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Experian acquires RentBureau Multifamily Division

June 24, 2010 — Fusion DigiNet

Experian, the global information services company listed on the London Stock Exchange, has acquired RentBureau, the largest a credit bureau for the multifamily industry. The acquisition provides Experian with the most comprehensive rental payment database to offer property managers and resident screeners a more accurate and complete picture of renters. It also offers renters an opportunity to build credit with continuous on-time rental payments.

“At Experian, we see this acquisition as part of our ongoing efforts to capture the total picture of a consumer’s payment record,” said Steven Wagner, president of Experian Consumer Information Services. “We recognize the value that this information being on file brings to non-credit-active, cash-based consumers, and we intend to leverage Experian’s brand and scale to grow this area of our business quickly.”

RentBureau’s database receives rental payment histories every 24 hours from its national network of apartment owners and managers, which currently includes more than 7 million residents in the USA. Members of this network furnish their rental data to RentBureau directly and automatically from their property management software. In return, members receive immediate, centrally stored, integrated verification of new applicants’ payment history as part of their existing apartment applicant screening services. Experian also will offer its resident screening partners this robust data to significantly reduce the risk of skips, bad checks, evictions and property damage.

Additionally, the planned inclusion of rental history in credit files promises a great benefit for renters, especially those among the United States’ 50 million underbanked consumers. RentBureau is the largest neutral repository available to all resident screening companies to collect both good- and bad-performing rental histories, allowing consumers to actually build or rebuild good credit by paying rent on time as agreed. In the past, only a subset of negative rental behavior, such as evictions and collections, were reported to consumer reporting agencies, and on-time rental payments did nothing to boost a credit score. In the near future, rental lease payments will be leveraged by consumers to qualify for new leases or other financial products that they deserve.

RentBureau is the multifamily division of Atlanta-based technology company DSI Holdings, LLC, formerly RentBureau, LLC. RentBureau will immediately become a part of Experian. Operations will remain in Atlanta, Ga., and current RentBureau clients and partners will not experience any disruption to service while the team quickly integrates its operations with Experian over the coming months. The core team of founders and executives that created RentBureau will continue operations through its Decision Services International (DSI) division. DSI will continue to deliver data-driven decision products and services, specializing in lending/credit and other consumer transaction software, processes, payment and reporting capabilities.

Location: USA, Costa Mesa. CA

Ref: F231109-512

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TripAdvisor acquires Holiday Lettings, the U.K.’s largest independent vacation rental website

June 24, 2010 — Fusion DigiNet

Travel website, TripAdvisor, an operating company of Expedia, has acquired the United Kingdom’s largest independent vacation rental website, holidaylettings.co.uk.

The acquisition follows the launch of vacation rentals on TripAdvisor in 2009, and the purchase of a majority stake in U.S.-based FlipKey.com in 2008. Holidaylettings.co.uk will continue to be operated as an independent site. Terms of the acquisition are not being disclosed.

Including holidaylettings.co.uk, TripAdvisor Media Group now 17 travel brands and attracts nearly 46 million unique monthly visitors.*

“Our acquisition of Holiday Lettings significantly enhances the choice of fantastic vacation rentals available to the TripAdvisor community, particularly within Europe. It will also enable travellers to benefit from a wealth of destination information from fellow travellers to help them plan their perfect trip,” said Steve Kaufer, founder and CEO of TripAdvisor.

“TripAdvisor for Business, a new division of TripAdvisor, is a pioneer offering hospitality businesses the opportunity to target the world’s largest travel community with best-in-class marketing services. As part of TripAdvisor for Business, Holiday Lettings will add to our momentum and keep us at the forefront of innovation in the travel industry,” said Christine Petersen, president of TripAdvisor for Business. “This exciting acquisition will expand our services for home owners and property management companies in the vibrant European marketplace and build on the strength that FlipKey has established in the U.S. market.”

Holiday Lettings was established in 1999 and the co-founders and management will continue to lead the business as an independent brand from its offices in Oxford. Holiday Lettings currently advertises more than 40,000 vacation rental properties on behalf of private owners, property managers and letting agents. The homes stretch across 116 countries and range from villas, apartments and farmhouses to windmills, yurts and houseboats with options available for all budget ranges. Twenty-five million visitors use the site every year.

