Google acquires eBook Technologies

January 14, 2011 — Fusion DigiNet

Google has just acquired eBook Technologies, according to a notice on the eBook Technologies homepage. Here is the notice:

“eBook Technologies, Inc. is excited to announce that we have been acquired by Google. Working together with Google will further our commitment to providing a first-class reading experience on emerging tablets, e-readers and other portable devices.”

The business was founded by former business and technology managers from the Gemstar eBook Group. John Rivlin, CEO  was previously the Senior Vice President of Technology for Gemstar-TV Guide. Garth Conboy, President, was previously the General Manager and Vice President Software Engineering for the Gemstar eBook Group.

According to their websited (cached page), “eBook Technologies provides the leading end-to-end electronic book platform offering a full range of eBook products and services that are unrivaled in the marketplace. Unlike other players, the company has both deep industry knowledge and the end-to-end technology components to support the entire electronic book publishing value chain: content acquisition, conversion, wholesaling and retailing.”

Google have issued the following statement, “We are happy to welcome eBook Technologies’ team to Google. Together, we hope to deliver richer reading experiences on tablets, electronic readers and other portable devices.”

USA, La Jolla, CA

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Concur to acquire mobile trip management company TripIt

January 13, 2011 — Fusion DigiNet

Concur, a provider of integrated travel and expense management solutions, has agreed to acquire privately held TripIt, a mobile trip management company that helps people organize and share their travel plans no matter where they book.

Concur will pay approximately $27 million in cash and approximately $44 million in Concur stock at closing, plus a contingent cash amount settled upon 30 months from closing of up to approximately $38 million, subject to certain adjustments and escrow provisions set forth in the definitive agreement.  As part of the acquisition, Concur will exchange unvested TripIt options into Concur restricted stock units having an aggregate value of approximately $11 million at closing.  All components of consideration bring the total deal value to as much as $120 million.  However, there is no payment of the contingent cash amount if the value of the approximately $44 million of stock consideration issued exceeds approximately $82 million during the 30 month period following closing, subject to limitations.  In addition, individual holders of the approximately $44 million in stock consideration will lose their rights to payment of the contingent cash amount if they sell their holdings of such stock.  Though the payment of the contingent cash amount is uncertain, the maximum contingent cash amount to be paid, if any, at the end of the 30 month period is approximately $38 million.  The contingent cash amount will be recorded as a liability at fair value and marked-to-market each quarter through GAAP earnings. The acquisition of TripIt is expected to close in our second quarter of fiscal 2011 and to be dilutive to our pro forma operating margin for fiscal 2011.  Concur will provide more details in early February at their earnings conference call for the first quarter of fiscal 2011.

Concur was advised by Credit Suisse Securities (USA) LLC and Fenwick & West LLP, and TripIt was advised by Deutsche Bank Securities Inc. and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP on the transaction.

“The advancement of mobile solutions has changed the way business travelers buy, share, manage and expense their travel plans,” said Steve Singh, Concur’s chairman and chief executive officer. “There is a universal need to bring order to the chaos of travel and make life better for business travelers. That is true for both managed and unmanaged travel. Together, we solve challenges along the entire business travel process – from booking, through in-trip activities and sharing trip information, to post-trip expense management and reconciliation. We welcome the entire TripIt team to Concur and look forward to working together to deliver even more value to travelers, our customers and our partners.”

“This is great news for the millions of travelers who trust TripIt as a better way to manage travel and the hundreds of third party developers who are a part of the TripIt API ecosystem. Together with Concur, we can move even faster to realize our vision of making travel easier for even more people and companies around the world,” said Gregg Brockway, TripIt co-founder and president. “It’s also a testament to the passion, hard work, and commitment to excellence the entire TripIt team has demonstrated since day one to be the best at solving tough travel problems to help improve the lives of travelers everywhere.”

USA, Redmond, WA

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Cox Digital Solutions acquires Internet Broadcasting’s local network business

January 13, 2011 — Fusion DigiNet

Cox Digital Solutions, a digital media solutions provider for national, regional and local agencies, advertisers and publishers, has acquired the IB Local Network business and advertising sales group of Internet Broadcasting. Earlier this week it was announced that Adify and Cox Cross Media and merged to form Cox Digital Solutions.

With the acquisition, Cox Digital Solutions, a division of New Yorkbased Cox Reps, now has more than 150 employees across 10 markets.

“Today is a significant step forward in securing our position in the market,” said Steve Shaw, President of Cox Digital Solutions. “IB Local Network’s publisher relationships and media sales power are a natural fit with Cox Digital Solutions. This combination will enable us to meet a wider set of customer needs through a richer solution set, increase efficiencies, and significantly expand our opportunities for growth.”

With the sale of its local network business to Cox Digital Solutions, Internet Broadcasting (http://www.ibsys.com) is now able to fully focus on providing publishers with its digital publishing platform and services. “We can now concentrate on what has always been our core business –helping our media publisher clients use their content and consumer relationships to build a powerful digital presence by providing them with the most contemporary publishing platform and services available in North America,” said Roger Keating, Interim CEO of Internet Broadcasting and SVP Digital Media for Hearst Television. “At the same time, by placing the IB Local Network with an outstanding organization like Cox, we’re doing right by our former advertising clients and employees.”  

