ValueClick moves could point to acquisition
Despite turning in a $25 million profit last quarter, Westlake Village-based online marketing firm ValueClick disappointed Wall Street analysts with a gloomy revenue forecast for the fourth quarter.
But the company has quietly signed more than 70,000 square feet of new lease agreements and stockpiled hundreds of millions of dollars in cash and untapped credit lines on its balance sheet, suggesting it might be in acquisition mode.
ValueClick provides a range of online marketing options, from traditional banner ads to the nation’s largest network of click-driving bloggers and marketers. In 2007 and 2008, when Google acquired Internet advertiser DoubleClick and Yahoo bought a majority stake in Right Media, rumors swirled that ValueClick could be the next strategic acquisition in the space.