Fusion Corporate Partners

Sony acquires Media Molecule, the creator of LittleBigPlanet

March 3, 2010 — Fusion DigiNet

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website

ACQUISITION
FDN Database Reference: F231109-344

Acquirer: Sony Computer Entertainment
ACQ Web: http://www.scei.co.jp
Other Web Links: Playstation
Head Office: Japan, Tokyo
Region: Asia
Local Office: Sony Computer Entertainment Europe
Region: Europe, London
Description 1: Sony Computer Entertainment – manufacturers, distributes and markets the PlayStation® game console, the PlayStation®2 computer entertainment system, the PSP® (PlayStation®Portable) handheld entertainment system and PlayStation®3 (PS3™) system. The company develops, publishes, markets and distributes software, and manages the third party licensing programs for these platforms in the respective markets worldwide. Sony Computer Entertainment Inc. is an independent business unit of the Sony Group.
Description 2: Sony Computer Entertainment Worldwide Studios – is responsible for the global creative, technical and strategic direction setting of development and production of computer entertainment software for the PlayStation family. SCE WWS directly employs over 2,500 people in its 15 studio locations around the world.
Category: Computer Games
Contact: Shuhei Yoshida, President, Sony Computer Entertainment Worldwide Studios

Vendor: Media Molecule
Vendor Web: http://www.mediamolecule.com
Other Web Links: Twitter
Location: UK, Guildford, Surrey
Region: Europe
Description: Media Molecule is a video game developer. The studio was founded in January 2006 by former Lionhead Studios employees Mark Healey, Alex Evans, Dave Smith, and Kareem Ettouney. They are best known as the creator’s of LittleBigPlanet. Media Molecule won the Studio of the Year award at the Spike Video Game Awards 2008. The game also won numerous game of the year awards leading to a ‘Game Of The Year Edition’ a year later.
Category: Computer Games
Contact 1: Alex Evans, co-founder
Contact 2: Mark Healey, co-founder

Aprox. Value: Undisclosed

Details: Sony Computer Entertainment (SCE) has acquired game developer Media Molecule, creator of the PlayStation®3 (PS3™) exclusive title, LittleBigPlanet™. Media Molecule will join as part of SCE’s global development operation, SCE Worldwide Studios.

Links:

Posted in Content Media, Games, Internet Media, ~Europe. Leave a Comment »

Scripps sells uSwitch to Forward Internet Group – updated

March 2, 2010 — Fusion DigiNet

According to their SEC Form 10-K and first reported on PaidContent today, the cash portion of the sale was around $10 million. Scripps Networks Interactive bought the site three years ago for $366 million.

However, the filing also reads, “The gain on the uSwitch divestiture reflects the recognition of $44.4 million in foreign currency translation gains that were previously recognized in equity as a component of accumulated other comprehensive income (loss). The foreign currency translation gains was partially offset by a $6.8 million charge recorded for lease obligations we retained in the sale and a $8.9 million loss that was recognized on the sale of uSwitch’s net assets. Operating results of our discontinued operations in 2007 include a non-cash charge of $411 million to write-down uSwitch’s goodwill and intangible assets”.

Original Fusion DigiNet entry
1st January 2010

Acquirer: Forward Internet Group
ACQ Web: http://www.forward.co.uk
Location: United Kingdom, London
Region: Europe
Description: Forward3D is the group’s 3D search agency (formerly known as TrafficBroker) and Forward Innovations the consumer division which focuses on price comparison and switching and includes uSwitch.com, InvisibleHand and Omio.
Category: Media, Search, Price Comparison
Contact 1: Neil Hutchinson, CEO

Vendor: Scripps Networks Interactive
Vendor Web: Rob Murphy, Finance Director
Location: USA, Knoxville, Tennessee
Region: North America
Description: Lifestyle content for television and the Internet
Category: Media
Contact: Richard A. Boehne, Director, President and Chief Executive Officer

Aprox. Value: Undisclosed

Details: Forward has acquired uSwitch.com, the independent price comparison and switching service, for an undisclosed sum. Forward has also changed its name from TrafficBroker as the company changes from being a search agency to an internet group.Forward’s annual revenues will exceed £55m in 2009. uSwitch.com will go into the consumer division, Forward Innovations, alongside InvisibleHand and Omio.

