24MAS has acquired digital cross-media agency Spoiled Milk

May 31, 2011 — Fusion DigiNet

24MAS, a global mobile advertising and solutions provider, has acquired digital cross-media agency Spoiled Milk. Spoiled Milk is a full-service agency specializing in digital consultancy, social media strategy and cross platform app development for iOS, Android, Windows Mobile and more.

Founded 2005, with offices in Copenhagen, Zurich and Belgrade, Spoiled Milk has a proven experience of introducing and helping clients in optimizing their web and mobile markets. 24MAS thereby strengthens its position as a provider of both mobile advertising and mobile applications solutions, acquiring both award-winning technology and creative cross-media talent.

“We are thrilled about the addition of Spoiled Milk to the 24MAS Group of companies. Spoiled Milk are at the forefront of technology and design trends, working for a broad client base delivering cutting edge products and solutions. The combination of Spoiled Milk and all the other business units of 24MAS, means we will be strengthening our cross media expertise and product range, deploying them on a global basis,” says Tero Turunen, CEO 24MAS.

Sweden, Stockholm  & Denmark, Copenhagen

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PAI Partners are to sell SPIE

May 31, 2011 — Fusion DigiNet

French private equity firm PAI Partners are to sell SPIE.

SPIE provides electrical and mechanical engineering and HVAC services, energy and communication systems, The company helps local and regional authorities and companies design, build, operate and maintain energy-efficient facilities.

PAI have granted an exclusivity agreement to a consortium led by Clayton, Dubilier & Rice together with AXA Private Equity and Caisse de dépôt et placement du Québec, for a total consideration of EUR 2.1 billion

In compliance with French law, SPIE management will now begin a consultation process with its works councils.

Olivier de Vregille, a PAI partner, commented: “Five years after PAI partners acquired SPIE, the company has grown dramatically – it has acquired more than 50 companies across Europe and its workforce has increased from 23,000 to almost 29,000 -; its operational profit has doubled. PAI partners selected the best acquisition proposal thereby ensuring that the interests and values of the company and its employees were at the heart of its new project.”

SPIE has 28,600 employees working from around 400 locations in 31 countries, in 2010 SPIE generated operating profit on ordinary activities of EUR192.3 million on turnover of EUR3.75 billion.

France, Paris

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Reply.com to acquire US local business owners network MerchantCircle

May 31, 2011 — Fusion DigiNet

Reply.com, the auction marketplace for the acquisition of locally-targeted and category specific customer prospects, is to acquire MerchantCircle, a largest online network of US local business owners, for $60 million in cash and stock. The transaction is expected to be completed in Q3 2011. Reply! founder and CEO, Payam Zamani, will be CEO of the combined companies, which will be called Reply! Inc. Individually, each company is profitable, and the combined company projects revenues of over $100 million in 2012.

Upon completion of the acquisition, Reply! will be comprised of two components: Reply! Marketplace and Reply! Media. Founder and CEO of MerchantCircle, Ben T. Smith IV, will be President of the Reply! Media Division, reporting to Zamani.

“There is a multi-billion-dollar market opportunity in providing a practical and scalable online marketing solution for powering locally-targeted commercial transactions,” said Reply! founder & CEO, Payam Zamani. “Reply!’s Marketplace, combined with MerchantCircle’s network of local merchants and millions of local consumers, position the company to revolutionize locally-targeted online marketing and solve a major problem for locally-targeted businesses, who are frustrated by the complexity and lack of effectiveness of search engine marketing and display advertising.”

USA, San Ramon, CA

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Perfect World to acquire online game developer Cryptic Studios from Atari

May 31, 2011 — Fusion DigiNet

Perfect World, a leading online game developer and operator based in China, is toacquire Cryptic Studios, a California-based online game developer from Atari, the sole shareholder of Cryptic Studios. Perfect World will pay approximately €35 million in cash, subject to working capital and other adjustments.

“We are very pleased to sign the agreement to acquire Cryptic Studios,” commented Mr. Michael Chi, Chairman and Chief Executive Officer of Perfect World. “This strategic acquisition will add attractive game titles to our portfolio, which will help us further penetrate into the U.S. and global online game markets.  More importantly, Cryptic Studios’ highly reputable development team and its technology platform will further strengthen our well-established R&D capabilities.  We deem this as another noteworthy achievement of our global expansion efforts.”

“With the acquisition by Perfect World, Cryptic has found a strong platform for continued expansion into free to play business model and growth in the global marketplace,” said Jim Wilson, CEO of Atari. “The divestiture of Cryptic is in line with Atari’s continued focus on key owned and third-party strategic franchises and expansion into emerging game platforms.”

China, Beijing & USA, Los Gatos, CA

 

 

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SMA Alliance buys social networking sites bizwrk.com and palwow.com

May 31, 2011 — Fusion DigiNet

Lead generation business SMA Alliance  is to acquire two social networking sites with approximately 251,000 members for an undisclosed amount. The purchase of the social networking site bizwrk.com and palwow.com allows a sufficient base for research and development of SMA’s technology in the employment sector.

SMA plans to enter additional sectors with its lead generation software and applications, specifically targeting the Search and Placement Sales sub-sector of the Employment Staffing industry in the U.S. The Employment Search and Placement Sales industry generates approximately $8 billion of $62 billion annually, according to American Staffing Association.

The combined sites, under bizwrk.com, would allow employers to place employment ads and have those job opportunities be presented directly to the social members according to their employment qualifications. The business and revenue models will be presented after the R&D phase is complete.

