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."
Protagona develops the Ensemble suite of marketing campaign management and integrated analytics software. DoubleClick plans to integrate Ensemble with its own marketing automation software, which company officials said would be complementary to Ensemble. The combined software would plan, execute and measure multichannel marketing campaigns, DoubleClick officials said.
DoubleClick CEO Kevin Ryan said in a statement that both companies would benefit from the deal.
"This acquisition will open the DoubleClick customer base to Protagonas marketing automation tool and strengthen DoubleClicks position in this growing market through an integrated product offering," said Ryan in New York. "DoubleClick has the global engineering expertise, financial resources, existing sales infrastructure and historical investment in research and development to build and integrate Protagonas product offering."