Link: Press Release

Posted in B2B Services, Content Media, Energy & Environmental Services, Internet Media, ~Europe, ~North America. Leave a Comment »

AOL sells affiliate network Buy.at

March 1, 2010 — Fusion DigiNet

Posted in ~Europe. Leave a Comment »

Reed Business Information-US sells School Library Journal and Library Journal to Media Source

March 1, 2010 — Fusion DigiNet

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website

ACQUISITION
FDN Database Reference: F231109-342

Acquirer: Media Source
ACQ Web: http://www.mediasourceinc.net
Other Web Links: Junior Library Guild, The Horn Book
Location: USA, Columbus, OH
Region: North America
Description:  Media Source is the parent company of Junior Library Guild (JLG) and The Horn Book , Inc. JLG is a review and collection development service that provides new release children’s and young adult books to more than 17,000 school and public libraries. The Horn Book , Inc. reviews children’s and young adult books in two print publications, The Horn Book Magazine and The Horn Book Guide.
Category: Publisher, Education
Contact: Randall Asmo, CEO

Vendor: Reed Business Information – US
Vendor Web: http://www.reedbusiness.com/us.html
Business Sold: Library Journal and School Library Journal
Location: USA, New York, NY
Region: North America
Description 1:  Reed Business Information – US: Business-to-business information provider, with more than 80 market-leading publications and Websites, as well as a range of services
Description 2:  School Library Journal (SLJ): Each monthly issue of SLJ includes reviews of children’s and young adult books, audio, and multimedia products, as well as news, features, and columns that deliver the perspective, resources, and leadership tools necessary for its readers to become indispensable players in their schools and libraries. More than 100,000 librarians who work with students in public and school libraries read School Library Journal.
Description 3:  Library Journal (LJ): Founded in 1876, Library Journal is the oldest and most respected publication covering the library field. Over 100,000 library directors, administrators, and staff in public, academic, and special libraries read LJ. In its twenty annual issues, LJ reviews nearly 7000 books and provides coverage of technology, management, policy, and other professional concerns.
Category: Media Owner, Publisher
Contact: John Poulin, Chief Executive Officer

Aprox. Value: Undisclosed

Details:  Media Source Inc. has acquired Library Journal and School Library Journal from Reed Business Information – US. The acquisition includes all print and Web products, services, supplements, and newsletters, including Library Hotline. With this purchase, Media Source, best known for its ownership of Junior Library Guild and The Horn Book, Inc., adds substantially to its product offerings in the library market. The businesses will continue to operate from New York and Editor-in-Chief Brian Kenney and Publisher Ron Shank will remain in their current roles.

Company Announcements:

FUND RAISING: WEEKLY ROUND-UP

February 28, 2010 — Fusion DigiNet

From today Fusion DigiNet will provide a weekly round-up of fund raising in the Digital and Media industries.

The Fusion DigiNet daily service will concentrate on M&A activity. This will allow us to provide more dept to our M&A coverage. M&A is, after all, Fusion’s speciality area.

The best way to receive Fusion DigiNet information is to subscribe to the free email service available from the home page.

Already reported

The rest of the week’s stories

1. Backupify has raised $900,000

Backupify the online data backup and storage provider for businesses to seamlessly back up their critical cloud data, today announced that it has closed a Seed Round of $900,000. The company, which launched in June 2009 with a sole focus on the consumer market, will use much of the funding to create services for business customers, the first being an automated solution for business customers to back up their enterprise data that already resides in the cloud.
Investors: First Round Capital led the round, with investments from General Catalyst Partners, Betaworks and individual investors Chris Sacca, Jason Calacanis, Andy Swan and Bob Saunders. Charlie O’Donnell from First Round will sit on the Board of Directors and Josh Kopelman from First Round and David Orfao from General Catalyst Partners will join the company’s Board of Directors as observers.
Location: Louisville, KY
Category: Cloud Computing
Press Release

2. Busuu.com has raised an undisclosed sum

Busuu.com an online community offering free language courses has raised an undisclosed sum from an Austrian investor
Location: Spain, Madrid

