After Spurning DoubleClick, NetCreations to Be Acquired By Italian Firm

Email marketing firm

NetCreations

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, which last week nixed an agreed-upon merger with

DoubleClick

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when an unnamed suitor emerged, said Tuesday it had agreed to be acquired by Italy's

SEAT Pagine Gialle Spa

.

The Italian Internet service provider will pay $7 a share in cash for NetCreations' outstanding common stock, or about $111 million. NetCreations has about $30 million in cash on its balance sheet.

Double Click offered to buy NetCreations in October in a stock swap valued at $191 million. But the price tag declined as DoubleClick's stock fell from $26 a share at the time of the agreement to under $10 recently.

NetCreations is required to pay an $8.6 million break-up fee, plus expenses, to DoubleClick.

Shares of NetCreations gained 9 cents, or 1.4%, to $6.78 in recent

Nasdaq

trading