* Offers $22 per MediaMind share in cash
* Deal represents 38 pct premium to MediaMind's Wednesday close
* Says MediaMind CEO to serve as co's chief digital officer upon deal close
* MediaMind shares up 38 pct before bell, in-line with offer price (Adds deal details)
June 16 (Reuters) - DG FastChannel Inc is to acquire digital advertising company MediaMind Technologies Inc for about $418 million in an all-cash deal to expand its television and online advertising business globally.
DG FastChannel said the acquisition -- its eight since it was created in 2005 -- would enable the company to penetrate the Latin American, Asian, European and African markets.
New York-based MediaMind, which provides digital advertising campaign management tools to advertising agencies and advertisers, operates in 64 countries.
Under the deal, DG FastChannel will pay MediaMind's shareholders $22 per share in cash, which represents a 38 percent premium to MediaMind's Wednesday close.
Shares of MediaMind were up 38 percent at $22 in trading before the bell on Thursday on Nasdaq.
DG said the deal will be funded with available cash and fully committed debt financing from JPMorgan Chase & Co and Bank of America Merrill Lynch .
The deal, which is expected to close in the third quarter of 2011, will add to DG FastChannel's adjusted earnings per share in 2012.
DG FastChannel, which provides syndicated programming and advertising content to network broadcasters, said MediaMind Chief Executive Gal Trifon will serve as DG FastChannel chief digital officer after the deal closes.
Shares of MediaMind, formerly called Eyeblaster Inc, closed at $15.94 while those of DG FastChannel closed at $28.89 on Wednesday on Nasdaq. (Reporting by Siddharth Cavale in Bangalore; Editing by Sriraj Kalluvila)
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