Online advertising company Eyeblaster says planning initial public offering, again

Eyeblaster plans initial public offering, again

NEW YORK — Online advertising company Eyeblaster Inc. is planning an initial public offering, according to a Securities and Exchange Commission filing on Wednesday, though it did not disclose an expected size or price range.

Two years ago to the day, the New York company, which provides online campaign management software and services to advertisers, said in a regulatory filing that it planned to go public. Eyeblaster indicated at the time that the offering price could total up to $115 million, though it noted that amount was estimated solely to calculate its registration fee and could change.

The company’s profit has grown by about a third from $7.4 million in 2007 to $9.8 million in 2009, Eyeblaster said, while revenue jumped to $65.1 million from $44.7 million.

Proceeds from the IPO would be used for working capital, general corporate purposes and possible acquisitions or investments in new technologies, though none are currently planned, the company said.

Eyeblaster says its software allows its customers to manage campaigns across digital media channels, including online, mobile and in-game, and a variety of formats, including rich media, in-stream video, display and search. The company said it delivered campaigns for about 7,000 brand advertisers last year.

After bogging down in the recession, Internet advertising is regaining momentum even while advertising in print and broadcasts remain in a slump that has triggered mass layoffs, pay cuts and other upheaval.

JPMorgan Securities Inc. and Deutsche Bank Securities Inc. are serving as the lead underwriters for the deal.

Eyeblaster did not list a ticker symbol or say where it will list the stock. In its filing two years ago, the company said it planned to list its shares on the Nasdaq Global Market under the symbol “EYEB.”