Internet Advertising Revenues Hit $7.3 Billion in Q1 ’11 Highest First-Quarter Revenue Level on Record According to IAB and PwC

May 30, 2011 — Fusion DigiNet

Internet advertising revenues in the U.S. hit $7.3 billion for the first quarter of 2011, representing a 23 percent increase over the same period in 2010, according to figures released today by the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers (PwC). This marks the highest first-quarter revenue level ever for the industry and a significant increase over last year’s first-quarter revenue level, which had been the highest on record to date.

“The consistent and considerable year-over-year growth we’re seeing demonstrates that digital media is an increasingly popular destination for ad dollars, and for good reason,” said Randall Rothenberg, President and CEO of the IAB. “As Americans spend more time online for information and entertainment purposes, digital advertising and marketing has emerged as one of the most effective tools businesses have to attract and retain customers.”

“The year-on-year 23 percent increase in first quarter revenues is not just impressive in its own right, but especially so when you take into account the fact that 2010 was a record-breaking year itself for Internet advertising revenue,” said David Silverman, a partner at PricewaterhouseCoopers LLP. “These numbers indicate that the interactive advertising field hasn’t simply bounced back since the recession; it’s growing with dynamic energy.”

The full report is issued twice yearly for full and half-year data, and top-line quarterly estimates are issued for the first and third quarters. Past reports are available at www.iab.net/AdRevenueReport.

USA, New York, NY

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Walmart Global eCommerce invests in Yihaodian, an eCommerce Business in China

May 13, 2011 — Fusion DigiNet

Wal-Mart Stores is to acquire a minority stake in the holding company of Yihaodian, a fast-growing eCommerce company in China. The transaction is expected to close within 60 days.

Launched in July 2008, Yihaodian offers more than 75,000 SKUs and has achieved a significant position in online grocery sales, as well as in categories such as baby/Mom, consumer electronics and apparel.  With 2,000 employees and an existing logistics network based in Shanghai, Beijing, and Guangzhou, Yihaodian is serving a growing customer base with next-day delivery of essential daily items at competitive prices.

Eduardo Castro-Wright, vice chairman, Wal-Mart Stores, Inc. and CEO of Walmart Global eCommerce and Global Sourcing, said, “We are excited about this investment.  Online sales in China are growing rapidly and are projected to match U.S. online sales in the next few years.  By investing in Yihaodian, we’re continuing to establish a presence in this important eCommerce market, and are moving forward on fulfilling our aspiration of being the leading global multichannel retailer.”

Wan Ling Martello, executive vice president, Global eCommerce, Emerging Markets, said, “We are very impressed with Yihaodian’s strong management team, solid competence in distribution and outstanding service to their customers.  We have been equally impressed by the fact that their values are consistent with ours.  We very much look forward to working closely with them going forward.”

Gang Yu, co-founder chairman of Yihaodian, said, “We are very excited about Walmart’s investment in Yihaodian.  Walmart brings its global vision into our business. In addition, its supply chain excellence will help us gain a competitive edge in the eCommerce industry in China.”

USA, Bentonville, AR and China, Shanghai, Beijing, and Guangzhou

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UBM plc acquires AMB exhibitions business in South East Asia

May 12, 2011 — Fusion DigiNet

UBM has acquired the business and assets of AMB Exhibitions Sdn Bhd and AMB Events Sdn Bhd in Malaysia, Vietnam and the Philippines, on behalf of UBM Asia.

Established in 1996, AMB operates five exhibitions in Malaysia and Vietnam, with four further new events planned for this year – three in the Philippines and one in Vietnam. The shows serve the water, livestock, energy, and mechanical/electrical industries.

AMB’s two largest shows are AsiaWater and ASEAN M&E Expo, which together account for approximately two thirds of 2010 revenue. AsiaWater is a biennial exhibition focused on environmental protection, soil erosion, flood control, sanitation, wastewater and resource management; its sixth edition was held at the Kuala Lumpur Convention Centre in Malaysia in April 2010, covering 4,000 net square metres. ASEAN M&E Expo is a biennial umbrella event encompassing security and fire protection, ventilation, air conditioning, energy and power; the 2010 show – also held at the Kuala Lumpur Convention Centre – covered 4,500 net square metres.

In 2010 the business generated revenues of approximately $4m. AMB’s founder Andrew Siow Kwang Vian will remain with the business as a consultant following the acquisition, together with his team of 15 employees. The business is headquartered in Malaysia.

Jimé Essink, President & Chief Executive Officer of UBM Asia said:

“The acquisition of AMB accelerates the expansion of UBM’s exhibition business into South East Asia. UBM has existing interests in the core industries served by AMB’s shows and complementary footprints in three of the region’s fastest growing economies – the Philipines, Malaysia and Vietnam – as well as successful operations in Thailand and Singapore. I would like to welcome Andrew Siow Kwang Vian and his team into UBM Asia and I look forward to working with them to drive the business forward in close co-operation with M.Gandhi, Managing Director of UBM in Malaysia and Thailand.”

