CMGI Rises 3% on Deal With German Online Ad Firm

Adtech joins a growing number of ad service companies in which CMGI has invested or owns.
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climbed Friday on news that the Internet holding company has inked a deal to acquire 80% of Frankfurt-based

Adtech Advertising

, which helps clients plan online ad campaigns.

CMGI closed Friday up 8 1/16, or 3%, to 276 7/8.

Adtech joins

Flycast Communications









Engage Technologies




in the stable of ad service companies in which CMGI has invested or owns outright. Andover, Mass.-based CMGI said it would merge Adtech with Adforce once it closes its deals with both companies.

"The Adtech acquisition and merger with AdForce is yet another step in our ongoing strategy to solidify CMGI's competitive position in Europe and the international Internet marketplace at large," David Andonian, president of corporate development at CMGI, said in a statement.

The deal is just the latest in a frenzy for CMGI, which has invested in or launched more than 45 portals, e-commerce companies, Internet technology companies and online ad services companies since 1995.

(AdForce closed Friday up 5/16, or .44%, to 71 3/8. Engage Technologies settled up 1 1/2, or 3%, to 60.)