Internet advertising site developer CMGI Inc., based in Andover, MA, has signed a definitive agreement to acquire AdForce Inc. for about $500 million. The deal is expected to close later this year.
Under the terms of the agreement, CMGI will issue 0.262 CMGI shares for every share of AdForce held on the closing date of the transaction.
As a part of the CMGI network, AdForce will reportedly continue to expand its customer base to CMGI-affiliated companies, well beyond their current Adsmart and Engage relationships. AdForce provides centralized advertising services, enabling online publishers, rep firms and advertisers to better use the Internet
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