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GSI Commerce Buying e-Dialog

GSI Commerce Inc. (Nasdaq: GSIC) has agreed to acquire e-Dialog Inc., a Lexington, Mass.-based provider of email marketing solutions. The deal is valued at $157 million, including $147.8 million in cash and $9.2 million worth of restricted GSI Commerce shares. It is expected to close within the next 30 days. E-Dialog has raised around $20 million in VC funding since 1999 from firms like Commonwealth Capital Ventures and Flagship Ventures. It was advised on the sale by Jefferies & Co.

PRESS RELEASE

Leading e-commerce and multichannel solutions provider, GSI Commerce Inc. (Nasdaq: GSIC) today announced it has signed a definitive agreement to acquire e-Dialog Inc., a Lexington, Mass.-based market-leading provider of advanced e-mail marketing services and solutions to more than 100 blue-chip companies in the U.S. and Europe. The acquisition will significantly expand the breadth and depth of GSI's interactive marketing services capabilities, its reach into existing and new vertical markets, and its growing European presence. e-Dialog will benefit from GSI's large scale and market-leading position in e-commerce and multichannel services.

“e-Dialog is a high-performing company with a promising growth trajectory and is a perfect strategic, geographic and financial fit for GSI. We see the market demanding more sophisticated marketing services every day and have made it an imperative at GSI to provide our partners with robust and advanced services like e-Dialog's,” said Michael G. Rubin, chairman and CEO of GSI Commerce