AOL To Buy Swedish Advertising Company
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AOL, Time Warner Inc.’s Internet unit, agreed to buy TradeDoubler AB, a Swedish Internet advertising company, for 6.3 billion Swedish kronor ($900 million) to expand in Europe.
AOL offered 215 Swedish kronor per share, or 8.6% more than TradeDoubler’s closing price January 12, AOL said today in a statement. TradeDoubler’s board unanimously recommends the offer and shareholders owning about 20% of the company have agreed to accept it, AOL said.
With the addition of Stockholm-based TradeDoubler, AOL aims to strengthen its position in Europe’s online market and add to the range of services provided by its Advertising.com division. AOL, based in Dulles, Virginia, acquired Advertising.com in 2004.
TradeDoubler shares rose above AOL’s offer, jumping 15% to 227 kronor in Stockholm.
