IPC Media sells Hi-Fi News to MyHobbyStore

October 31, 2010 — Fusion DigiNet

As part of the review of IPC Media’s niche and specialist titles, the company has sold Hi-Fi News to MyHobbyStore.

Published since 1956, Hi-Fi News delivers the latest news, analysis and opinions on new technologies, products and formats from hi-fi to home entertainment.

The deal sees MyHobbyStore acquire the brand – currently published within the IPC Inspire portfolio – with immediate effect. There will be no interruption to the publishing schedule of the title.

MyHobbyStore publishes some of the best known specialist hobby magazines in the UK, including titles such as RCM&E, Model Engineer, Model Boats and Good Woodworking. IPC Media announced the sale of Model Collector and Stamp Magazine to MyHobbyStore earlier this month.

IPC Inspire managing director Paul Williams says: “MyHobbyStore, with its passion for hobby brands, is the perfect new home for Hi-Fi News. As Hi-Fi News joins Stamp Magazine and Model Collector at MyHobbyStore I’d like to thank the team for all of their hard work, particularly over the course of the review process and acquisition negotiations. They have done a fantastic job and I wish them all the very best for the future.”

MyHobbyStore CEO Owen Davies adds: “Hi-Fi News is an outstanding magazine written for enthusiasts by enthusiasts. We are delighted to welcome the highly dedicated and experienced team to join our growing number of specialist titles.”

Staff transfer to MyHobbyStore with immediate effect.

UK, London

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Apax to sell Hit Entertainment

October 31, 2010 — Fusion DigiNet

According to the Telegraph, private equity firm Apax will put Hit Entertainment – owner of Bob the Builder and Angelina Ballerina – up for sale following interest from US groups including Mattel and Disney. Apax is close to appointing either UBS or Bank of America Merrill Lynch after shortlisting the two banks to manage the sales process. The private equity group hopes to sell the business for as much as $1.5bn (£950m).

UK, London

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Apax Partners target Moneysupermarket

October 31, 2010 — Fusion DigiNet

According to the Telegraph, Moneysupermarket has been targeted by private equity group, Apax Partners, as it seeks to combine the price comparison site with its US business, Bankrate.

The Telegraph also reports industry sources as saying that the group could also prove interesting to other private equity groups and trade players such as Google and Barry Diller’s InterActiveCorp: and that other private equity groups have been running the slide rule over it.

UK, London

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Mail.ru Group announces price range for initial public offering of $23.70 TO $27.70 per share

October 27, 2010 — Fusion DigiNet

As previously reported on Fusion digiNet, Mail.ru Group is seeking an initial public offering on the London Stock Exchange. They have now announced  the indicative price range for the offering of ordinary shares.

The indicative price range for the Offering has been set at US$23.70 to US$27.70 per GDR.  The indicative price range implies an equity value for the Company of $4.78 billion to $5.63 billion prior to new share issue and $4.86 billion to $5.71 billion post new share issue.
 
The Offering comprises a primary offering of 3.03 million ordinary shares by the Company in the form of GDRs and a sale of 28.59 million ordinary shares by existing shareholders in the form of GDRs.  This will represent a free float, post new share issue, of approximately 16%.  The final number of shares being sold in the Offering will be confirmed prior to admission.
 
The net proceeds to the Company from the primary portion of the Offering will be used to fund, in part, the agreed acquisition of an additional 7.5% equity stake in vKontakte for $112.5 million. After the closing of the Transaction, the Company will own 32.49% of vKontakte. The Company is also purchasing an option to acquire an additional 7.5% equity stake in vKontakte over the next year, which if exercised would bring its stake to 39.99%.
 
The Company has appointed Goldman Sachs International and J.P. Morgan as Joint Global Co-ordinators and, together with Morgan Stanley and VTB Capital, Joint Bookrunners in connection with the Offering. Pacific Crest Securities has been appointed Co-lead Manager in connection with the Offering.

UK, London & Russia, Moscow

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Hart Energy acquires Rextag Mapping & Data Services

October 27, 2010 — Fusion DigiNet

Hart Energy Publishing, a leading provider of news, information and data to the global energy industry, has acquired Rextag Strategies, a mapping and GIS (geographic information system) database services company, in an all-cash deal.  Both firms are privately held and terms of the transaction were not disclosed.

The Rextag acquisition adds to Hart Energy’s growing content portfolio with the addition of digital GIS databases and mapping services, custom digital cartography, pipeline flow and capacity data, energy infrastructure wall maps and reference books, all covering oil, gas, and other liquid pipeline operations throughout the United States

“Our staff brings years of experience with GIS (Geographic Information Systems) and in-depth industry knowledge to ensuring the latest, most up-to-date and comprehensive information available,” said Reinold (Rey) Tagle, Rextag’s founder.  “Joining forces with Hart Energy will allow us to compete for larger projects and meet the expectation of the largest customers.”

