@Home Networks Inc said Wednesday that it successfully closed it acquisition of web advertising firm Narrative Communications Corp. Final closing price for the deal was $96m, based on @Home’s closing price on December 30. When the deal was announced in December, it was initially said to worth up to $103m, depending upon the number of @Home shares to be issued. Under the final terms of the agreement, @Home acquired all outstanding shares and assumed all outstanding options and warrants of Narrative in exchange for 1.35 million shares of its common stock. The acquisition is being accounted for as a purchase, and @Home says that a substantial majority of the purchase price will be allocated to intangible assets and amortized over several years, with the rest resulting in an unspecified charge to operations related to in-process research and development.
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