3. Clicker has raised $11 million

Clicker Media Inc. creators of Clicker, the programming guide for Internet television, announced today that it has received a Series B investment totalling $11 million. The funding will be used to support the long-term development of Clicker’s product line and partnerships with major consumer electronics, connectivity and content providers.
Investors: The round was led by Palo Alto-based JAFCO Ventures, with participation by Series A investors Benchmark Capital and Redpoint Ventures.
Location: USA, Los Angeles, CA
Category: Television, Technology
Press Release

4. Currensee has raised $8 million

Currensee Inc., the Forex trading social network that connects traders from around the world based on real-time trades, has secured $8 million in Series B financing for total funding of $12 million.
Investors: Led by Northbridge Venture Partners, the round includes new investor, Egan-Managed Capital. Travis D. Connors, partner at Egan, will join the Currensee Board of Directors.
Location: USA, Boston, MA
Category: Social Network, Finance
Press Release
Related Fusion DigiNet entry:
- StockTwits has acquired finance website Abnormal Return for an undisclosed sum
- StocTwits raises $3M

5. Dukky has raised a second round of funding

Dukky a direct response company that utilizes proprietary social sharing technology to increase marketers’ response rates, announced today that it received a second round of funding. With this latest round, the company has received a total of $3 million of capital to date.
Investors: A group of investors led by LongueVue Capital
Location: USA, New Orleans
Category: Marketing
Press Release

6. KODA has raised $1.5 million

KODA the online community for employers to recruit young professionals has received an additional $1.5 million infusion in private angel funding. The funds will support the company’s growing user base and continued community expansion.
Location: San Francisco, CA and New Orleans, LA
Category: Recruitment
Press release

7. Moonshoot has raised $6.6 million

Moonshoot, a startup whose mission is teaching English to children globally through an online gaming experience, has raised a total of $6.6M in venture backed financing.
Investors: Led by Alsop Louie Partners and TL Ventures. Gilman Louie of Alsop Louie Partners and Anthony Chang of TL Ventures have joined Moonshoot’s Board of Directors.
Location: USA, Palo Alto, CA
Category: Education
Press release

8. Mog.com raises $9.5 million

Subscription music service Mog.com has closed a second round of funding.
Location: USA, Berkeley, CA
Investors: Previous investor Menlo Ventures and VC firm Balderton Capital
Category: Music

9. Music Mastermind raises $4.85 million

Music Mastermind, the company has developed technology that makes music creation fun, easy, and intuitive for everyone, regardless of musical ability, has raised $4.85 million in Series A funding.
Location: USA, Calabasas, CA
Category: Music
Press release

10. MyEdu raises $5.5 million

MyEdu, the online source to increase success and save money in college, today announced $5.5 million in series B funding. MyEdu plans to use the funding to expand its university partner network and introduce new services to help millions of users nationwide achieve a college degree more efficiently.
Investors: led by Bain Capital Ventures, the venture capital affiliate of Bain Capital.
Location: USA, Austin, TX
Category: Education
Press Release

11. PeerPong has raised $2.8 million

Expert community and search company PeerPong has raised $2.8 million.
Investors: Doll Capital Management, First Round Capital, Charles River Ventures and Partech International.
Location: USA, San Francisco, CA
Category: Search

12. Smilebox has raised $2 million

Online photo and music scrapbook service Smilebox has raised $2 million. The funds will be used for European expansion.
Location: USA, Redmond, WA
Category: Consumer website
Related Fusion DigiNet entry: Scrapblog, a website that lets you create your own personalised scrapbook, has raised $2.5M

13. Rent The Runway has raised $15 million

Online designer dress rental company Rent The Runway has raised $15 million.
Location: USA, New York, NY
Category: Retail
New York Times article

Posted in ~Europe, ~North America. Leave a Comment »

UBM TechWeb acquires Game Advertising Online for upto $8million

February 26, 2010 — Fusion DigiNet

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website

ACQUISITION
FDN Database Reference: F231109-341

Acquirer: United Business Media
ACQ Web: http://www.ubm.com
Other Web Links: UBM TechWeb
Location: USA, New York, NY
Region: North America
Description 1: UBM – focuses on two principal activities: worldwide information distribution, targeting and monitoring; and, the development and monetisation of B2B communities and markets.
Description 2: UBM TechWeb – brands include: global face-to-face events such as Interop, Game Developers Conference (GDC), Web 2.0, Black Hat and VoiceCon; large-scale online networks such as InformationWeek, Light Reading and Gamasutra; research, training, and certification services, including HDI, Pyramid Research, and InformationWeek Analytics; and market-leading magazines such as InformationWeek and Wall Street & Technology.
Category: Media owner
Contact: Tony Uphoff, Chief Executive Officer of UBM TechWeb