USA, New York, NY

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Thomson Reuters acquires LRP Publications’ Public Employment Group and Bankruptcy/Banking Products Group.

January 13, 2011 — Fusion DigiNet

Thomson Reuters has acquired LRP Publications’ Public Employment Group and Bankruptcy/Banking Products Group.

LRP Publications, founded in 1977 by Kenneth Kahn, is a leading supplier of print and online publications for legal, government, educational, and business professionals.  LRP’s resources include case reporters offering legal case law summary and analysis, as well as hundreds of newsletters, books and videos.

LRP will continue to focus on its products for the education community and federal government managers. LRP Publications was advised by Berkery Noyes.

USA, Palm Beach Gardens, FL

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Omnicom Group’s Diversified Agency Services acquires licensing agency Nancy Bailey & Associates

January 13, 2011 — Fusion DigiNet

Omnicom Group’s Diversified Agency Services (DAS) has acquired Atlanta-based Nancy Bailey and Associates.  The agency, which was founded by Nancy Bailey in 1982, is one of the industry’s most successful corporate licensing firms.  Nancy Bailey & Associates will become a division of DAS’s Beanstalk, the leading global brand licensing agency and consultancy.  Nancy Bailey has been named a vice chairman of Beanstalk and will report directly to Beanstalk’s president and CEO Michael Stone.

“Nancy Bailey & Associates and Beanstalk are without question the two preeminent brand licensing agencies in the world.  Not only have they both been true pioneers in corporate licensing but they both continue to innovate and push the industry forward with their creativity and leadership,” said Tom Harrison, CEO of DAS.  “Together, they form the biggest, most experienced, successful and innovative licensing agency in the world.”

The new relationship allows Beanstalk and Nancy Bailey & Associates to combine their talents, expertise and relationships to better serve both agencies’ Fortune 100 clients including The Procter & Gamble Company.  Currently, both Beanstalk and Nancy Bailey & Associates represent a number of P&G brands.  The new combined entity will consolidate the agency P&G representation into one fully integrated global team across the U.S., Europe and Asia.

“Nancy Bailey has been both a good friend and fierce competitor for more than 25 years and there is no one in the industry outside of Beanstalk, for whom I have more respect or admiration,” said Michael Stone, president and CEO of Beanstalk.  “The merger of Nancy Bailey & Associates with Beanstalk is truly game changing for our businesses and for the licensing industry as a whole.”  

“I have been in the licensing business a long time and I can truly say that there is no organization other than Beanstalk with which I would rather merge my company,” said Nancy Bailey.  “Michael and his team have consistently been at the forefront of our industry, helping to raise the visibility of licensing as a strategic marketing tool through thought leadership and an incredibly impressive portfolio of work.  Combining our companies’ talent and experience will have a major impact in the industry and we are excited about the future together.” 

USA, New York, NY & Atlanta, GA

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Groupon completes a huge $950 million round of financing

January 11, 2011 — Fusion DigiNet

Groupon has completed a huge $950 million round of financing valuing the business at $4.75 billion.

The company says they will use the funds to fuel global expansion, invest in technology, and provide liquidity for employees and early investors.

The financing consists of several venture capital firms and late-stage investors, including Andreessen Horowitz, Battery Ventures, DST, Greylock Partners, Kleiner Perkins Caufield & Byers, Maverick Capital, Silver Lake and Technology Crossover Ventures. Allen & Company LLC acted as financial advisor. Previous funding rounds were led by New Enterprise Associates, Accel Partners, Mail.ru Group and DST.

“We’re thrilled that Groupon has earned the confidence of some of the world’s most respected investment firms,” said Andrew Mason, founder and CEO of Groupon. “With their support, we will continue on our mission to change the way people shop locally and serve the world’s local businesses.”

Related articles:

  • Groupon rejects Google’s $6 billion offer Posted on December 7, 2010
  • Has Google bought Groupon? Posted by Fusion DigiNet on November 30, 2010
  • Groupon has acquired European competitor Citydeal Posted on May 18, 2010
  • Groupon acquires mob.ly Posted on May 7, 2010
  • Groupon raises more funds at a $1.2 million valuation Posted on April 18, 2010
  • Groupon has raised a Series B financing round of $30 million December 2, 2009
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    MedTech Media sold to Healthcare Information and Management System Society

    January 11, 2011 — Fusion DigiNet

    MedTech Media’s founder Neil Rouda has sold MedTech Media to Healthcare Information and Management System Society (HIMSS).

    HIMSS has been a partner of MedTech Media since it was founded in 2003. As part of the deal, MedTech will begin publishing Government Health IT in 2011. Editorial decisions of MedTech’s publications, Healthcare IT News and Healthcare Finance News, will remain independent and MedTech will continue to produce HIMSS Daily Insider, the HIMSS Expo Yellow Pages, the HIMSS Resource Guide and other annual conference-related publications and products.

