EXHIBIT 99.2
P R E S S R E L E A S E
Contacts: Deidre Moore Lyn Chitow Oakes
CMGI Flycast
(978) 684-3655 (415) 913-1592
dmoore@cmgi.com lyn@flycast.com
CMGI COMPLETES ACQUISITION OF
FLYCAST COMMUNICATIONS CORPORATION
ANDOVER, MA AND SAN FRANCISCO, CA, JANUARY 14, 2000 - CMGI, Inc. (Nasdaq: CMGI)
announced today that it has completed its acquisition of Flycast Communications
Corporation (Nasdaq: FCST), a leading provider of web-based direct response
advertising solutions, in a stock-for-stock merger. Under the terms of the
merger, CMGI will issue .9476 shares of CMGI common stock for every share of
Flycast common stock held on January 13, 2000. Effective immediately, Flycast
is a majority-owned operating company of CMGI, joining fellow CMGI-affiliated
advertising properties Engage (Nasdaq: ENGA), Adsmart, AdForce, AdKnowledge and
I/PRO.
"Flycast represents a critical component of CMGI's larger goal to build a full-
service network of advertising and marketing properties," said David Andonian,
President, Corporate Development, CMGI. "CMGI has already begun to leverage the
inter-company synergies between Flycast and our other advertising businesses,
particularly Engage and AdForce, and we look forward to extending Flycast's
relationship with Adsmart to bring together advertisers and publishers, branded
and non-branded sites, for the delivery of a complete advertising network
solution."
"We are very pleased to join CMGI's family of leading advertising and marketing
services companies in providing the most comprehensive advertising and marketing
solutions in the industry," said George Garrick, Chairman and CEO of Flycast.
"Working hand-in-hand with the powerful team of CMGI advertising properties will
allow Flycast to both enhance our current offerings and to quickly bring new
products and services to market."
Since CMGI announced its agreement to acquire Flycast in September, Flycast has
continued to expand upon its extensive suite of online direct marketing
solutions. In October, Flycast launched its European operations to meet the
demand for response-based web advertising solutions in major European media
markets. Flycast has also increased its product offerings with the recent launch
of Flycast Valet, a comprehensive e-commerce service, and Flycast CPCnet, a new
cost-per-click advertising network. Flycast also just announced the commercial
launch of the Flycast eDispatch Newsletter Network, which provides advertisers
with the ability to run campaigns across multiple email newsletters with a
single media buy. In addition, Flycast continues to build its relationship with
affiliates, which now totals more than 2400 sites.
Flycast already has built synergistic relationships with other CMGI companies,
including AdForce and Engage, to further benefit both advertisers and web
publishers. Flycast partnered with AdForce to offer AdForce's ad serving
capabilities to new sites in the Flycast Network. Engage is working with Flycast
to deploy Engage's profiling technology across the Flycast Network.
ABOUT FLYCAST COMMUNICATIONS
Based in San Francisco, Flycast Communications is the leading provider of
Internet direct response advertising solutions. The company is focused on
maximizing the return on investment for response-oriented advertisers, direct
marketers and e-commerce companies by delivering the most ROI-effective audience
reach, response and results in the industry. The company's flagship offering,
the Flycast Network, reaches over 25 million people a month, or 41 percent of
the web. Flycast's advertisers include e-commerce companies, direct response
marketers and interactive agencies who are interested in generating site traffic
and increasing web-based sales through ROI-focused advertising. Flycast can be
reached on the web at http://www.flycast.com.
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ABOUT CMGI
With 60 companies, CMGI, Inc. (Nasdaq: CMGI) represents the largest, most
diverse network of Internet companies in the world. This network includes both
CMGI operating companies and a growing number of synergistic investments through
its venture capital affiliate, @Ventures. CMGI leverages the technologies,
content and market reach of its extended family of companies to foster rapid
growth and industry leadership across its network, and the larger Internet
Economy. Compaq, Intel, Microsoft, Pacific Century CyberWorks and Sumitomo hold
minority positions in CMGI.
CMGI's majority-owned operating companies include Engage Technologies (Nasdaq:
ENGA), NaviSite (Nasdaq: NAVI), 1ClickBrands, 1stUp.com, Activate.net,
Activerse, AdForce, Adsmart, AltaVista, CMGI Solutions, Flycast, iCAST,
Magnitude Network, MyWay.com, NaviNet, SalesLink, Tribal Voice and ZineZone. The
company's @Ventures affiliates have ownership interests in Lycos, Inc. (Nasdaq:
LCOS), Critical Path (Nasdaq: CPTH), Silknet (Nasdaq: SILK), Chemdex (Nasdaq:
CMDX), MotherNature.com (Nasdaq: MTHR), Asimba.com, AuctionWatch.com, Aureate
Media, blaxxun, BizBuyer.com, Boatscape.com, buyersedge.com, CarParts.com,
CraftShop.com, eCircles.com, eGroups.com, EXP.com, FindLaw, FoodBuy.com,
Furniture.com, HotLinks, INPHO/HomePriceCheck.com, Intelligent/Digital, KOZ.com,
Mondera.com, MyFamily.com, NextMonet.com, NextPlanetOver.com, Oncology.com,
OneCore.com, PlanetOutdoors.com, Productopia, Raging Bull, SnapFish.com, Speech
Machines, hingWorld.com, Vicinity, Virtual Ink, Visto, Vstore and WebCT.
CMGI Corporate headquarters is located at 100 Brickstone Square, Andover, MA
01810. Telephone: 978-684-3600. Fax: 978-684-3814. Additional information is
available on the company's Web site at http://www.cmgi.com.
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# # #
This release contains forward-looking statements based on current expectations
or beliefs, as well as a number of assumptions about future events, and these
statements are subject to important factors and uncertainties that could cause
actual results to differ materially from those described in the forward-looking
statements. The forward-looking statements in this release address a variety of
subjects including, for example, the expected benefits resulting from the
acquisition of Flycast by CMGI, the expected growth in CMGI's advertising and
marketing business, the expected benefits of Flycast's relationships with third
parties, including AdForce, Engage and Adsmart, and the expected functionality
of Flycast's new product offerings. The following factors, among others, could
cause actual results to differ materially from those described in these forward-
looking statements: the risk that Flycast's business will not be successfully
integrated with the business of CMGI; the risk that Flycast's technology and
products
will not successfully combine with those of third parties; risks associated with
the business of Flycast; the adoption of new laws and regulations affecting the
provision of Internet advertising services, including laws and regulations
covering privacy, pricing and content; and increased competition and
technological changes in the industries in which CMGI and Flycast compete. For a
detailed discussion of these and other cautionary statements, please refer to
CMGI's filings with the Securities and Exchange Commission, including CMGI's
Annual Report on Form 10-K for the most recently ended fiscal year.