Traditional direct marketing and online marketing specialist L90 has agreed to buy the North American media business of DoubleClick – a former stock market darling in the distant days of the great e-bubble.
The DoubleClick unit will be absorbed into L90 and the combined business rebranded as MaxWorldwide – making it the largest US company in online ad sales and representation, claims L90 president/ceo Mitchell Cannold. As part of the integration, L90 will relocate from its Los Angeles headquarters to New York.
The deal, expected to be finalized Wednesday, will see $5 million in cash changing hands with the remaining $4.5m in paper. Most of DoubleClick’s current payroll including chairman Kevin O’Connor will transfer to MaxWorldwide, the latter as a board member.
The deal also cements an earlier relationship between the two companies, DoubleClick having last October bought two of L90’s technology businesses, adMonitor and ProfiTools.
Data sourced from: AdAge.com; additional content by WARC staff