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DoubleClick, Inc. (Nasdaq: DCLK) picked up 5/8 to 19 7/8 Tuesday after the online advertiser announced patent litigation settlements with two rivals.
New York-based DoubleClick said 24/7 Media (Nasdaq: TFSM) and L90 (Nasdaq: LNTY) have settled their respective claims and counterclaims.
DoubleClick said it and 24/7 Media granted each other "certain rights in certain of their respective patents." No other terms of the settlement agreement were disclosed. DoubleClick and L90 will also grant each other "certain rights" regarding patents.
Shares of 24/7 Media rose 1/4 to 5 5/8, while L90 fell 1/4 to 6.
On Monday, DoubleClick announced a pair of new wireless advertising ventures. The company and OmniSky Corp. (Nasdaq: OMNY) will begin a trial next month using ads on OmniSky's service, which provides Internet and e-mail services via wireless devices.
After receiving feedback following the trial period, the companies plan to roll out the service in the first quarter of next year.
"The wireless Internet services industry has an opportunity to create an effective advertising model, if we stay focused on what is relevant to users and develop standards that work," said OmniSky president Barak Berkowitz.
"DoubleClick and OmniSky have a shared vision for the effective development of the wireless advertising industry," said Jamie Byrne, strategic director for emerging platforms at DoubleClick.
Separately, DoubleClick said it would partner with Vindigo, which makes a navigation platform for handheld devices, to test ads on such devices beginning in the first quarter.
The trials will begin in such major markets as New York City, San Francisco, California, Chicago, Illinois and Boston, Massachusetts.
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