Eyeblaster Cancels IPO (EYEB)

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Eyeblaster, Inc. has just withdrawn its registration statement with the SEC for its planned initial public offering.  You can guess the reasons… "because of unfavorable market conditions that would adversely affect the offering of the shares of common stock."  This would have been a very unique public company because of the advertising segment it is in.

Eyeblaster is an independent provider of online campaign managementsolutions and services to advertising agencies and advertisers acrossdigital media channels.  More specifically, it targets online, mobileand in-game, and a variety of formats, including rich media, in-streamvideo, display and search.

Lehman Brothers and Deutsche Bank weresupposed to be the joint book-runners, while co-managers were going tobe UBS and Pacific Crest Securities.

We covered the filing for an IPO back in March, and there you can see the full details of the company.  We have also noted over and over how the video game industry has signaled very tough times ahead for 2009, so this might not be a surprise to anyone that an in-game advertiser is facing issues too.

Jon C. Ogg
December 24, 2008