Barry Diller/ Getty
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ValueClick, Inc. (NASDAQ:VCLK) on Monday announced that it has agreed to sell 100 percent of its Owned and Operated Websites (O&O) segment to IAC (NASDAQ: IACI) the New York digital media company run by Barry Diller. In a statement, ValueClick said the transaction will be paid in cash, but did not specify the amount. The transaction is expected to close in January 2014, subject to customary closing conditions.
ValueClick’s O&O segment comprises a broad range of content and e-commerce websites including Investopedia and PriceRunner. Upon closing, the brands will join IAC’s conglomerate website publisher, Search & Applications reporting segment, joining more than 150 brands and products : Vimeo, Ask.com, About.com and Dictionary.com, among others. Diller, the company’s chairman, was formerly co-founder of News Corp.’s Fox Broadcasting Co.
IAC’s family of websites is one of the largest in the world, with more than a billion monthly visits across more than 100 countries. The Company is headquartered in New York City with offices in various locations throughout the U.S. and internationally.
Steve Neufer will continue to lead the business from their headquarters in Monrovia, CA.
On November 5, 2013, ValueClick announced its intention to divest the O&O segment to focus entirely on its core Media and Affiliate Marketing segments. As a result, ValueClick reclassified the O&O segment’s current and historical results as discontinuing operations beginning with the quarter ended September 30, 2013.