Mergers and Acquistions: July 2008 Archives
Forrester Research announced the acquisition of JupiterResearch, LLC., and its parent company, JUPR Holdings, Inc., from MCG Capital Corporation for $23
JupiterResearch has 83 employees and 2007 revenues of approximately $14 million. Forrester, with 2007 revenues of $212 million, now has more than 1,000 employees. JupiterResearch joins Forrester's Marketing & Strategy Client Group, which contributed $46.4 million to Forrester's total revenue in 2007.
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New Motion, Inc., doing business as Atrinsic an Internet media and mobile entertainment company, today announced that it has acquired the assets of Ringtone.com, a popular mobile entertainment destination for downloadable mobile content and a highly valuable Internet domain which receives more than 1,000 signups per day.
SilverBirch Inc. a leading digital
media company, today announced an agreement in principle to acquire all of the
outstanding shares of Red Mile Entertainment, Inc., a
California-based video game publisher with worldwide rights to established
brands and intellectual properties including the "Heroes" flight combat
franchise.
Red Mile, an NASD OTC Bulletin Board listed company, has developed and published a number of successful console and PC titles including Heroes Of The Pacific, which sold over 600,000 units. Current projects in development include a sequel, Heroes Over Europe, which is anticipated to be released in early 2009, and another highly anticipated licensed title, for which the company will seek a co-publishing partner.
Red Mile is expected to contribute over $7 million in revenue and roughly $2 million in EBITDA starting in 2009. SilverBirch has advanced a bridge loan of $750,000 CAD dollars to Red Mile as part of the acquisition terms, and will also issue seven-eighths of one SilverBirch share from treasury in exchange for each Red Mile share, plus an earn-out based on future revenue targets. Currently 16,544,461 Red Mile shares and warrants qualify for the transaction, which equates to 14,476,403 new Silverbirch shares. The transaction is subject to regulatory and exchange approvals both in Canada and the United States as well as, in the case of Red Mile, shareholder approval.
NAVTEQ, provider of digital map data for location-based solutions and vehicle navigation, announced today that Nokia has received unconditional approval from the European Commission for its planned acquisition of NAVTEQ. With this, Nokia now has received all approvals for the purchase. The parties expect to close the deal within the next five business days.
"We welcome this news. NAVTEQ will play a key role in our Internet services strategy with world-leading maps and navigation industry expertise, a strong customer base and industry-leading map data and technology platform offering the broadest geographical coverage," said Olli-Pekka Kallasvuo, President and CEO, Nokia.
"We are pleased that the Commission has reached the same conclusion we have regarding NAVTEQ's ability to continue providing broad access to all our customers," said Judson Green, President and CEO, NAVTEQ. "We believe NAVTEQ will be better positioned to serve all our customers under Nokia ownership."