Vendor: Game Advertising Online (GAO)
Vendor Web: http://www.game-advertising-online.com
Location: New Zealand
Region: Oceana
Description: Founded in 2006, GAO is a banner advertising agency working for publishers in the online video game industry. Using a self-service, auction-based system, GAO places in-game and banner advertising on leading gaming websites, utilising both cost-per-click and cost-per-acquisition business models. GAO provides access to 50 million unique users and delivers over 2 billion advertisement impressions per month through a diverse worldwide network of free-to-play MMORPG (massively multiplayer online game), casual, browser-based and mainstream gaming websites, as well as game community networking sites.
Category: Advertising

Aprox. Value: An initial cash consideration of $1m, with a further performance-related consideration of up to $7m.

Details: United Business Media Limited has acquired Game Advertising Online (GAO) from private ownership on behalf of UBM TechWeb. GAO is expected to generate revenue of approximately $4m in the twelve months to March 2010.

Link: Company Announcement

Posted in Content Media, Games, Internet Media, Publishers, ~North America, ~Oceana. Leave a Comment »

Match.com acquires Singlesnet

February 26, 2010 — Fusion DigiNet

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website

ACQUISITION
FDN Database Reference: F231109-340

Acquirer: Match.com (an operating business of IAC/InterActiveCorp (Nasdaq: IACI))
ACQ Web: http://www.match.com
Location: USA, Dallas, TX
Region: North America
Description:  Match.com – launched on the Web in 1995 and operates some of the leading subscription-based online dating sites in 25 countries, in 8 languages and spanning five continents, as well as oversees its ongoing investment in Meetic. Match.com also powers online dating on MSN across Asia, Australia, the United States and Latin America. Match.com is an operating business of IAC ( IACI). IAC – operates more than 50 leading and diversified Internet businesses across 30 countries.
Category: Dating
Contact 1: Greg Blatt, CEO
Contact 2: Adrian Ong will assume responsibility for Singlesnet

Vendor: Singlesnet
Vendor Web: http://www.singlesnet.com
Location: USA, Needham, MA
Region: North America
Description: Online dating Web site, launched in 1998. Members can search for and communicate with thousands of singles across the United States. Singlesnet connects singles via instant messaging, online forums, emails and chat rooms.
Category: Dating
Contact: Quinn Lipin, founder and CEO

Aprox. Value: Undisclosed

Details:  Match.com, an operating business of IAC (Nasdaq: IACI), has signed an agreement to acquire Singlesnet, one of the most visited online dating sites in the United States. According to Greg Blatt, CEO of Match.com, it is more of a value acquisition than a strategic one, and Singlesnet will predominantly be run as a standalone business.

Link: Press Release

Posted in ~North America. Leave a Comment »

Oahu Publications to Acquire Honolulu Advertiser

February 26, 2010 — Fusion DigiNet

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website

ACQUISITION
FDN Database Reference: F231109-339a

Acquirer: Oahu Publications
ACQ Web: http://oahupublications.com
Location: USA, Honolulu, HI
Region: North America
Description: OPI is a private company that owns and publishes the Star-Bulletin daily newspaper, Midweek and other weekly newspapers and magazines. OPI also manages Internet sites and is engaged in commercial printing. The company was established in 2001. Its majority shareholder is Sound Publishing Holding Inc., a subsidiary of Black Press Ltd. Local shareholders include Jeffrey and Lynn Watanabe, Duane Kurisu, Larry and Claire Johnson, Island Holdings Inc., Daniel Case, and CS Wo and Sons Ltd.
Category: Newspapers, Publisher
Contact 1: David Black, chairman of OPI

