Media Metrix, Inc. (Nasdaq: MMXI) was down 2 1/4 to 26 in early trading Tuesday after the Internet trend-tracking company agreed to buy Jupiter Communications, Inc. (Nasdaq: JPTR) for stock valued at $414 million.
Media Metrix gathers information on Internet trends — a division of the company released a report Monday on online ad spending, for example — and Jupiter analyzes and forecasts developments. A Jupiter report Monday looked at the outlook for B2B e-commerce.
The combined company will be called Jupiter Media Metrix, and will have a market value of more than $1 billion.
Jupiter was up 7/8 at 23 7/8.