ValueClick to buy comparison shopping site operator

(Reuters) - Online marketing company ValueClick Inc. said it agreed to buy privately held MeziMedia Inc. in a cash deal worth at least $100 million, to expand its U.S. comparison shopping segment and create a presence in China.

The Westlake Village, California-based company said total value of the deal could go up to about $352 million if certain performance targets were met by Mezimedia.

ValueClick, which provides comparison shopping in Europe under the PriceRunner brand, said it expects the deal to close in August and add to its earnings per share.

MeziMeida is a U.S. comparison shopping Web site operator. Comparison shopping Web sites allow consumers to compare and research products online.

After the close of the transaction, MeziMedia's management will join ValueClick and continue to lead the MeziMedia business.

In 2006, MeziMedia was profitable and had revenue of about $40 million.

Shares of ValueClick were down 41 cents at $29.25 in morning trade on the Nasdaq.

(Reporting by Ramya Dilip in Bangalore)