infoUSA SUCCESSFULLY COMPLETES ACQUISITION OF CLICKACTION INC.
Merger Seamlessly Integrates Online and Offline Direct Marketing
OMAHA, Neb. (December 3, 2002) - infoUSA (Nasdaq: IUSA), a leading provider of proprietary business and consumer database and sales and marketing solutions, and ClickAction Inc., (Nasdaq SC: CLAC) a leading provider of email marketing automation solutions, today jointly announced that the ClickAction stockholders approved the proposed merger transaction between infoUSA and ClickAction. The transaction will close at the end of business today.
Under the terms of the merger agreement that the firm announced on October 8, 2002, infoUSA will acquire all of ClickAction's outstanding stock for up to $4.1 million in cash, of which $1.4 million will be paid to its preferred stockholder and the remaining balance, subject to adjustment, will be paid to the common stockholders. The maximum adjustment is $650,000. Based upon 13,401,347 shares outstanding as reported in ClickAction's most recent quarterly report filed on August 14, 2002, ClickAction's common stockholders are expected to receive between $0.20 and $0.15 per common share depending on whether and to what extent adjustments are made.
Vin Gupta, Chairman and CEO, infoUSA, stated, "With this acquisition, the combined company will now offer ClickAction's suite of automated online technology and marketing solutions to millions of infoUSA customers. infoUSA also benefits from the leadership of ClickAction's experienced management team and growing customer base."
"This is an important moment not only for infoUSA and ClickAction, but for the industry itself. This merger represents a major step forward in bridging the divide between the online and offline industries because it creates the first truly synergistic marketing solution serving direct marketers," said George Grant, president and general manager at ClickAction.
About infoUSA
infoUSA (www.infoUSA.com), founded in 1972, is the leading provider of business and consumer information products, database marketing services, data processing services and sales and marketing solutions. Content is the essential ingredient in every marketing program, and infoUSA has the most comprehensive data in the industry, and is the only company to own a proprietary database of 250 million consumers and 14 million businesses under one roof. The infoUSA database powers the directory services of the top Internet traffic-generating sites, including Yahoo! (Nasdaq: YHOO) and America Online (NYSE: AOL). Nearly 4 million customers use infoUSA's products and services to find new customers, grow their sales, and for other direct marketing, telemarketing, customer analysis and credit reference purposes. infoUSA headquarters are located at 5711 S. 86th Circle, Omaha, NE 68127 and can be contacted at (402) 593-4500.
About ClickAction, Inc.
ClickAction, Inc. is a leading provider of email marketing automation products and services. ClickAction Email Marketing Automation (EMA) helps marketers design, deploy and manage personalized email campaigns that maximize the lifetime value of each customer. ClickAction EMA saves time, generates revenues and reduces costs by providing a highly scalable outbound and inbound messaging, one-to-one publication, powerful rule-based segmentation, real-time tracking and detailed reporting, all integrated in a Web-based solution. 100% Java-based, ClickAction EMA is built for easy deployment and integration with industry-leading third party applications. ClickAction EMA products and services range from fully hosted ASP applications to licensable, enterprise-class software. ClickAction products have a proven track record of success in a variety of industries including retail, catalog, brand and publishing. In addition to ClickAction EMA, the Company offers interactive, campaign, acquisition and rich media services. ClickAction is a member of TRUSTe, an independent, non-profit organization whose mission is to build users' trust and confidence in the Internet. For more information on ClickAction products and services, visit
www.clickaction.com
or call 1-800-473-3141.
Statements in this announcement other than historical data and information constitute forward looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, but are not limited to, recent changes in senior management, the successful integration of recent and future acquisitions, fluctuations in operating results, failure to successfully carry out our Internet strategy or to grow our Internet revenue, effects of leverage, changes in technology and increased competition. More information about potential factors that could affect the company's business and financial results is included in the companies' filings with the Securities and Exchange Commission.
ClickAction and infoUSA file annual, quarterly and special reports, proxy statements and other information with the SEC. You may read and copy any reports, statements or other information filed by ClickAction or infoUSA at the SEC public reference room at 450 Fifth Street, N.W., Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for further information on the public reference rooms. ClickAction's and infoUSA's filings with the SEC are also available to the public from commercial document-retrieval services and at the web site maintained by the SEC at http://www.sec.gov.