Doubleclick (NASDAQ:DCLK)
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DoubleClick Inc. Stockholders Approve Merger Agreement
NEW YORK, July 12 /PRNewswire-FirstCall/ -- DoubleClick Inc. (NASDAQ:DCLK),
the leading provider of data and technology solutions for marketers,
advertising agencies and web publishers, announced today that its stockholders
voted to adopt the merger agreement providing for the acquisition of
DoubleClick by an affiliate of the private equity investment firms of Hellman &
Friedman LLC and JMI Equity, at DoubleClick's annual meeting of stockholders
held today in New York, New York. Approximately 90% of stockholders present
and voting voted in favor of adopting the merger agreement. The number of
shares voting to adopt the merger agreement represented approximately 58% of
the total number of shares outstanding and entitled to vote.
The proposed merger was announced on April 25, 2005 and is expected to close as
soon as practicable, pending the satisfaction or waiver of all the closing
conditions set forth in the merger agreement. Under the terms of the merger
agreement, DoubleClick stockholders will receive $8.50 per share in cash,
without interest, for each share of DoubleClick common stock.
About DoubleClick
DoubleClick is the leading provider of solutions for marketers, advertising
agencies, and web publishers to plan, execute, and analyze their marketing
programs. DoubleClick's online advertising, email marketing and database
marketing solutions help clients yield the highest return on their marketing
dollar. In addition, the company's marketing analytics solutions help clients
measure performance within and across channels. DoubleClick Inc. has global
headquarters in New York City and maintains 21 offices around the world.
About Hellman & Friedman LLC
Hellman & Friedman LLC is a San Francisco-based private equity investment firm
with additional offices in New York and London. Since its founding in 1984,
the Firm has raised and managed over $8 billion of committed capital and
invested in approximately 50 companies. The Firm's strategy is to invest in
superior business franchises and to be a value-added partner to management in
select industries, including media, software, information services, financial
services, energy, and professional services. Hellman & Friedman is one of the
few private equity firms with a focused effort in marketing services and
software industries. Hellman & Friedman has invested in and helped build
outstanding companies in these sectors, such as Blackbaud, Inc., Digitas, Inc.,
Mitchell International, Inc., Vertafore, Inc., and Young & Rubicam. For more
information on Hellman & Friedman, visit http://www.hf.com/.
About JMI Equity
JMI Equity, based in San Diego and Baltimore, is a private equity firm
exclusively focused on investments in the software and business services
industries. Founded in 1992, JMI manages approximately $400 million and has
invested in 60 companies throughout North America. JMI invests in growing
businesses. The Firm's focus is on providing the first institutional capital
to self-funded companies. JMI also invests in select recapitalization and
management buyout financings. Representative investments include Unica
Corporation, Eloqua Corporation, Blackbaud, Inc., Mitchell International,
Mission Critical Software, NEON Systems, Inc. and Transaction Systems
Architects. For more information on JMI Equity, visit
http://www.jmiequity.com/.
Forward Looking Statements
Statements in this release regarding DoubleClick's future expectations,
beliefs, goals, plans or prospects constitute forward looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. Any
statements that are not statements of historical fact (including statements
containing the words "believes," "plans," "anticipates," "expects," "estimates"
and similar expressions) should also be considered to be forward looking
statements. There are a number of important factors that could cause actual
results or events to differ materially from those indicated by such forward
looking statements, including: the failure of the buyer to consummate the
necessary debt financing arrangements set forth in a commitment letter received
by Hellman & Friedman or the failure to satisfy other conditions to the closing
of the proposed transaction, the ability to recognize the benefits of the
transaction, intense competition in DoubleClick's industry, lack of growth or
decline in online advertising or marketing, changes in government regulation,
failure to manage the integration of acquired companies, failure to
successfully manage DoubleClick's international operations and other risks that
are contained in documents and the other factors described in DoubleClick's
Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2005
filed with the SEC. In addition, any forward-looking statements represent
DoubleClick's estimates only as of today and should not be relied upon as
representing DoubleClick's estimates as of any subsequent date. DoubleClick
disclaims any intention or obligation to update any forward looking statements
as a result of developments occurring after the date of this release.
Doubleclick Investor Contact:
Jason McGruder Director, Investor Relations
212-381-5182
DOUBLECLICK PRESS CONTACT:
Jennifer Miller, VP, Corporate Communications
212-381-5705
DATASOURCE: DoubleClick Inc.
CONTACT: Investors: Jason McGruder, Director, Investor Relations, +1-
212-381-5182, or Media: Jennifer Miller, VP, Corporate Communications, +1-212-
381-5705, both of of DoubleClick Inc.
Web site: http://www.doubleclick.com/
http://www.jmiequity.com/
http://www.hf.com/