Vendor: Gannett Co.
Vendor Web: http://www.gannett.com
Business Sold: The Honolulu Advertiser
Other Web Links:
Location: USA, McLean, VA
Region: North America
Description: Gannett Co. Inc. (NYSE:GCI) is an international news and information company operating on multiple platforms including the Internet, mobile, newspapers, magazines and TV stations. Gannett is an Internet leader with hundreds of newspaper and TV Web sites; CareerBuilder.com; USATODAY.com; and more than 80 local MomsLikeMe.com sites. Gannett publishes 83 daily U.S. newspapers, including USA TODAY, the nation’s largest-selling daily newspaper, and more than 650 magazines and other non-dailies including USA WEEKEND. Gannett also operates 23 television stations in 19 U.S. markets. Gannett subsidiary Newsquest is the United Kingdom’s second largest regional newspaper company with 17 daily paid-for titles, more than 200 weekly newspapers, magazines and trade publications, and a network of Web sites.
Category: Newspapers, Media owner
Contact 1: Craig A. Dubow, Chairman and CEO
Contact 2: Bob Dickey, president of Gannett’s U.S. Community Publishing
Aprox. Value: Undisclosed

Details: Gannett Co., Inc. (NYSE:GCI) and Oahu Publications, Inc. (OPI) have reached an agreement for OPI to acquire The Honolulu Advertiser and related assets including website, non-daily publications and Gannett’s interest in Hawaii.com. Gannett will maintain its ownership of 605 Kapiolani Blvd., Honolulu.

The sale is subject to regulatory and other approvals and is expected to close in the second quarter of 2010. Because the Star Bulletin and The Honolulu Advertiser are daily newspaper competitors, OPI has discussed the purchase of The Advertiser with the Department of Justice and the Attorney General of Hawaii.

The Honolulu Advertiser was founded in 1856. Gannett purchased the paper in 1993.

Link: Press Release

Posted in ~North America. Leave a Comment »

Local online marketing company ReachLocal Acquires SMB:LIVE

February 26, 2010 — Fusion DigiNet

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website

ACQUISITION
FDN Database Reference: F231109-338

Acquirer: ReachLocal
ACQ Web: http://www.reachlocal.com
Other Web Links: Twitter, Facebook
Location: USA, Woodland Hills, CA
Region: North America
Description: ReachLocal helps small- and medium-sized businesses acquire, maintain and retain customers via the Internet. ReachLocal offers a comprehensive suite of online marketing and reporting solutions, including search engine marketing, display advertising, remarketing and online marketing analytics, each targeted to the SMB market. ReachLocal delivers these solutions to SMBs through a combination of its proprietary platform; its direct, “feet-on-the-street” sales force of Internet Marketing Consultants; and select third party agencies and resellers.
Category: Advertising

Vendor: SMB:LIVE
Vendor Web: http://www.smblive.com
Other Web Links: Twitter, Facebook
Location: USA, Reston, VA
Region: North America
Description: Developer of digital presence and reputation management solutions for small- and medium-sized businesses
Category: Technology

Contact: Alex Hawkinson, ReachLocal’s general manager of digital presence. Previously SMB:LIVE’s chairman and chief executive officer

Aprox. Value: Undisclosed

Details: ReachLocal, Inc., a local online marketing company, announced today that it has acquired SMB:LIVE corporation, a developer of digital presence and reputation management solutions for small- and medium-sized businesses

Link: Press Release

Posted in ~North America. Leave a Comment »

Baidu’s online video company to receive $50M investment from Providence Equity Partners

February 26, 2010 — Fusion DigiNet

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website

FUND RAISING
Database Reference: F231109-354

Business: Baidu
Web: http://www.baidu.com
Other Web Links: http://www.qiyi.com
Location: China, Beijing
Region: Asia
Business description: Baidu, Inc. is the leading Chinese language Internet search provider. In addition to serving individual Internet search users, Baidu provides a platform for businesses to reach potential customers. Baidu’s ADSs, each of which represents one Class A ordinary share, are currently trading on the NASDAQ Global Select Market under the symbol “BIDU.”
Category: Search, Video
Contact: Robin Li, Chief Executive Officer

Investors: Providence Equity Partners
Contact: Jonathan Nelson, Chief Executive Officer of Providence

Amount raised: $50,000,000

Details: Baidu, Inc. (Nasdaq: BIDU) has announced that Baidu and Providence Equity Partners (“Providence”) have signed an agreement pursuant to which Providence will invest $50 million in Baidu’s new online video company to develop an advertising supported online video business providing premium licensed content in China. Baidu will continue to maintain majority ownership in the company. The new online video company has registered http://www.qiyi.com as its domain name.

Link: Press Release

Posted in ~Asia. Leave a Comment »

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