Rocket Fuel’s Board Rejects Unsolicited Conditional Proposal
May 13 2015 - 8:30AM
Business Wire
Rocket Fuel (NASDAQ:FUEL), a leading programmatic marketing
platform provider that uses artificial intelligence (AI) at Big
Data scale to optimize marketing ROI for global agencies and
enterprise marketers, issued a press release on May 8, 2015 stating
that it had received an unsolicited, conditional proposal from
Gravity4 to acquire Rocket Fuel.
Consistent with its fiduciary duties, the Rocket Fuel Board of
Directors, in consultation with its independent advisors, has
evaluated the proposal and concluded that the proposal, which is
highly conditional and inconsistent with customary public company
transactions, is not credible. Rocket Fuel sent the following
response letter to Gravity4 today.
Dear Mr. Chahal,
We are in receipt of your letter dated May 7, 2015 regarding
your proposal to acquire Rocket Fuel. Our board of directors has
evaluated your proposal in consultation with its independent
advisors and concluded that the highly conditional and
non-customary nature of your proposal does not constitute a
credible offer.
Sincerely,
Monte Zweben
Interim Chief Executive Officer
About Rocket Fuel
Rocket Fuel combines the science of Artificial Intelligence with
the scale of Big Data to improve the effectiveness of programmatic
marketing. Customers trust Rocket Fuel's Marketing That Learns® to
achieve brand and direct-response objectives in diverse industries
across North America, Latin America, Europe, and APAC. With the
acquisition of marketing technology firm [x+1] in September of
2014, Rocket Fuel now offers a complete programmatic marketing
platform for the world's most innovative, always-on marketers. The
platform includes data management, programmatic media-buying, site
optimization, and predictive analytics capabilities that extend
across a marketer's paid and owned channels, and personalize every
customer interaction. Rocket Fuel operates in more than 20 offices
worldwide and trades on the NASDAQ Global Select Market under the
ticker symbol "FUEL." For more information, please visit
http://www.rocketfuel.com or call 1-888-717-8873. Rocket Fuel, the
Rocket Fuel logo, Advertising That Learns and Marketing That Learns
are trademarks or registered trademarks of Rocket Fuel Inc. in the
United States and other countries.
Investor Relations Contact:The Blueshirt GroupWhitney
Kukulka, 415-489-2187ir@rocketfuel.comorMedia Contact:Rocket
FuelKenya Hayes, 650-481-6178pr@rocketfuel.com
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