DoubleClick Makes Offer for Protagona
DoubleClick would integrate Protagona's marketing campaign management suite with its own marketing automation software.DoubleClick Inc., perhaps best known for its online advertising network, continued to build its marketing software business Tuesday by making an offer to buy U.K.-based marketing automation software developer Protagona plc. The all-cash deal is worth about $13 million. Though valued at just 4 cents per share of Protagona stock, the deal still would be more than a 60 percent premium over Protagonas closing price Monday. Protagona just last month announced plans to acquire U.K.-based Swetenhams Marketing Services Ltd., which provides data integration and provisioning services. However, DoubleClicks offer is contingent on Protagona shareholders voting down the Swetenhams deal.
Protagonas board of directors has recommended the DoubleClick deal, noting that it would give shareholders an immediate return on their investments in a "difficult and uncertain market."