Stock Watch: 24/7 Deal Boosts Exactis

Exactis.com, Inc. (Nasdaq: XACT) rose 7 13/16 to 26 1/2 Tuesday following news that the e-mail marketing company will be acquired by 24/7 Media, Inc. (Nasdaq: TFSM) in an all-stock deal worth about $490 million. Under the agreement, each Exactis common share will be exchanged for 0.60 24/7 common shares. Shares of 24/7, a global advertising and direct-marketing company, closed at 46 1/2 down 3.

The acquisition of Exactis, which sends out more than 10 million e-mail marketing messages a day, will “help our combined company’s clients, numbering in the thousands, to acquire new customers and retain existing customers,” said David J. Moore, president and chief executive of 24/7.

Leave a Comment

Please sign in to post or reply to a comment. New users create a free account.

E-commerce Times Channels