http://biz.yahoo.com/prnews/081006/lnm002.html?.v=3
The large premium blinkx offered in our initial proposal is even more significant today in light of MIVA's second quarter earnings miss, subsequent downward revision of annual guidance, and public disclosure related to restructuring of the Media EU business. By choosing not to engage in substantive discussions in any material respect and an agreement with blinkx, MIVA Board and management in our view have failed to give due consideration to a transaction that had a uniquely attractive opportunity for MIVA shareholders, particularly in light of several challenges MIVA faces in the near term."
Monday, October 6, 2008
GSI Commerce to Acquire Innotrac Corporation
http://biz.yahoo.com/prnews/081006/ny37075.html?.v=1
Leading e-commerce and multichannel solutions provider, GSI Commerce Inc. (Nasdaq: GSIC - News), today announced it has signed a definitive agreement to acquire Innotrac Corporation (Nasdaq: INOC - News).
For the trailing 12 months ending June 30, 2008 Innotrac recorded net revenues of $128.2 million, income from operations of $4.5 million and non-GAAP income from operations of $9.1 million. Non-GAAP income from operations equals income from operations plus $0.2 million of stock-based compensation expenses and $4.4 million of depreciation and amortization expenses.
Under the definitive agreement, which has been approved by the boards of directors of both companies, GSI will acquire Innotrac for $52 million, consisting of cash of $22 million and shares of GSI common stock valued at $30 million, or 1,841,621 shares at $16.29 per share, the volume weighted average price over the 20 days prior to signing. As of June 30, 2008 Innotrac had net debt of $9.9 million, making the aggregate value of the transaction $61.9 million.
Leading e-commerce and multichannel solutions provider, GSI Commerce Inc. (Nasdaq: GSIC - News), today announced it has signed a definitive agreement to acquire Innotrac Corporation (Nasdaq: INOC - News).
For the trailing 12 months ending June 30, 2008 Innotrac recorded net revenues of $128.2 million, income from operations of $4.5 million and non-GAAP income from operations of $9.1 million. Non-GAAP income from operations equals income from operations plus $0.2 million of stock-based compensation expenses and $4.4 million of depreciation and amortization expenses.
Under the definitive agreement, which has been approved by the boards of directors of both companies, GSI will acquire Innotrac for $52 million, consisting of cash of $22 million and shares of GSI common stock valued at $30 million, or 1,841,621 shares at $16.29 per share, the volume weighted average price over the 20 days prior to signing. As of June 30, 2008 Innotrac had net debt of $9.9 million, making the aggregate value of the transaction $61.9 million.
Thursday, October 2, 2008
AMP Agency Buys Fulgent Media Group
AMP Agency has purchased Fulgent Media Group, a media agency that offers strategy and placement services with a focus across emerging digital media platforms.
he deal enhances AMP Agency’s existing advertising services by bringing new options into the fold to offer its clients. Effective immediately, Fulgent will be renamed AMP Media Services.
Both AMP Agency and Fulgent are based in Boston. Fulgent’s office there will close and its 12 employees will join AMP Agency’s 120, said AMP Agency spokesperson Jodi Smith.
http://promomagazine.com/peoplenews/amp_buys_fulgent_group_0926/
he deal enhances AMP Agency’s existing advertising services by bringing new options into the fold to offer its clients. Effective immediately, Fulgent will be renamed AMP Media Services.
Both AMP Agency and Fulgent are based in Boston. Fulgent’s office there will close and its 12 employees will join AMP Agency’s 120, said AMP Agency spokesperson Jodi Smith.
http://promomagazine.com/peoplenews/amp_buys_fulgent_group_0926/
Outsell: Information industry to reach $466 billion by 2011
Research company Outsell projects that revenue for the worldwide information industry is on track to reach $466 billion by 2011.
In its newly released “2008 Information Industry Market Size, Share & Forecast Report,” Outsell forecasts a compound annual growth rate of 4.5% for the information industry from this year through 2011, with the market essentially holding steady in 2009 and beyond despite the challenging economy and a contracting news segment.
In its newly released “2008 Information Industry Market Size, Share & Forecast Report,” Outsell forecasts a compound annual growth rate of 4.5% for the information industry from this year through 2011, with the market essentially holding steady in 2009 and beyond despite the challenging economy and a contracting news segment.
Promotional products feel pinch as firms cut back on freebies
http://www.boston.com/business/articles/2008/09/24/promotional_products_feel_pinch_as_firms_cut_back_on_freebies/
But these are not easy times in the promotional-product business. Nationally, manufacturers and distributors have been hit by shrinking marketing budgets brought on by the economic downturn. Also, the Pharmaceutical Research and Manufacturers of America, a drug-industry trade group, has adopted a voluntary ethics code banning gifts to doctors. And in Massachusetts, recently adopted regulations make it mandatory for doctors to report gifts from pharmaceutical companies that are worth more than $50.
"There are some guys who sold exclusively to the pharmaceuticals, and for them the shift is going to be huge," said Steve Hettrick of Lawrence-based Gemline, which sells tote bags, pens, and corporate gifts. "And those guys are going to start looking for business in other industries, which is going to increase competition for everyone."
So far, Hettrick said, Gemline has avoided a significant sales drop but the company has seen customers looking for cheaper products. "They're still ordering the same number of pieces, but instead of going for the $25 tote bag, they're looking for totes in the $2 to $5 range," he said.
But these are not easy times in the promotional-product business. Nationally, manufacturers and distributors have been hit by shrinking marketing budgets brought on by the economic downturn. Also, the Pharmaceutical Research and Manufacturers of America, a drug-industry trade group, has adopted a voluntary ethics code banning gifts to doctors. And in Massachusetts, recently adopted regulations make it mandatory for doctors to report gifts from pharmaceutical companies that are worth more than $50.
"There are some guys who sold exclusively to the pharmaceuticals, and for them the shift is going to be huge," said Steve Hettrick of Lawrence-based Gemline, which sells tote bags, pens, and corporate gifts. "And those guys are going to start looking for business in other industries, which is going to increase competition for everyone."
So far, Hettrick said, Gemline has avoided a significant sales drop but the company has seen customers looking for cheaper products. "They're still ordering the same number of pieces, but instead of going for the $25 tote bag, they're looking for totes in the $2 to $5 range," he said.
WPP likely to succeed on hostile offer for Taylor
http://www.thedeal.com/dealscape/2008/10/wpp_likely_to_succeed_on_hosti.php
With one day to go, advertising company WPP Group plc Thursday looked likely to triumph with its £1.2 billion ($2.14 billion) hostile offer for Taylor Nelson Sofres plc.
With one day to go, advertising company WPP Group plc Thursday looked likely to triumph with its £1.2 billion ($2.14 billion) hostile offer for Taylor Nelson Sofres plc.
Subscribe to:
Posts (Atom)
