The agreement, which came to terms less than one month after the intent to purchase was announced March 12, calls for Accipiter to join CMG as a wholly owned subsidiary.
Accipiter, which was acquired for $35 million in CMG stock, will merge with Engage Technologies. Engage is CMG’s real-time, one-to-one marketing profiling and targeting company for creating personalized marketing environments on the Web.
Engage/Accipiter, as a single, integrated company, will focus on developing Web advertising and marketing solutions, leveraging Accipiter’s list of customers and Engage’s database of anonymous Web user profiles.
Paul Schaut, CEO of Engage Technologies, will lead both companies. Chris Evans will remain CEO of Raleigh, NC-based Accipiter, reporting to Schaut.
CMG Information Services Inc. is an Internet investment and holding company that operates direct marketing companies along with Internet companies and venture funds focused on the Internet. Microsoft, Intel, and Sumitomo hold minority positions in CMG Information Services.
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