Vubiquity acquires UK-based FilmFlex Movies

May 29, 2014 — Fusion DigiNet

VUBIQUITY LOGOVubiquity, a US based provider of multiplatform video services, has acquired UK-based FilmFlex Movies Ltd., one of the largest VOD and multiplatform providers outside the United States.

filmflexFilmFlex, formerly a joint venture between Sony Pictures Television and The Walt Disney Company Limited, offers a customisable digital video storefront, already used by service providers and brands such as Virgin Media, TalkTalk, Film4 and EE. The company has licensing agreements with major US studios and many independent distributors.

“Vubiquity remains focused on expanding the breadth of our managed services and technical solutions that today support content and service providers worldwide,” said Darcy Antonellis, CEO of Vubiquity. “With FilmFlex we add additional studio assets and licensing, and gain important front-end technology to enable EST and other monetization models for multiplatform video consumption.”

USA, Sherman Oaks, CA & UK, London

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Apple to acquire Beats Music & Beats Electronics

May 28, 2014 — Fusion DigiNet

Apple_Beats_1Apple is acquiring subscription streaming music service Beats Music, and Beats Electronics, which makes the popular Beats headphones, speakers and audio software. As part of the acquisition, Beats co-founders Jimmy Iovine and Dr. Dre will join Apple.

Apple is acquiring the two companies for a total of $3 billion, consisting of a purchase price of approximately $2.6 billion and approximately $400 million that will vest over time. Subject to regulatory approvals, Apple expects the transaction to close in fiscal Q4.

“Music is such an important part of all of our lives and holds a special place within our hearts at Apple,” said Tim Cook, Apple’s CEO. “That’s why we have kept investing in music and are bringing together these extraordinary teams so we can continue to create the most innovative music products and services in the world.”

Formally established in 2008 as the brainchild of artist and producer Dr. Dre and Chairman of Interscope Geffen A&M Records Jimmy Iovine, Beats Electronics comprises the Beats by Dr. Dre family of premium consumer headphones, earphones, and speakers as well as patented Beats Audio software technology and streaming music subscription service Beats Music.

USA, Cupertino, CA & Santa Monica, CA

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TechMedia Network acquires BuyerZone from RBI

January 23, 2014 — Fusion DigiNet

techmedianetwork_logoTechMedia Network, Inc. has acquired BuyerZone, the  online marketplace for buyers and sellers of business products and services, from Reed Business Information. The terms of the deal were not disclosed.

BuyerZone’s marketplace features over one million registered buyers and a network of more than 8,500 sellers across 150-plus product and service categories, including business phone systems, POS systems, digital copiers, payroll services, and security systems.

“The addition of BuyerZone to our growing portfolio of properties brings us closer to our goal of becoming the go-to resource for consumers and business professionals looking to simplify complex purchase decisions,” said Greg Mason, CEO, TechMediaNetwork. “The powerful combination of our award-winning content, commerce-driving capabilities, and expert user communities, uniquely position us to simplify the information gathering and sales processes for consumers and businesses, instilling buyer confidence and enabling smarter purchase decisions.”

USA, New York, NY & Waltham, MA

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Motor Presse Stuttgart makes three acquisitions in Germany and Poland

January 23, 2014 — Fusion DigiNet

motorpresseMotor Presse Stuttgart has made three acquisitions in Germany and Poland. They are caraworld.de, a marketplace for new and used caravans and campers: a majority holding in the television company Motor Presse TV: and content-based Web site MojeAuto.pl.

“These acquisitions have the goal of accelerating the digital transformation of Motor Presse Stuttgart in Germany and abroad and driving the development of strong print-digital brands”, said Dr. Volker Breid, Managing Director at Motor Presse Stuttgart. The terms of the deals were not disclosed.

caraworld.de

caraworld.de, is Germany’s largest marketplace for new and used caravans and campers. The portal is aligned towards commercial traders as well as private buyers and vendors. caraworld.de offers more than 15,000 new and used vehicles and generates more than three million hits with around 40 million page impressions a year.

