Digital Impact Inc. recommended that shareholders not do anything with respect to an offer from infoUSA to acquire all outstanding shares of Digial Impact. Last Wednesday, infoUSA made a $2 per share offer for the San Mateo, CA-based digital marketing firm.
Digital Impact’s board issued a statement saying that it would evaluate infoUSA’s unsolicited offer and issue a recommendation “in due course.”
A statement from infoUSA valued the total transaction, at Digital Impact’s current stock price, at around $74 million. On Friday, Digital Impact’s stock closed at $2 per share, the exact offer made by infoUSA. During the last 12 months, Digital Impact’s stock price has fluctuated between a low of $1.08 in late October to $2.75 in April of last year.
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