CMGI Inc., an Andover, MA-based Internet firm holding company, announced plans to purchase e-mail marketer yesmail.com Inc. The purchase is expected to be a stock transfer valued at approximately half a billion dollars.
The deal is expected to close in March.
Yesmail.com shareholders will receive approximately one-eighth of a share of CMGI stock for each share of yesmail.com they own. According to the terms of the deal, yesmail.com’s shares will be valued at $24.50 each. There are just over 20 million shares outstanding.
Yesmail.com provides new product information to subscribers on an opt-in basis. Clients include SOHO retailers.