“The combination of our vacation rental marketing expertise with TripAdvisor’s leadership in the travel community is a natural fit certain to benefit both holiday home owners and those looking for a great hotel alternative,” said Ross Elder, co-founder and managing director of holidaylettings.co.uk. “We are delighted to have the support of TripAdvisor and are excited to enhance our offering to our customers.”

*Source: comScore Media Metrix, Worldwide, May 2010

Location: USA, Newton, MA & UK, Oxford

Ref: F231109-511

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EDGAR Online and UBmatrix to merge

June 24, 2010 — Fusion DigiNet

EDGAR Online and UBmatrix have signed a definitive merger agreement. The merger would combine EDGAR Online’s position as the leading provider of U.S. Securities and Exchange Commission (SEC) public company XBRL filings and XBRL data, and UBmatrix’s experience as the leading XBRL software provider to independent software vendors and major U.S. and international regulators.

The merger will be an all equity transaction with the issuance by EDGAR Online of preferred and common shares equal to approximately 16% of the Company’s common stock on a fully diluted basis, subject to post-closing adjustments. Currently UBmatrix has $1.8 million of cash on its balance sheet, and will be required to satisfy all indebtedness by the closing. In addition to the merger consideration, current UBmatrix shareholders have agreed to invest an additional $2 million in cash into the Company through the purchase of additional EDGAR Online preferred shares (convertible into 1,381,088 common shares of EDGAR Online as of January 28, 2015).

Location: USA, New York, NY & Redwood City, CA

Ref: F231109-510

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Archant acquires KOS Media publisher of The Kent on Sunday newspaper

June 24, 2010 — Fusion DigiNet

Archant has acquired KOS Media Publishing Limited, in which it has had a minority interest since 2005. the terms of the deal were not disclosed.

KOS Media publishes the Kent on Sunday newspaper, launched in 2002, and a series of free weekly newspapers, magazines and associated websites and mobile products. Its magazines and supplements include the Review lifestyle, entertainment and property guide, Isle Magazine, Visit Kent and Taste of Kent.

The company produces YourkentTV, an internet-based TV service providing regional features, business and sport, plus websites for jobs, property and motors.

The company employs around 70 full-time staff and is based at Smeeth near Ashford in Kent.

Archant Chief Executive, Adrian Jeakings, said: “We are delighted to bring KOS Media fully into our portfolio of regional titles. This acquisition strengthens Archant’s existing presence in Kent and provides a springboard for further investment. We look forward to working with the Managing Director Paul Stannard and his team, to develop this vibrant business.”

KOS MD, Paul Stannard commented: “I am delighted Archant has taken on full ownership of KoS Media. We will benefit from ownership by a large, well financed, independent group with ambitious plans to grow the business.”

Location: UK, Asford, Kent

Ref: F231109-509

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The Huffington Post buys Adaptive Semantics

June 22, 2010 — Fusion DigiNet

Online newspaper and social news network The Huffington Post, also referred to as HuffPo or HuffPost, has acquired the two person business Adaptive Semantics. It is the first acquisition by The Huffington post. The terms of the deal were not disclosed.

Adaptive Semantics is the maker of JuLiA, a program that uses Bayesian algorithms to automatically moderate comments. Huffington Post was already Adaptive Semantic’s main investor, and had already acquired a 20 percent stake in the business in April, 2009

JuLiA employs algorithms similar to spam filters found on most email services, separating useful comments from abusive or obscene ones. Adaptive Semantics co-founders Elena Haliczer and Jeff Revesz will join The Huffington Post’s staff, Haliczer as project lead of social news technology, and Revesz as director of social news technology.

The Huffington Post was founded by Arianna Huffington, Kenneth Lerer, and Jonah Peretti. It was originally launched in May 2009. In 2008, the site launched its first local version, HuffPost Chicago; HuffPost New York launched in June, 2009, HuffPo Denver launched in September 2009, and HuffPo Los Angeles launched in December 2009.

