e-Dialog agrees to be sold for $157 million

GSI Commerce Inc., which provides online commerce services for customers including retailers and manufacturers, said today that it agreed to acquire e-Dialog Inc., a Lexington-based e-mail marketing company, for $157 million in cash and stock.

Under terms of the deal, GSI of Pennsylvania will pay $147.8 million in cash and $9.2 million in stock. It will also make cash payment of $750,000 in fiscal 2009 if revenue targets are made in fiscal 2008.

The deal is expected to close in 30 days. GSI said the acquisition will expand its marketing services portfolio. (AP)