@plan Inc. (Nasdaq: APLN) was up 13/16 at 7 1/16 early Friday, after the Stamford, Connecticut-based online advertising company said it hired an investment banker to help it find a buyer or partner.
“@plan has established itself as the indispensable planning standard for the buyers and sellers of Internet advertising and as an essential intelligence resource for e-commerce strategy,” said Chairman and Chief Executive Officer Mark K. Wright. “Although we are well-capitalized to pursue our business strategy, we remain committed to creating value for our shareholders, and, to this end, we believe that this is an appropriate time to explore strategic opportunities.”
@plan shares traded as high as 22 1/4 a year ago, though the stock is above its all-time low of 4 1/4 reached on April 4.
Veronis Suhler, a merchant bank specializing in the media, communications and information industries, will advise @plan on “possible strategic opportunities, including a possible partial or whole sale,” the company said.
@plan provides online target market research planning systems to companies including America Online Inc., EBay Inc., Microsoft Corp. and Yahoo!