. Upon closing, the brands will join IAC's Search & Applications reporting segment, joining Ask.com, About.com and Dictionary.com, among others. Steve Neufer will continue to lead the business from their headquarters in Monrovia, CA.
On November 5, 2013, ValueClick announced its intention to divest the O&O segment to focus entirely on its core Media and Affiliate Marketing segments. As a result, ValueClick reclassified the O&O segment's current and historical results as discontinuing operations beginning with the quarter ended September 30, 2013.
Wells Fargo Securities, LLC is serving as ValueClick's financial advisor in connection with this transaction.
ValueClick, Inc. (NASDAQ: VCLK) is one of the world's largest digital marketing companies. Through a unique combination of data, technology and services, ValueClick increases brand awareness and drives customer acquisition at scale for the world's largest advertisers, and maximizes advertising revenue for