UK private equity investment in the £10M-£10OM market grows by 44%

January 18, 2012 — Fusion DigiNet

Data from the Lyceum Capital and Cass Business School UK Growth Buyout Dashboard shows that the UK has reinforced its position as the preeminent market for private equity investment in Europe, with activity in its lower mid-market having continued its strong recovery in 2011 to pre-recession levels of almost 100 deals.

Highlighting the segment’s robustness despite macro-economic challenges, the UK Growth Buyout Dashboard, revealed 44 per cent growth in the total number of transactions last year to 91, compared to 63 in 2010 and 34 deals in 2009.

The quarterly data, which analyses UK-headquartered private equity control deals in the £10 to £100 million enterprise value space, also shows that total deal value has more than trebled over the past three years, with aggregate values in excess of £3.4 billion last year compared to over £2.2 billion in 2010 and just above £1.0 billion in 2009.

Technology, media and telecommunications (TMT) was the stand-out sector – a trend which is likely to continue, driven by growth in innovative IT solutions such as cloud computing and mobile business applications. 26 TMT deals completed during 2011, contributing to 29 per cent of completed transactions, compared to 11 a year earlier and just four in 2009.

Click here to read the full UK Growth Buyout Dashboard.

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Renren sells online travel booking business eLong to Expedia

November 21, 2011 — Fusion DigiNet

Chinese social networking internet platform Renren has sold its investment in online travel booking business eLong to Expedia for approximately $72.4 million, or $23 per ADS.

“We’re pleased to have an opportunity to increase our investment in eLong as we see China as a key market in our efforts to expand internationally,” said Dara Khosrowshahi, President and Chief Executive Officer of Expedia. “We have been very happy with the strategic and operational progress made by eLong and look forward to many more years of success.”

“Our early investment in eLong helped us build mutually beneficial commercial ties as well as generate strong returns for our shareholders. Renren and eLong will continue to work on a number of joint initiatives, including Nuomi hotel group-buy, one of the largest hotel group-buy sites in China. We will continue this strong relationship with eLong and deliver more popular products together moving forward,” commented Joseph Chen, Chairman and Chief Executive Officer of Renren.

“Renren will continue to be a valued business partner to us, and we look forward to future cooperation with Renren,” said Guangfu Cui, eLong’s Chief Executive Officer.

China, Beijing

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Ebix acquires online health exchange HealthConnect Systems

November 19, 2011 — Fusion DigiNet

Ebix, a supplier of On-Demand software and E-commerce services to the insurance industry, today announced that it has acquired Connecticut based HealthConnect Systems, an online Exchange for buyers and sellers of health insurance and employee benefits. Ebix also announced that HealthConnect would be immediately integrated into its EbixHealth Division.

Ebix expects the transaction to be immediately accretive to Ebix Earnings per Share (EPS). Ebix disclosed that it funded this transaction completely in cash using its bank debt line. No Ebix shares were issued and no investment bankers were involved in the transaction.

Ebix Chairman of the Board, President & CEO Robin Raina said, “Ebix has always been focused on providing end-to-end solutions in every industry segment. With the acquisition of HealthConnect, Ebix now is the only Company in the industry who can take a health insurance transaction across diverse entities like Employers, Brokers, General Agents, Third Party Administrators, Insurance Companies etc. while providing a wide variety of services like CRM, enrollment, online quoting, benefit portals, content management, claims handling, claims accounting, claims adjudication, COBRA, FSA administration to these entities.”

“The HealthConnect online quoting solution and network provides us the missing piece in our Health product portfolio. It brings in top rated insurance companies like Aetna and Horizon to Ebix, providing both sides an opportunity to cross-sell complementary services to each other’s client base.” Robin Raina added, “With 85% plus recurring revenue streams, good history of profitability, consistent margins, low customer attrition rates, proven management record, complimentary technologies and SaaS based architecture, HealthConnect met all the criteria of a good acquisition target for Ebix. This deal is a strategic step forward to establish Ebix as a Health Information Exchange and is likely to be followed by other strategic steps in coming months and years.”

USA, Atlanta, GA

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RapidBuyr acquires BizDeals.com

November 19, 2011 — Fusion DigiNet

RapidBuyr, the daily deal site catering exclusively to small and mid-sized businesses with discounts on B2B products and services, has acquired Los Angeles-based B2B weekly deal site BizDeals.com.

This acquisition adds hundreds of new national sellers to the RapidBuyr network, enhances the company’s business services category and expands the RapidBuyr customer base, community, social assets and distribution footprint.

“We are thrilled to welcome BizDeals and its member network into the growing RapidBuyr community,” said RapidBuyr co-founder and chief marketing officer Darr Aley.

USA, Concord, MA & Los Angeles, CA

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FindaProperty, Primelocation and Zoopla to merge to take on Rightmove

November 7, 2011 — Fusion DigiNet

A&N Media, the consumer media division of DMGT plans to merge the online property business of its Digital Property Group, which includes FindaProperty.com and Primelocation.com, with those of Zoopla Limited operator of Zoopla.co.uk. Zoopla is a privately-owned company which has venture capital interests as its largest shareholders.  Under the proposed merger, A&N Media will retain a 55% interest in the newly merged entity. The merger has been referred to the Office of Fair Trading.

The companies hope that the merged businesses will be able to compete better with Rightmove, the dominant player in the market. Martin Morgan, Chief Executive of DMGT said: “This merger will create a genuine opportunity to challenge the dominant market leader in the online property sector. We believe that the combination of our respective digital property assets will benefit both consumers and clients.”

