Mitchell Simmons Laura Kraft
24/7 Media Fleishman-Hillard
212-231-7916 213-489-8255
[email protected] [email protected]
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FOR IMMEDIATE RELEASE:
24/7 Media Completes Acquisition Of Exactis.Com
NEW YORK--June 28, 2000--24/7 Media, Inc. (Nasdaq: TFSM), one of
the largest global Internet media and technology companies, announced today
that it has completed its previously announced acquisition of Exactis.com,
Inc. Exactis.com is a leading provider of permission-based precision e-mail
marketing and communications outsourcing solutions.
At special meetings held in New York yesterday, stockholders of
Exactis.com approved the merger and stockholders of 24/7 Media approved the
issuance of 24/7 Media common stock in the transaction. Each shareholder of
Exactis.com common stock will receive 0.60 shares of 24/7 Media common
stock for each share of Exactis.com common stock. Under the terms of the
agreement, 24/7 Media will issue approximately 8.2 million shares of common
stock and will assume options and warrants exercisable for an additional
2.1 million shares of common stock. Shares of Exactis.com common stock
ceased to be traded on the Nasdaq National Market at the close of business
today.
Exactis.com has become a wholly owned subsidiary of 24/7 Media
and will operate under the 24/7 Media name. Tom Detmer, president and CEO
of Exactis.com, said "the combined entity will have the broadest e-mail
marketing and communications capabilities available today, addressing all
elements of e-mail CRM: customer acquisition, retention and growth." He
said Exactis.com customers would now have
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access to 24/7 Mail's opt-in email database, the industry's largest and
fastest-growing database, as well as other 24/7 Media solutions and
services, including Web and wireless ad serving.
"We're now able to offer our thousands of combined clients an
end-to-end CRM solution that will help them acquire and retain new
customers and grow existing ones using both e-mail and the World Wide Web,"
said David J. Moore, president and CEO of 24/7 Media. "Combining
Exactis.com's highly scalable, precise e-mail delivery and advanced data
mining with the massive global reach of the 24/7 Network and 24/7 Mail's 23
million permission-based e- mail addresses under management allows us to
offer an unsurpassed breadth of solutions to e-marketers." The combined
organization has more than 250 engineers on staff, Moore noted, evidencing
its technology leadership.
Exactis.com will maintain its operations in Denver, with no
changes to client account management.
About 24/7 Media, Inc.
24/7 Media Inc. is a leading global provider of end-to-end interactive
technology and marketing solutions and services for Web publishers, online
advertisers, advertising agencies, e-marketers and e-commerce merchants.
24/7 Media provides a comprehensive suite of media and technology products
and services that enable these client groups to attract and retain
customers worldwide, and to reap the benefits of interactive and other
electronic media. Our solutions include advertising and direct marketing
sales, ad serving, promotions, email list management, email list brokerage,
email delivery, data analysis, loyalty marketing and convergence solutions,
all delivered from our industry- leading data and technology platforms. Our
24/7 Connect ad serving technology solutions are designed specifically for
the demands and needs of advertisers and agencies, Web publishers and
e-commerce merchants. Based in New York, 24/7 Media Inc. has offices in 51
cities in 28 countries. For more information, please visit
www.247media.com.
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Forward-looking Statements
Certain statements herein are "forward-looking statements" made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. These forward- looking statements represent 24/7 Media's current
expectations and beliefs and are naturally subject to uncertainty and
changes in circumstances. Actual results may vary materially from the
expectations contained herein due to changes in economic, business,
competitive and/or regulatory factors. More detailed information about
those and other factors is set forth in 24/7 Media's 1999 Form 10- K and in
all filings with the Securities and Exchange Commission made by 24/7 Media
subsequent to the filing of the Form 10-K. 24/7 Media does not undertake to
publicly update or alter its forward-looking statements, whether as a
result of new information, future events or otherwise.
