Today, DoubleClick announced that it will pay $58 million in cash for Chicago-based Performics, plus possible earn-out payments of up to $7 million. Nelson Capital is one of several institutional investors who have provided a total of roughly $10 million in capital to Performics since its inception in 1998.
Performics provides software that helps businesses determine which Internet search topics to buy ads for and tracks the ads' effectiveness. With sales expected to rise 50% this year, Performics should contribute sales of $10 million during the final six months of 2004. Assuming antitrust approval, the transaction should close in the second quarter.
" DoubleClick believes that Perfomics is the leader in the burgeoning area of improving paid listings results for marketers, and that spending on these sorts of products should outpace the overall growth in search spending," DoubleClick said in a release.
In addition to Nelson Capital, other firms that have invested in Performics include KB Partners, Portage Venture Partners and Tribune Ventures.
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