ValueClick, Inc. (NASDAQ: VCLK) today announced that it intends to pursue the divestiture of its Owned & Operated Websites (“O&O”) segment.
“While we have a strong set of businesses within our O&O segment, we have concluded that they do not align with our ‘One ValueClick’ strategy of leveraging our broad set of unique data assets and differentiated technology platforms to connect consumers and brands through personalized one-to-one marketing at scale,” said John Giuliani, president and chief executive officer of ValueClick. “Being able to focus entirely on our core Media and Affiliate Marketing segments, which together currently represent more than 90% of our profitability, will allow us to direct management attention and capital resources to better serve our clients, employees and shareholders.”
In connection with the divestiture decision, ValueClick has reclassified the O&O segment’s operating results as discontinued operations beginning with ValueClick’s third quarter 2013 financial results being reported later today. ValueClick’s historical financial results have been recast to conform with the current presentation of the O&O segment as discontinued operations. The revised presentation of the Company’s historical financial results is available in downloadable Excel format on ValueClick’s Investor Relations website located at http://ir.valueclick.com/.
ValueClick will continue to operate the O&O segment during the process of pursuing a sale, with no anticipated changes to day-to-day operations. ValueClick’s O&O segment, based in Monrovia, Calif. and with operations throughout Europe and Asia, operates a broad range of popular content and ecommerce websites including Investopedia, PriceRunner, Smarter.com, SymptomFind and CouponMountain.com.“We operate world-class brands such as Investopedia and PriceRunner that provide unique and important information to more than 40 million highly engaged consumers each month,” said Steve Neufer, president of ValueClick’s O&O segment. “I look forward to working with our more than 250 employees, thousands of direct advertisers and key strategic partners around the world as we find a new home for our great assets.”
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