Malaysia, Vietnam and the Philippines

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Publicis Groupe acquires Beijing-based Dreams

May 12, 2011 — Fusion DigiNet

Publicis Groupe has acquired Dreams Communication, a Chinese agency which serves the healthcare and consumer industries.

Dreams will become part of Publicis Healthcare Communications Group (PHCG) and will be renamed Publicis Life Brands Dreams. The acquisition extends the PHCG China footprint and marks the network’s second acquisition in the Asia Pacific region this year, following Watermelon in India in March.

Founded in 2003, Dreams employs nearly 50 people and offers advertising and design, digital, medical education, and event planning services to mainly pharmaceutical and healthcare clients. Its clients include Novartis, Novo Nordisk, Pfizer, Xian-Janssen, Beijing FH Land, and the Ministry of Culture of China.

Bin (Simon) Sun will remain at the helm of Dreams and take the title of Managing Director, Publicis Life Brands Dreams, along with Kathy Zhao, who will become General Manager, Publicis Life Brands Dreams.

Nick Colucci, CEO and President of PHCG, said, “Adding Dreams to the PHCG portfolio further advances our key strategy to enhance our presence in emerging markets. We are especially excited to have expanded our offering in China-a market we see with tremendous potential for healthcare communications.” Bin (Simon) Sun, Managing Director of Publicis Life Brands Dreams, added, “I am pleased that Dreams will become part of the Publicis Healthcare Communications Group. This is an important step in our growth strategy. Working alongside PHCG agencies allows us to benefit from the global expertise of the leading healthcare communications network and will allow us to become a leading healthcare agency in China.”

France, Paris & China, Beijing

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Changyou.com to acquire a majority stake in 7Road

April 29, 2011 — Fusion DigiNet

Changyou.com, an online game developer and operator in China, has entered into a definitive agreement with Shenzhen 7Road Technology Co. under which it will acquire 68.258% of the equity of Shenzhen 7Road Technology Co., Ltd. and its affiliates, a web-based game company in China. 7Road is a developer of Web-based games and the creator of DDTank, one of the most popular multiplayer Web-based shooting games in China.

Changyou will acquire 68.258% of the equity of 7Road for fixed cash consideration of approximately $68.26 million, plus additional variable cash consideration of up to a maximum of $32.76 million that is contingent upon the achievement of specified performance milestones through December 31, 2012. The acquisition is expected to be completed by June 30, 2011.

“Web-based games, which can be played in a browser without installation of a client application, are experiencing rapid growth and this is the right time to invest to and enter this space,” said Mr. Tao Wang, Changyou’s chief executive officer. “Changyou has been leading the market for massively multiplayer online games in China, and with the addition of a proven development team from 7Road, their successful game and wide network of partner websites, we are pushing forward in our plans to reach new audiences with the addition of quality products designed for different consumers.”

China, Beijing

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VC Funding in the solar sector off to a Strong Start With Q1 Coming in at $658 Million

April 12, 2011 — Fusion DigiNet

Mercom Capital Group, llc, a global clean energy communications and consulting firm, today released funding and merger and acquisition (M&A) activity in the solar sector for the first quarter of 2011.Venture capital (VC) funding in the solar sector came in at $658M in 25 deals, compared to $238M in the previous quarter. The trend was similar with M&A activity amounting to $1.4B in 18 transactions for Q1, compared to $266M in Q4 2010.

“Looking at the first quarter funding activities, it is clear that VC investor’s appetite for solar has not gone away. In fact, this was the best VC funding quarter since Q2 of 2010 and the second best quarter since Q4 of 2008,” commented Raj Prabhu, Managing Partner at Mercom Capital Group.The top five funding deals were $201M raised by BrightSource Energy, a concentrated solar power (CSP) company. MiaSole, a CIGS thin-film panel maker raised $106M; Alta Devices, a GaAs thin-film developer raised $72M; Solopower, a CIGS flexible thin-film maker, raised $51.6M; and Kiran Energy, a project developer raised $30M.

Thin film companies attracted the most funding with $283M raised in seven deals. CIGS was the most popular technology within thin films accounting for $196M in four deals. CSP companies raised $212M in three deals, followed by $84M raised by solar downstream companies in six deals.Top VC investors included Crosslink, Vantage Point, Convexa, Hudson Clean Energy and Kleiner Perkins.

In continuing with last year’s trend, VC arms of companies remained active in the sector, including Alstom, BP, GE, Chevron, Dow Chemical, Intel and Hanwha. California State Teachers’ Retirement System (CalSTRS), a pension fund, also invested.

Of the $9.8B announced in debt and other funding, Jinko Solar received $7.6B in credit from Bank of China.

For a complete list of solar transactions, visit: http://mercomcapital.com/cleanenergyreports.php

USA, Austin, TX

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DST Global launches new fund and invests in Spotify and 360buy

April 1, 2011 — Fusion DigiNet

According to Quintura Blog, Yuri Milner‘s  DST Global, which has made investments in Facebook, Zynga and Groupon, has launched a new fund, DST Global – 2 that will have international investors as limited partners. DST Global – 2will invest in later stage, high growth companies, reported newspaper Vedomosti. Its first investment was one in Groupon in January 2011.

