DoubleClick Inc. completed an $85 million investment in ValueClick Inc. in return for a 30% equity stake. Under the terms of the agreement, ValueClick will receive $75 million in DoubleClick stock and $10 million in cash. In addition, DoubleClick has a warrant to buy another 15% of ValueClick within the next 15 months.
Separately, DoubleClick’s chief executive officer, Kevin O’Connor told an audience at New York’s SiliconAlley2000 Conference yesterday that the alleged privacy violations his company is being investigated for by the Federal Trade Commission and the attorneys general of Michigan and New York are industry wide. Its acquisition of Abacus Direct gave the Internet advertising company access to a large customer information database, causing concern among privacy advocates.
Network
