plans to acquire
, a privately held email marketing technology provider based in Toronto.
Though specific financial terms for the deal weren't disclosed, DoubleClick, which is based in New York, called it a stock and cash transaction that will be accounted for as a purchase.
FloNetwork's products will be integrated with DoublClick's DARTmail technology. In doing so, DARTmail will have a customer base of more than 200 direct marketers and the capacity to deliver more than 500 million emails a month.
DoubleClick, an Internet advertising firm, expects to close the deal in the second quarter. The company will provide updated financial guidance, including the effect of the acquisition, during its first-quarter conference call in April.
trading, DoubleClick lost $1, or 7.4%, to $12.50.