UK, London

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Groupon’s IPO – what the commentators say

November 7, 2011 — Fusion DigiNet

On Friday Groupon raised $700 million after offering 35 million shares at $20 per share, the largest IPO by an Internet company since Google raised $1.7 billion in 2004. The company’s share prices closed at $26.11, up 30.55 percent.

Here is what is being said about the IPO.

USA, Chicago, IL

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mergermarket Q3 Monthly M&A Insider report

November 2, 2011 — Fusion DigiNet

According to the mergermarket Q3 Monthly M&A Insider report (October 2011), global m&a in the first three quarters of 2011 totalled us$1,718bn – a 21.5% increase from the us$1,414.4bn worth of deals registered in the first three quarters of 2010 – and the financial services sector saw an even steeper 37.4% increase during this nine-month window. The first three quarters of 2011 brought us$208.5bn in financial services deals to market, up from us$151.7bn in the same period last year,

Sectors covered by Fusion DigiNet

The largest sector by market share was Energy, Mining and Utilities at 23.1% (835 deals) down 10% (-125 by volume), in 7th place is Business Services at 4.4% (1,159 deals) -17% (+62 by volume), media is in 8th place at 1.9% (279 deals) +23% (no change by volume).

See the full report at mergermarket

Posted in Broadcasting, Conference/Exhibitions, Consultancy, e-Retail, Energy & Environmental Services, Games, Internet Media, Market Data & Information, Marketing Services, Mobile Apps, Research Reports, ~Asia, ~Europe, ~Latin America and Caribbean, ~Middle East & Africa, ~North America, ~Oceana. Leave a Comment »

Amazon.com Q3 results – sales up 44% to $10.88 Billion, Net income down 73% to $63 million

October 27, 2011 — Fusion DigiNet

Amazon.com has announced financial results for its third quarter ended September 30, 2011.

Highlights

  • Net sales increased 44% to $10.88 billion in the third quarter, compared with $7.56 billion in third quarter 2010. Excluding the $371 million favourable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales would have grown 39% compared with third quarter 2010.
  • Operating income was $79 million in the third quarter, compared with $268 million in third quarter 2010. The favourable impact from year-over-year changes in foreign exchange rates throughout the quarter on operating income was $14 million.
  • Net income decreased 73% to $63 million in the third quarter, or $0.14 per diluted share, compared with net income of $231 million, or $0.51 per diluted share, in third quarter 2010.
  • Operating cash flow increased 19% to $3.11 billion for the trailing twelve months, compared with $2.62billion for the trailing twelve months ended September 30, 2010. 
  • Free cash flow decreased 17% to $1.53 billion for the trailing twelve months, compared with $1.83 billion for the trailing twelve months ended September 30, 2010.
  • Common shares outstanding plus shares underlying stock-based awards totaled 469 million on September 30, 2011, compared with 465 million a year ago.

“September 28th was the biggest order day ever for Kindle, even bigger than previous holiday peak days – we introduced Kindle Fire for $199, Kindle Touch 3G for $149, Kindle Touch for $99, and our all new Kindle for only $79,” said Jeff Bezos, founder and CEO of Amazon.com. “In the three weeks since launch, orders for electronic ink Kindles are double the previous launch. And based on what we’re seeing with Kindle Fire pre-orders, we’re increasing capacity and building millions more than we’d already planned.”

 

Fourth quarter 2011 guidance from Amazon

The following forward-looking statements reflect Amazon.com’s expectations as of October 25, 2011. Our results are inherently unpredictable and may be materially affected by many factors, such as fluctuations in foreign exchange rates, changes in global economic conditions and consumer spending, world events, the rate of growth of the Internet and online commerce and the various factors detailed below.

  • Net sales are expected to be between $16.45 billion and $18.65 billion, or to grow between 27% and 44% compared with fourth quarter 2010.
  • Operating income (loss) is expected to be between $(200) million and $250 million, or between 142% decline and 47% decline compared with fourth quarter 2010.
  • This guidance includes approximately $200 million for stock-based compensation and amortization of intangible assets, and it assumes, among other things, that no additional business acquisitions or investments are concluded and that there are no further revisions to stock-based compensation estimates.

USA, Seattle, WA

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kgbdeals acquires New York City’s TheDealist

October 26, 2011 — Fusion DigiNet

kgbdeals has acquired TheDealist, a New York City based independent daily deal website.  The acquisition further expands kgbdeals’ presence in New York City, which was its first market to launch in 2010.

Patrick Albus, CEO, kgbdeals USA said,  ”We welcome TheDealist’s members and merchant partners to the kgbdeals family, and look forward to providing them with an expanded range of products and services.  We are also excited to add innovative co-founders, Eli Brill and Isabella Chung, to our leadership team.”

USA, New York, NY

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Sainsbury’s acquires Global Media Vault

October 25, 2011 — Fusion DigiNet

Sainsbury’s has acquired online entertainment company Global Media Vault Ltd from MBL PLC for £1 million. The acquisition will support the retailer’s drive into the growing online and digital entertainment market following the launch of the Sainsbury’s Entertainment website in November 2010.

Global Media Vault Ltd is a white label online digital entertainment business operating with Sainsbury’s as its main client. It began trading in January 2009 and has developed a unique entertainment ecommerce and digital media platform. GMV’s digital database already includes over three million music, film and game assets for the UK market, all of which can be browsed, purchased and distributed via web, mobile, TV and kiosk applications.

Luke Jensen, Sainsbury’s Group Development Director, said, ”Online retailing and the delivery of digital content will play a key role in the future of entertainment so this is an important acquisition for Sainsbury’s. Taking full control of GMV Ltd will enable us to develop our existing Sainsbury’s Entertainment website even further enhancing the functionality and customer experience, meaning customers will soon be able to buy, rent or stream content from Sainsbury’s.”

UK, London

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