New York-based internet advertising company Doubleclick yesterday announced plans to buy Atplan, an online market research firm, for cash and stock worth $120 million.

The deal, which values Atplan shares at $9.25 (28% above Friday’s closing price) is expected to go through in the fourth quarter.

Susan Russo, Atplan’s executive vice president, will become coo of the merged business, which will provide data to help construct marketing campaigns. Greg Ellis, vice president at Doubleclick and general manager of research, will become Atplan’s president.

News source: Financial Times