NetRatings Agrees to Buy Jupiter Media
Reuters
NetRatings Inc. said it agreed to buy rival Internet research firm Jupiter Media Metrix for $71.2 million, increasing its customer base by 94%, at a time when research firms are struggling with economic uncertainty.
Jupiter Media Metrix stockholders may choose to receive 0.149 NetRatings share or $1.95 in cash in exchange for each of their shares. The exchange ratio is fixed, based on the NetRatings closing price of $13.09 on Nasdaq.
NetRatings, which said the merger is expected to close during the first quarter of 2002, noted its third-quarter revenue will be slightly better than it expected. Its loss also will be narrower than expected.