Motor Presse TV

Motor Presse Stuttgart is acquiring TV entrepreneur Jörg Schütter’s 41 per cent of shares in the Motor Presse TV company giving it a 51% majority stake in the joint-venture established in 2009. Jörg Schütte will retain a 49% holding in Motor Presse TV and will manage the company alongside Norbert Lehmann, Chief Financial Officer at Motor Presse Stuttgart. Motor Presse TV operates the pay TV auto motor und sport Channel which reaches around 900,000 subscriber households in German-language cable and IP TV networks. Acquisition of the majority holding by Motor Presse Stuttgart is subject to approval by the media supervisory authorities.

MojeAuto.pl

Motor Presse Polen is acquiring MojeAuto.pl from the Allegro Group. MojeAuto.pl was established by Automotive Internet Services S.A. in 2000 and acquired by the Allegro Group in 2010. The Web site currently employs 25 people and is based in Wroclaw which is also home to Motor Presse Polen. The Web site offers news, photo galleries and videos, tests and product ratings, marketplaces for new and used vehicles, tyres and wheel rims as well as accessories and financial services.

Germany, Stuttgart & Poland, Wroclaw

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Guardian to sell its stake in Auto Trader for upto £700M

January 23, 2014 — Fusion DigiNet

AutotraderGuardian Media Group is selling its 50.1% stake in Auto Trader owner Trader Media Group to private equity firm Apax Partners in a deal thought to be worth £600m to £700m to the Guardian publisher.

The sale to Apax, which bought 49.9% of Trader Media Group in 2007 and has been GMG’s joint venture partner in the business since then, is thought to give TMG an enterprise value of about £1.8bn. The exact financial details of the deal were not revealed.

GMG’s sale of the TMG stake is subject to reguatory approval and final completion.

Andrew Miller, the chief executive of GMG, said: “This proposed transaction makes strategic sense as we focus GMG’s activities on award-winning digital and print journalism. On completion, the sale proceeds will strengthen our balance sheet and position us for further investment and growth in our core business.”

Neil Berkett, the chair of the GMG board, said: “Once completed, this deal will make GMG a very well-capitalised media organisation with the financial flexibility to navigate the rapidly-changing media environment, where our flagship titles are proven pioneers of digital and print innovation.”

The Scott Trust, sole shareholder in GMG, has given its approval for the proposed sale and authorised the company board to reinvest the proceeds to enable it to continue to safeguard the Guardian’s editorial and financial independence.

Bank of America Merrill Lynch and Freshfields Bruckhaus Deringer advised GMG on the deal.

UK, London

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Groupon acquires online flash fashion retailer ideeli for $43 million

January 13, 2014 — Fusion DigiNet

grouponGroupon has acquired ideeli, an online flash fashion retailer for $43 million in cash.

Ideeli provides its  of members with access to leading brands in women’s and men’s apparel and accessories and home decor at discount prices. Founded in 2007 and based in New York, ideeli is one of the largest independent fashion flash sites.

“We are thrilled to add ideeli and their team to our company,” said Groupon CEO Eric Lefkofsky. “Ideeli extends our fashion presence and brings great relationships with many of the top brands in apparel. Our customers have a ideeli[1]demonstrated appetite for these offers, and by broadening our reach in this space Groupon is even better positioned as the place you start when you want to do or buy just about anything, anytime, anywhere.”

Ideeli will maintain its headquarters in New York and will continue to operate as a separate website.

USA, Chicago, IL & New York, NY

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Groupon completes the acquisition of Ticket Monster

January 2, 2014 — Fusion DigiNet
grouponGroupon has completed the acquisition of Ticket Monster from LivingSocial, a  Korean ecommerce company, for $260 million in cash and stock. The final allocation paid to LivingSocial, Inc. was $100 million in cash and $160 million in Groupon Class A common stock, subject to registration rights.

As previously reported, Groupon has acquired LivingSocial Korea, Inc., the holding company that owns Ticket Monster. LivingSocial Korea’s Malaysian subsidiary was divested prior to close and is not part of this transaction.

For the nine months ended September 30, 2013, LivingSocial Korea, Inc., excluding its Malaysiantmon subsidiary, had gross billings of $572.7 million, revenue of $78.5 million, an operating loss of $38.7 million, and Adjusted EBITDA of $0.7 million.

See previous Fusion DigiNet reporting.

The Ticket Monster brand and leadership team will remain in place and continue to be led by Daniel Shin, CEO of Ticket Monster. The company will maintain its headquarters in Seoul, where it employs approximately 1,000 employees.

