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| VCLK > SEC Filings for VCLK > Form 8-K on 20-Oct-2008 | All Recent SEC Filings |
20-Oct-2008
Other Events
On October 16, 2008, ValueClick, Inc. ("ValueClick" or "the Company") completed the divestiture of two non-core assets in order to focus on its core-competency of providing online marketing products and services. The divestitures are:
• The sale of its AdVault software suite of production, financial, and offline media planning and buying solutions for advertising agencies, to MediaBank, LLC. ValueClick retains the separate Mediaplex online advertising technology solutions business marketed under the MOJO brand, which is unrelated to the AdVault suite and a key part of the Company's core online marketing services portfolio.
• The sale of its inkjet e-commerce business to an undisclosed private buyer.
AdVault was included in the Company's Technology business segment, while the e-commerce business was included in the Media business segment. For the first half of 2008, these divested businesses in aggregate represented less than four percent of ValueClick's consolidated revenue and an immaterial portion of the Company's total operating income. The aggregate gross proceeds from these divestitures of approximately $18 million and the related net gain will be recorded in the Company's fourth quarter 2008 results.
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