ValueClick to Add Comparison Services
From Bloomberg News
ValueClick Inc., an online advertising company based in Westlake Village, agreed to buy closely held Pricerunner for about $29 million in cash and stock. The shares fell as much as 28% in after-hours trading.
Three managing shareholders of Pricerunner will receive about 263,000 shares of ValueClick stock, ValueClick said.
Pricerunner operates comparison-shopping websites in Sweden and Britain and plans to expand in France and Germany this year. ValueClick had been looking to add comparison-shopping services as part of its strategic growth plan.
Shares of ValueClick fell as much as $2.78 to $7.01 in extended trading. They had dropped 52 cents, or 5%, to $9.79 on Nasdaq.