“We know how to sell our products and believe we can make a significant impact on improving local unemployment nationwide. Let’s get America working,” said Anthony Baker, President of SMA.

This project should be in R&D for approximately 90 days.

USA, Nashville, TN

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Survey of Private Equity fund managers indicates improved optimism – Rothstein Kass’s Private Equity in 2011 report

May 30, 2011 — Fusion DigiNet

Global professional services firm Rothstein Kass, has published “Private Equity in 2011,” a sector trends report that features the findings of an Internet survey of 207 private equity fund managers. Conducted in January 2011, the survey covered issues ranging from fundraising intent to regulatory concerns.  Sixty-five percent of managers participating worked at funds with assets under management (AUM) below $500 million, with 35 percent indicating AUM in excess of $500 million.

Among notable findings, nearly 80 percent of respondents indicated that there will be more attractive investment opportunities in 2011 than in 2010. Meanwhile, 67 percent suggested that there will be increased IPO activity by private equity portfolio companies this year. While a more stable economy and thawing capital markets are contributing to a general sense of optimism, managers polled also acknowledged challenges ahead. Roughly 45 percent of respondents indicated that the credit crisis would continue into 2012 or beyond. Nearly 86 percent agreed that provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act will increase compliance costs for private equity funds.

Read the report here

USA, Roseland NJ

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Energy management software Hara receives $25 million in Series C funding

May 30, 2011 — Fusion DigiNet

Hara, a leading provider of environmental and energy management software, has received $25 million in Series C funding, the company’s largest round, bringing total investment to $45 million. Participants include Energy Technology Ventures, a joint venture of GE (NYSE: GE), NRG Energy (NYSE: NRG) and ConocoPhillips (NYSE: COP), and ITOCHU Technology Ventures (ITV), as well as existing investors Kleiner Perkins Caufield & Byers (KPCB), JAFCO Ventures and Nth Power and new backers Focus Ventures and Navitas Capital. The funding will allow Hara to accelerate global expansion and product innovation, to meet growing demand from Fortune 1000 companies and government agencies for solutions to help optimize energy and resource use while minimizing environmental impact.

Hara is adding new strategic investors as it advances its growth plans across industries including manufacturing, utilities and oil and gas. These investors include – through Energy Technology Ventures –world-renowned advanced technology, services and finance company GE; ConocoPhillips, the third-largest integrated energy company in the U.S.; NRG Energy, owner and operator of one of the largest power generation portfolios in the nation; and ITV, the venture capital arm of leading Japanese trading group ITOCHU which has also entered into a strategic partnership with Hara to serve clients in Japan. The funding supports Hara’s global focus as an industry leader and is a testament to the adoption, comprehensiveness and scalability of the Hara Environmental and Energy Management (Hara EEM) solution.

USA, San Mateo, CA

 

 

 

 

 

 

 

 

 

 

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Bridgepoint exits ERM with sale to Charterhouse in $950 million transaction

May 30, 2011 — Fusion DigiNet

Charterhouse Capital Partners is to acquire a majority stake in  environmental consultancy Environmental Resources Management (ERM) as part of a management buy-out from Bridgepoint. Under the transaction, which values ERM at US$950m, Charterhouse will acquire a stake of approximately 65 per cent. The remainder of the shares will be held by ERM Partners whose approval is required for this transaction.

John Alexander, Group Chief Executive of ERM said: “We are pleased that Charterhouse shares our vision for the future growth of this company as we enter an exciting new stage of our development. ERM has completed an outstanding year, with Net Revenues up 12 per cent year on year to $483 million and EBITDA up 18 per cent to $76 million year on year. With the strong commitment both from our Partners, whom I believe to be the best in the field, and Charterhouse as a financial partner, we look forward to building on that performance and expanding our business in a market with very strong growth fundamentals.”

Stuart Simpson, a Founding and Senior Partner of Charterhouse said: ‘We have followed the progress of ERM with interest for a number of years. The company has grown to a size and leading market position that makes this the ideal time for Charterhouse to make an investment in the significant growth potential of this world-class business. We are excited to be working with John Alexander and the ERM team during this new phase of global expansion of ERM.

Chris Busby, Partner at Bridgepoint, added: “ERM is a first class business that has capitalised on the market driven opportunity arising from increased regulation, compliance and demand for natural resources and sustainability. It is strongly positioned for a great future.”

The transaction will see the 440 Partners in ERM (including the senior management team) make a substantial reinvestment in the business. The company’s structure, which has combined private equity backing with Partner ownership since 2001, means that the 440 ERM Partners both drive and share in the company’s success.

UK, London

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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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Social media agency Punktilio acquired by Essence

May 30, 2011 — Fusion DigiNet

Digital agency Essence has acquired specialist social media agency Punktilio Limited. Terms of the deal were not disclosed.

Punktilio’s website says, ” Social is already of considerable importance to many brands – and for some is central to their brand strategy. We believe its importance will only grow – and with that the need for social to be wholly integrated with a brand’s overall digital strategy will become fundamental. With that in mind, we wonder if the days of the specialist social media agency are numbered? And perhaps this deal may become seen as a transformative moment for the industry.”

Michael Birch, founder of Bebo and now a shareholder in Essence following the deal, agrees: “In my mind there will be no room for a ‘specialist social media agency’ in two years. The future is all about joined up thinking. I see huge potential for this combined business and my ongoing commitment to the agency will continue.”

Punktilio, an agency co-founded by former Bebo exec Hal Stokes.

UK, London

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