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DoubleClick buys @plan.inc
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September 25, 2000: 8:40 a.m. ET
Web ad firm to pay $120M cash and stock for online market research firm
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NEW YORK (CNNfn) - Internet advertising company DoubleClick agreed Monday to acquire online market research company @plan.inc for about $120 million in stock and cash.
DoubleClick will pay $9.25 for each share of @plan common stock, a 31 percent premium over last Friday's close. @plan shareholders will receive 20 percent of the value of their shares in cash and the rest in DoubleClick stock.
DoubleClick plans to use @plan for the foundation of a research division.
"This transaction will allow DoubleClick to bring world-class research and objective planning solutions to the online marketing community," DoubleClick CEO Kevin Ryan said in a statement. "As two industry leaders with a combined client base of over 6,000 top ad agencies, advertisers and Web publishers, we are confident we will further be able to build out our client base."
Stamford, Conn.-based @plan (APLN: Research, Estimates) had revenue of $7.1 million in 1999, and lost $2.1 million. The company has 34 employees.
New York-based DoubleClick lost $55.8 million in 1999 on revenue of more than $258 million, and has a employs just under 1,400.
Shares of DoubleClick (DCLK: Research, Estimates) lost $2.44 to $37.50 Friday, while shares of @plan dropped 19 cents to $7.25. 
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DoubleClick
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