Xinhua Sports & Entertainment Limited to acquire NuCom Online Corporation

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ACQUISITION 
FDN Database Reference:  F231109-259
 
Acquirer:  Xinhua Sports & Entertainment Limited
ACQ Web:  http://www.xsel.com/en/
Location:  China, Beijing
Region:  Asia
Description:  Sports and entertainment media company in China,
Category:  Media
Contact 1:  Ms. Fredy Bush, CEO
Contact 2:  Tina Ju, Managing Partner of KPCB China  
 
Vendor:  NuCom Online Corporation
Vendor Web:  http://www.nubb.com
Location:  China, Beijing
Region:  Asia
Description:  A leading sports media company. NuBB provides broadband sports content, including live and delayed NBA games and highlights, and has one of the largest online sports communities in China with over 8 million registered users, 1.5 million average daily click-thru of video highlights, and over 15 million monthly unique visitors.
Category: Media
Contact:  Mr. Allen Hsu will join XSEL as a new independent director of the board
 
Aprox. Value:  NuCom is valued at US$27.6 million. XSEL will issue approximately 8.5 million American depositary shares, (or “ADS”) valued at US$1.83 per ADS.  An additional 6.6 million ADS will be issued only if NuBB achieves certain revenue targets for 2010 and 2011.  Management believes NuBB may generate average annual net income of US$2.3 million for the period between 2010 to 2012.
 
Details:  Xinhua Sports & Entertainment Limited (NASDAQ:XSEL; “XSEL”) has entered into an agreement to acquire NuCom Online Corporation (“NuCom”). As a result of the transaction, shareholders of NuCom including KPCB China will become shareholders of XSEL.
 
Link: Press Release

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