Rich Eichler, CEO of Hart Energy, noted that, “The Rextag acquisition marks the establishment of our new Energy Mapping and Data Visualization Services division – with Rey Tagle serving as our division VP.  It’s an important step in executing our strategy to bring more value-added information products and services to the industry.”

Rextag Strategies, based in San Diego, specializes in building GIS databases and producing highly accurate maps for oil and gas pipeline operations throughout the US.  Rextag publishes the Interstate Natural Gas Infrastructure Map Book, a unique resource, and its mapping and data visualization capabilities can be applied worldwide.

USA, Houston, TX & San Diego, CA

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AutoTrader.com to acquire Kelley Blue Book

October 27, 2010 — Fusion DigiNet

Automotive marketplace and consumer information web site AutoTrader.com is acquiring Kelley Blue Book, the new- and used-vehicle information business. As part of the deal, AutoTrader.com will also acquire Kelley Blue Book’s sister companies CDMdata and CDM Dealer Services.

Details of the transaction are not being disclosed. Kelley Blue Book will operate as a subsidiary of AutoTrader.com and continue to be headquartered in Irvine, CA. The deal is expected to close by the end of the year. J.P. Morgan acted as Kelley Blue Book’s exclusive financial advisor through this process.  Goldman, Sachs & Co. acted as financial advisor to AutoTrader.com.

“AutoTrader.com is excited about becoming the new owner of Kelley Blue Book because we believe the company has a great future,” said AutoTrader.com President and CEO, Chip Perry. “Kelley Blue Book has a wonderful history as an iconic brand and trusted provider of vehicle information to generations of car buyers and sellers, and as we look into the future we believe together we can bring a host of new technologies and tools to market that will significantly improve the car shopping process for consumers, and help auto dealers and manufacturers better capitalize on the fundamental efficiency advantages of the Internet.”

USA, Atlanta, GA & Irvine, CA

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EA acquires Chillingo

October 20, 2010 — Fusion DigiNet

Electronic Arts has acquired Chillingo Ltd., a UK based publisher of iPhone games whose titles include titles include Cut the Rope, Angry Birds, Helsing’s Fire, Predators, Ice Age: Dawn of the Dinosaurs, Minigore, iDracula, and Modern Conflict.

With the acquisition of Chillingo, EA Mobile has positioning on the Apple platform. EA’s announcement says the acquisition combines Chillingo’s expertise in cultivating the ideas of independent developers with EA’s global reach in mobile publishing.

USA, Redwood City, CA & UK, Cheshire

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Specific Media acquires online video provider BBE

October 20, 2010 — Fusion DigiNet

Independent media platform Specific Media has acquired Broadband Enterprises, a premier online video provider. Founded in 2004, BBE is a video advertising company that helps brands to monetize, track and produce video across all digital platforms. The deal recently closed for an undisclosed amount.

BBE, which currently works with a majority of Fortune 100 brands, has developed a complete video advertising solution used by major brand advertisers. The company has also developed the industry’s first ad-serving and tracking platform dedicated exclusively to video, VINDICO, which has logged more than 23 billion impressions to date. In addition, the company’s branded entertainment division has produced more than 20 original series, including the award-winning hit show Jen and Barb, Mom Life.

“Video is an exciting market, but advertisers have been unable to capitalize on its potential because it currently lacks data, targeting and analytics. We’re bringing our expertise to this area to fulfill the promise of video,” said Tim Vanderhook, co-founder and CEO of Specific Media. “We chose BBE because the company has a complete solution for brand advertisers, proven technology and a strong leadership team.”

USA, Irvine, CA and New York, NY

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Social shopping site LivingSocial acquires Urban Escapes

October 20, 2010 — Fusion DigiNet

Social shopping site LivingSocial has acquired social adventure company Urban Escapes. Terms of the deal were not disclosed.

“By working closely with merchants in all of our markets, LivingSocial has helped thousands of people across the country experience fun and exciting things to do in their neighborhood,” said Tim O’Shaughnessy, CEO and Co-Founder of LivingSocial. “With the acquisition of Urban Escapes, we will now have the ability to help curate some amazing experiences and adventures exclusively for our members.”

“People who use LivingSocial are already looking for fun, new things to do in the area they live or where they’re visiting,” said Maia Josebachvili, founder and president of Urban Escapes. “We’re passionate about organizing experiences you could never arrange on your own and this acquisition is the perfect opportunity for us to expand these completely unique, guided experiences around the globe.”

USA, Washington, DC

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AutoTrader.com acquires vAuto

October 18, 2010 — Fusion DigiNet

Automotive marketplace and consumer information website AutoTrader.com has completed its transaction to acquire vAuto, the automotive retail industry’s provider software tools for used vehicle management, pricing and inventory optimization.

The finalized agreement, first announced on September 17, makes vAuto a subsidiary of AutoTrader.com.  AutoTrader.com is majority owned by Cox Enterprises, Inc. with additional ownership stakes held by the venture capital firm Kleiner Perkins Caufield & Byers and the private equity firm Providence Equity Partners.

USA, Atlanta, GA

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