Location: USA, New York, NY

Ref: F231109-507

Related article – Greycroft Partners closes its second fund to invest in digital media businesses April 14, 2010

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Optimum Interactive is to acquire The ZOI Greek Telephone Directory

June 22, 2010 — Fusion DigiNet

Optimum Interactive is set to close on the acquisition of ZOI — The Greek Telephone Directory. Optimum will immediately integrate the operations of ZOI by establishing a new division called CelectMedia.

The ZOI Greek Telephone directory is a national publishing and media provider for the Greek community, uniting fraternities and sororities with an annual lifestyle guide and directory. ZOI will bring a proven advertising revenue model onto the Celect.org system, now serving 1,200 clients and 1.5 million unique members.

“We expect to increase our sales for 2010 and 2011 by more than $2.5 million annually via the acquisition,” said Mark Anderson, President of Celect.org. “ZOI will bring significant expertise and marketing synergies from its robust organizational client database and campus directories.”

The ZOI Greek Telephone Directory maintains a strong presence in over 70 universities nationwide. ZOI’s website (http://www.thezoi.com) offers user generated content and executive networking functionality. The Company was founded fifteen years ago and is based in Los Angeles, California.

“We are extremely excited about the opportunity to leverage the Celect.org platform and web-based system tools and are looking forward to what should prove to be a tremendous lift to both businesses,” said Larry Tollin, CEO of The ZOI.

Location: USA, Los Angeles, CA

Ref: F231109-506

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Ten Alps acquire Grove House – trade media in the farming sector

June 22, 2010 — Fusion DigiNet

Here is one we missed last month. The Ten Alps announcement is below.

Multimedia producer Ten Alps (‘Ten Alps’) (AIM:TAL) announces that it has acquired Grove House Publishing Limited (“Grove House”), a publisher of trade media in the farming sector.
The acquisition fills a key sector gap in Ten Alps’ trade media portfolio. Grove House owns titles including Farm Business, The Agronomist, Pig and Poultry Marketing and Over the Counter, plus related events and database products. Ten Alps plans to migrate the portfolio across online formats during 2010.

Grove House had revenue of £1.3m for the year ended 31 December 2009, with underlying earnings before interest and tax (EBIT) of £200,000. The initial consideration is £741,500, satisfied by the issue of new Ten Alps ordinary shares (“New Shares”). On the basis that Grove House’s net assets are a minimum of £600,000 (of which an element is in cash as at 30 September 2010), a cash payment of up to a maximum of £400,000 will be due in October 2010.

If Grove House reaches an average EBIT of £568,000 (“Target EBIT”) each year for the second and third year following completion, two further payments of £250,000 each will be made in cash and/or shares which is to be mutually agreed, subject to a minimum amount payable of £100,000 over the period. This minimum payment is conditional on Grove House being profitable over those two years. The maximum consideration payable will therefore be £1.64m, which if paid would represent an overall multiple of 2.9 times Target EBIT.

The directors believe that the acquisition offers strong growth prospects for Ten Alps – as a standalone entity, through online migration of its products by Ten Alps, and through benefits from integration into the Group’s central services.

Related Party Transaction

Herald Ventures, across three limited partnerships, owns 53% of the ordinary shares in Grove House. Herald Ventures is managed by Herald Investment Management Limited (Herald). Herald also manages Herald Investment Trust plc which owns 7,485,343 shares in Ten Alps. The acquisition of Grove House is therefore considered a related party transaction under the AIM Rules for Companies. Accordingly, the directors, having consulted with Grant Thornton Corporate Finance (in its capacity as nominated adviser), consider that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.

In order to satisfy the initial consideration, application has been made for the admission of 3,617,021 New Shares to trading on AIM, which is expected to occur on or about 14 May
2010, and which will rank pari passu with existing ordinary shares in Ten Alps. Following admission to trading of the New Shares, Ten Alps will have an issued share capital
of 73,791,012 ordinary shares of 2 pence each.

