M:Metrics confirms $44.3m buyout by web analytics specialist.
We reported it first this morning and now M:Metrics has confirmed that it has been bought by Comscore.The transaction involves a cash payment of $44.3 million and the issuance of approximately 50,000 options to purchase shares of comScore common stock to certain M:Metrics unvested option holders.
The co-founders of M:Metrics, Will Hodgman, president and CEO, and Seamus McAteer, chief product architect, will join comScore’s management team.
Comscore is expecting the M:Metrics business to be profitable on an Adjusted EBITDA basis by the end of the fourth quarter of 2008, and to be a significant positive contributor to Adjusted EBITDA in 2009.
M:Metrics’ revenues are forecast to be $11-12 million for the full year 2008.
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