DoubleClick is to acquire @plan, a provider of online market research planning systems, in a deal valued at $120 million.
DoubleClick plans to build a research division based on @plan’s capabilities, while its technology infrastructure and resources will allow @plan to expand its product line.
Under the terms of the agreement, @plan stockholders will receive $9.25 for each share. @plan stockholders will receive 20% in cash, and the remainder in DoubleClick stock. The deal should be through later this year.
“@plan is one of the industry’s most respected market research planning companies,” said Kevin Ryan, CEO, DoubleClick. “As two industry leaders, we have a combined client base of over 6,000 top ad agencies, advertisers and web publishers.”
@plan provides over 500 clients with sophisticated online market research decision support and planning systems. Its ASP system combines databases of consumer survey responses about lifestyle, product preferences and demographic information, with interactive software.
“We are delighted to be joining DoubleClick. The company’s record of creating innovative technology solutions, coupled with its experienced management team, makes this transaction a strong combination,” said Mark Wright, CEO of @plan.
The will have its headquarters in New York, and @plan will keep its base in Connecticut. Wright will continue to be CEO of @plan until the merger is finalized. Susan Russo of @plan will become COO.
Greg Ellis, DoubleClick manager of research, will become president of @plan. Ellis joined DoubleClick earlier this year, having developed businesses for ACNielsen, IRI, and Standard & Poor’s/DRI. Most recently, Ellis served as chief operating officer of Opinion Research.
“@plan’s products are used as core day-to-day tools by media planners and buyers,” said Ellis. “As we took a look at the market and the needs of media buying and e-commerce communities, it became clear that @plan was a strong partner to help DoubleClick build out a separate research division.”