Location: UK, London

Ref: F231109-505

Related article – Ten Alps Communications Asia acquires websites, events and publications from RBI Asia Posted February 1, 2010

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Web.com is acquiring Register.com for $135 million

June 22, 2010 — Fusion DigiNet

Web.com is acquiring Register.com for $135 million. Register.com is a portfolio company of private equity company Vector Capital. The transaction is expected to close in the third quarter.

Register.com is a leading provider of global domain name registration and complementary website design and management services. The acquisition by Web.com will create one of the largest online marketing and web services companies serving small businesses.

In November 2005, Vector Capital partnered with the Register.com management team to take the company private. As a private company, Register.com divested a non-strategic division and created a new growth division to enhance customer service capabilities and broadening product offerings.

“Register.com is the most recent example in Vector’s long history of partnering with management to realize significant value by transforming and growing technology companies”, said Amish Mehta, Partner at Vector Capital “This is an exciting development for all stakeholders, including customers, Web.com shareholders, management, and employees. In addition, the sale of Register.com combined with the proceeds received from 2006 and 2007 recapitalizations of the company creates a great outcome for Vector’s investors.”

Location: USA, San Francisco, CA

Ref: F231109-504

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Criterion Capital Partners buy Bebo

June 17, 2010 — Fusion DigiNet

Criterion Capital Partners, a merchant banking and financial advisory firm based in the United States, announced today that it has acquired the Bebo business, the youth-centric social media network, from AOL Inc. As part of the deal, CCP will assume the rights and complete operating control over the global social platform business.

The acquisition and financing was lead by Adam Levin, managing partner at CCP, in partnership with accomplished business strategist Paul Abramowitz and web entrepreneur Richard Hecker. CCP will take over Bebo’s global operations immediately and retain a San Francisco-based headquarters. Exact terms of the deal are not being disclosed by either party, though most reports are saying it was sold for just $10 million! Bebo was acquired by AOL in March 2008 for $850 million.

“Criterion Capital Partners are specialists in facilitating growth plans and turnarounds, and are well placed to drive Bebo’s effort to strengthen its foothold within the highly competitive social networking arena,” said Tim Armstrong, Chairman and Chief Executive Officer, AOL.

Bebo launched in 2005. It is a social media network that combines community, connections, self-expression and entertainment via a range of social tools, games and a growing mobile platform. Bebo has a strong user base across the globe, including in the U.S., the UK, Ireland, Australia, New Zealand, Canada, Poland, France, Germany, Italy, Spain, India, Pakistan and the Netherlands.

Location: USA, Los Angeles, CA

Ref: F231109-502

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Morningstar Europe acquires the remaining 75% of Morningstar Danmark

June 17, 2010 — Fusion DigiNet

This article was updated on July 1, 2010

Morningstar Europe, a subsidiary of Morningstar, Inc., a leading provider of independent investment research, has entered into a definitive agreement to acquire a 75 percent ownership interest in Morningstar Danmark A/S from Phosphorus A/S, bringing its ownership to 100 percent. Morningstar will pay Phosphorus A/S U.S. $15.2 million, or approximately DKK 91 million, plus an amount for its share of first-half 2010 net profits. The companies expect to complete the transaction in July, subject to customary closing conditions.

Located in Copenhagen, Morningstar Danmark was established in 2001 by Morningstar Europe and Phosphorus A/S, a Danish company. The company’s main offering is the investment information website for individual investors, Morningstar.dk, which provides fund and ETF data, portfolio tools, and market analysis.

“Together with Phosphorus and the local management team, we’ve been providing investment data and software to the Danish market for more than eight years, and the company already has a well-respected brand in the industry,” said Joe Mansueto, chairman and chief executive officer of Morningstar. “As sole owner, we plan to offer Morningstar’s full suite of products and services to investors in Denmark, and leverage Morningstar’s global reach, investment databases, and technology expertise to better serve our clients. The leadership of Peter Meyer and Torben Bruun has been instrumental in building a solid foundation for Morningstar in Denmark and we look forward to expanding the business with them there.”

Morningstar Danmark has 11 employees based in Copenhagen. Peter Meyer, chief executive officer, and Torben Bruun, chief operating officer, will continue to lead the company.

Location: Europe, Denmark

Ref: F231109-501

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