    “HIMSS’ interest in our company reflects well on the talents and dedication of the people who work at MedTech. We owe our success to our partnership with HIMSS, to the industry we cover, but most of all, to our hardworking employees,” Mr. Rouda said.

    MedTech’s management team, led by current President, Jack Beaudoin, will maintain significant ownership in the company.

    “Going forward, it is my expectation that the activities of HIMSS and MedTech, while continuing to be run through separate companies, will support mutual growth and our ability to drive improvement and transformation in healthcare through information technology,” said HIMSS president and CEO, H. Stephen Lieber, CAE.

    Berkery, Noyes & Co assisted in negotiations and acted as exclusive financial advisor to MedTech Media’s founder and selling shareholder Neil Rouda.

    USA, New Gloucester, ME & Chicago, IL

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    Playboy Enterprises agrees to ‘Go-Private’ transaction at $6.15 per share

    January 11, 2011 — Fusion DigiNet

    Playboy Enterprises has entered into a definitive agreement with Icon Acquisition Holdings, a limited partnership controlled by Hugh M. Hefner, to take the company private for $6.15 per share.  

    The $6.15 price represents a 18.3% premium over the closing price Friday, January 7, 2011, of PLA and a 56.1% premium over the closing price on July 9, 2010, the last trading day before the proposal was first announced.  

    The purchaser, Icon Acquisition Holdings L.P., has obtained equity commitments for the transaction from an affiliate of Rizvi Traverse Management and a debt commitment for the transaction from affiliates of Jefferies & Company, Inc.

    Mr. Hefner said:  “With the completion of this transaction, Playboy will come full circle, returning to its roots as a private company.  The brand resonates today as clearly as at any time in its 57-year history. I believe this agreement will give us the resources and flexibility to return Playboy to its unique position and to further expand our business around the world.”  

    Sol Rosenthal, Chairman of the Special Committee of Playboy’s Board of Directors, said:  “The Special Committee and the Board have determined that the transaction is advisable, fair to and in the best interests of the Company’s public stockholders.”  

    Playboy CEO Scott Flanders will remain with the company in his current position and maintain a significant equity investment in Playboy.  “Our strategy is to transform Playboy into a brand management company,” Flanders said.  “This transaction will advance our efforts by strengthening our balance sheet and streamlining our operations, while creating opportunities to participate in new ventures.  I am excited about the future, and I look forward to working with our new partners as we guide Playboy into the next era.”

    Under the terms of the transaction, the purchaser will offer to acquire all of PEI’s outstanding shares of Class A voting (PLAA) and Class B non-voting (PLA) common stock that Mr. Hefner and his affiliates do not own for $6.15 per share in cash.  Through Mr. Hefner’s trusts, Mr. Hefner controls approximately 69.5% of the Class A shares and 27.7% of the Class B shares.  In connection with the transaction, Mr. Hefner has agreed to transfer all shares to the purchaser and not to tender such shares in the offer.  

    The purchaser expects to commence the tender offer no later than January 21, 2011.  

    Lazard is acting as financial advisor and Skadden, Arps, Slate, Meagher & Flom is acting as legal counsel to Playboy Enterprises. Raine Securities LLC is acting as financial advisor and Kaye Scholer LLP is acting as legal counsel to the Special Committee. Moelis & Company LLC is acting as financial advisor and Munger, Tolles & Olson LLP is acting as legal counsel to Mr. Hefner.  Jefferies & Company, Inc. is acting as financial advisor and Sheppard, Mullin, Richter & Hampton LLP is acting as legal counsel to Rizvi Traverse.

    USA, Chicago, IL

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    Chicago Tribune Media Group acquires Naperville Magazine

    January 11, 2011 — Fusion DigiNet

    Chicago Tribune Media Group has acquired Naperville Magazine from Oster Communications LLC.  Naperville Magazine was launched in 2005 and is a controlled distribution, monthly publication with a circulation of 30,000.  With a focus on health, fitness, style, restaurant reviews and home features, it is the premier community lifestyle magazine dedicated specifically to Naperville area.  

    “We are thrilled to be part of the Chicago Tribune Media Group.  The synergies we will generate will drive more value and service to the Naperville community,” said Leah Rippe, Publisher of Naperville Magazine.

    Leah will report to Rich Gamble, who adds Naperville Magazine his current responsibilities as Publisher & General Manager of Chicago magazine. “This is a great addition to our portfolio,” said Gamble.  “We’re excited to extend our reach in this important suburban area. Naperville is a great complement to our existing offerings and provides new targeted solutions for our advertisers looking to reach an affluent, educated and active audience.”  

    USA, Chicago, IL

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    LinkedIn to go public in 2011

    January 7, 2011 — Fusion DigiNet

    Reuters is reporting that LinkedIn, the social networking site for professionals, plans to go public in 2011. Morgan Stanley, Bank of America and JPMorgan are among the book runners.

    Their sources say that Internet companies such as LinkedIn and Zynga, a popular maker of online social games, are considering offerings well ahead of a potential IPO of Facebook.

    Linkedin is backed by investors include Sequoia Capital, Greylock Partners and Bessemer Venture Partners.

    Read the full story here

    USA, Mountain Views, CA

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