DST Global – 2 is investing $50 million for a 5 percent stake in online music service Spotify, and investing in 360buy the largest Chinese online retailer, by joining its funding round,

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Calgon Carbon acquires remaining interest in Calgon Carbon Japan

April 1, 2011 — Fusion DigiNet

Calgon Carbon Corporation, a business that provides services and solutions for making water and air safer and cleaner, has acquired Calgon Carbon Japan KK (CCJ), the former joint venture between Calgon Carbon Corporation (Calgon Carbon) and Mitsubishi Chemical Corporation (MCC). The transaction occurred in accordance with the Redemption, Asset Transfer and Contribution Agreement which was executed by MCC and Calgon Carbon in 2010.

Calgon Carbon had increased its ownership of the joint venture from 49% to 80% on March 31, 2010 through the redemption of MCC shares and had changed the name to Calgon Carbon Japan KK. On March 31, 2011 the company completed the acquisition of CCJ. Leading up to the March 2011 transaction, Calgon Carbon negotiated certain claims with MCC and the final 20% was acquired without payment of any additional cash. CCJ is now a wholly owned subsidiary of Calgon Carbon.

The total purchase price of the MCC shares, subject to adjustment for changes in net asset value, is ¥951,000,000 (approximately $10.6 million). Of the total, ¥722,810,146 will be paid at the closing on March 31, 2010, and ¥228,189,854 will be paid in March 2011. Calgon Carbon will also assume MCC’s share of CMCC’s debt which is estimated to be ¥714,000,000 ($7.9 million). The closing is subject to certain conditions typically associated with this type of transaction.

John S. Stanik, Calgon Carbon’s president and chief executive officer added, “This is an important acquisition for our company. It represents a major step in implementing our strategic initiative to increase Calgon Carbon’s presence in Asia, and significantly strengthens our core capability in that region.”

USA, Pittsburgh, PA & Japan, Tokyo

 

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Publicis Groupe acquires healthcare advertising agency Watermelon

March 23, 2011 — Fusion DigiNet

Publicis Groupe is acquiring a majority stake in a healthcare advertising agency in Mumbai, India-Watermelon Healthcare Communications Private Limited. On completion of this transaction, this entity will become part of Publicis Healthcare Communications Group (PHCG) and will be renamed Publicis Life Brands Watermelon. This transaction is subject to customary local closing conditions.

As one of the leading healthcare advertising agencies in India, Watermelon is a full-service advertising agency that has built its business around traditional and new media since its inception in 2003. Nearly 40 employees work to deliver strategic planning, digital and branding, creative, medical education, research, public relations, and healthcare professional and consumer communications. Watermelon has worked hard to boost its creative excellence and has received many awards, including 12 awards of excellence at the recent Rx Awards. Watermelon’s clients includes many of the top pharma and biotech companies-AstraZeneca, GlaxoSmithKline, Johnson & Johnson, Merck Specialties, MSD Pharmaceuticals, and Novartis to name a few.

Watermelon’s founders, Abhijit Shitut and Kiran Pai, will be named joint Managing Directors at Publicis Life Brands Watermelon. “We are excited to be part of PHCG and believe this will help us change the landscape of healthcare communications in India” commented Abhijit Shitut and Kiran Pai. “Because PHCG is revered for its excellence in global communications in the healthcare sector, we look forward to working together in leveraging their knowledge and global network in our local market”;

Ash Kuchel, President, PHCG Asia Pacific region (APAC) said, “PHCG is delighted to welcome Watermelon to our network. Watermelon is the right fit and has the expertise to further develop our healthcare communications credentials in new media and best-in-class practices in this important and rapidly emerging market. PHCG will continue to expand its global presence throughout the region in the near future.”

France, Paris & India, Mumbai

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WPP acquires Who Digital in Vietnam

March 23, 2011 — Fusion DigiNet

WPP announces that it has agreed to acquire the business of Who Digital, the leading full service digital agency in Vietnam, subject to regulatory approvals. Who Digital and OgilvyOne in Vietnam will form a joint venture in which WPP will take a majority stake.

Founded in 2005, Who Digital employs 25 people and is based in Ho Chi Minh City. Clients include Unilever, Megastar, HSBC, Baoviet and Sony Ericsson.

Who Digital’s unaudited gross assets as 31 December 2010 were VND 13.8 billion.

This investment continues WPP’s strategy of developing its networks in fast growing markets and sectors. Vietnam is a key market, where WPP has been operational through its companies for more than 10 years. Vietnam is one of the fastest growing markets in the world, identified by Goldman Sachs as one of the ‘Next 11’ world economies to watch. It has a population of 87 million and a forecast GDP growth rate of 7% in 2011, according to HSBC.

In 2009, Ogilvy acquired a majority stake in T&A Communications, a leading public relations and events agency in Vietnam. Prior to that, WPP acquired 20% of Smart Media, and GroupM, WPP’s media division, took stakes in three subsidiaries of the DacvietVAC Group Holdings.

Vietnam, Ho Chi Minh City

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