Double Click Acquires @Plan for $120 Million

Online advertising agency DoubleClick Inc., based in New York, will acquire online market research company @plan for approximately $120 million in stock and cash.

Under the terms of the agreement, each @plan stockholder will receive $9.25 for each share of @plan common stock. @plan stockholders will receive 20% of their consideration in cash, and the remainder in DoubleClick common stock.

The combined company -- which will reportedly give DoubleClick market research capabilities -- will be headquartered in New York, and @plan will continue to be based in Connecticut. Mark Wright, @plan chairman/ CEO, will continue in this role until the merger is finalized and will serve as a consultant thereafter. Susan Russo, current @plan's EVP, will assume COO responsibilities.