USA, Chicago & Korea, Seoul

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Sold sold to Dropbox

November 15, 2013 — Fusion DigiNet

soldAccording to an announcement on the Sold website, seven month old Sold has been acquired by Dropbox and has closed its service. The terms of the deal were not disclosed. The company was forecasting $1 million in annual revenue

Sold was a service and iOS/Android app that simplified selling online by taking over the whole process. They handled handled the selling, the shipping, and the payment.

Sold was backed will $1.2 million from investors. Advisors and investors included Google Ventures, Greylock Partners, Matrix Partners, Boston Seed, Dharmesh and MIT Media Lab.

The announcement

Hi, friends! We’re very excited to announce that Sold has joined Dropbox! As of today, our service will no longer be accepting new items.

We’d like to sincerely thank all of our loyal friends and customers who have helped us, supported us, and spread the love for us through this amazing endeavor. We started Sold to provide people with a service that took the burden of selling off their shoulders – by doing all the dirty work for them.

But even beyond that, we wanted to create something that affected people in a positive way. Something they had an emotional connection with. Something they trusted. After spending time with Drew and Arash, we decided that the move to Dropbox couldn’t be better – their roadmap includes exciting new experiences which align perfectly with our ethos of creating products that positively affect people. Going forward, the Sold team will continue working together to build these experiences, shaping the future of Dropbox for their 200M strong user base. It’s an opportunity too good to pass up.

We’re really excited for the new set of challenges ahead, and are absolutely dedicated to continuing to create great experiences.

If you’re a current user with items in the system, expect to hear from us with instructions on how to proceed and finish your transaction.

Thank you, thank you, thank you,

-The Team at Sold

USA, San Francisco, CA & Boston, MA

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Groupon buys Ticket Monster from LivingSocial for $260 Million

November 7, 2013 — Fusion DigiNet

grouponGroupon is to acquire Korean-based Ticket Monster from LivingSocial for $260 million in cash and stock. The deal is expected to close in the first half of 2014.

“Ticket Monster is a perfect fit for Groupon as we continue to transition our business globally from a flash sale email model to a mobile commerce marketplace,” said Groupon CEO Eric Lefkofsky. tmon

“Ticket Monster has a vibrant and growing marketplace in one of the world’s largest ecommerce markets. Coupled with outstanding mobile penetration and expertise in local, travel, and product, they will help us accelerate our overall growth, provide immediate scale and serve as a cornerstone for our operations in Asia.”

Ticket Monster — known locally as TMON — was founded in 2010 and has quickly grown into a leading provider of product, local and travel offers in Korea. TMON has consistently seen year-over-year billings growth in excess of 50 percent, with annual billings of more than $800 million today. The business is said to be close to break-even on an EBITDA basis.

Approximately half of its sales are transacted on mobile devices. Based in Seoul, the company has grown to 1,000 employees serving more than 4 million active customers.

The Ticket Monster brand and leadership team will remain in place. Groupon and TMON will work on an operational plan for the two local entities once the deal has closed.

Per the terms of the agreement, Groupon will acquire LivingSocial Korea — the holding company that owns Ticket Monster. Any non-Korean assets currently owned by LivingSocial Korea will be divested prior to close. The agreement is for at least $100 million in cash, and up to $160 million in Groupon Class A common stock, with the final cash and stock allocation to be determined. The transaction is subject to regulatory and other customary closing conditions, including review by Korean antitrust authorities.

USA, Chicago, IL & Washington, DC & South Korea, Seoul

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Shutterfly acquires BorrowLenses

October 24, 2013 — Fusion DigiNet

shutterflyShutterfly has acquired BorrowLenses, the  online marketplace for photographic and video equipment rentals. BorrowLenses’s Founders, Max Shevyakov and Mark Gurevich, will join Shutterfly Inc. The terms of the deal were not disclosed.

“BorrowLenses addresses the growing consumer demand for high-quality products and services that are delivered on demand without high up-front costs,” said Jeffrey Housenbold, president and CEO of Shutterfly. “BorrowLenses is a perfect addition to the Shutterfly Inc. family of lifestyle brands, as they are the premium provider in the photo equipment rental category and are passionate about helping their customers capture moments by providing them with best in class photography and video equipment.”

USA, Redwood, CA & San Carlos, CA

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