Digital Media M&A


Social Messaging Apps Firm BigString Buys IM Firm Buddystumble — Two companies I had not heard of before, but I guess they exist: BigString, an OTC-traded provider of social networking messaging apps, has bought out Buddystumbler, an IM-based social network that integrates all other major IM clients in an online environment…both of them are similar to the much bigger and well-known Meebo. The deal was done as an all-stock transaction, and future rev share.

Twitter Buys Micro-Blogging Search Site Summize; Reportedly $15MM Cash+Stock — Twitter announced today that it has officially acquired Summize, according to a post written by Twitter co-founder Biz Stone. All five of Summize’s engineers will move to San Francisco and take jobs at Twitter, according to the company. “This is an important step forward in the evolution of Twitter as a service and as a company,” Stone wrote. Summize will help users search Twitter and keep up to date with news real-time (which they have already enabled, as shown above and on their site)—two examples they use is keeping up to date on Mars, and what people are thinking of the new Will Smith movie. As for the details, the company says the Summize service and API will be merged with our own and integrated under the Twitter brand. To get an idea of how search works, it can be checked out at search.twitter.com. The terms of the deal were not announced, but Silicon Alley Insider is reporting that Twitter paid $15 million in cash and stock. Twitter has received a lot of criticism recently for its ability to handle all of its traffic, but as of recently seems to be making a bit of a turnaround.

Expedia Buying European Hotels Site Venere — Expedia is following its acquisition of a majority of India’s TravelGuru site by buying Venere.com, an Italy-based travel site listing about 29,000 hotels in Europe and the US, for an undisclosed amount.. All told, it means an extra 10,000 Europe, Middle East and Africa hotels for Expedia. Venere, which has offices in Rome, London and Paris, has been majority-owned by buyout house Advent since 2006, though the four founders retained stakes and still keep hold of those shares. Originally started by Microsoft (NSDQ: MSFT), Expedia was later acquired and spun off by IAC and is steadily building (or, rather, buying) a big footprint, also owning TripAdvisor and Hotels.com. Expedia CEO said Dara Khosrowshahi (via release): “Acquiring Venere will bring a well-known, respected European consumer brand to the Expedia portfolio.”

Merrill Reaches Deal To Sell Bloomberg Stake: Report — And it sounds like earlier details were basically correct… WSJ is reporting that Merrill has reached a deal to sell its 20 percent in financial news service Bloomberg for $4.5-$5 billion. The buyer is Bloomberg LP, which had a right of first refusal. News of an imminent deal at this prace was first reported last week. There’s no word on when the announcement will be made, but it could come as early as tomorrow, when capital-hungry Merill announces quarterly earnings to much anticipation.

Comcast-Owned thePlatform Buys Social Media Apps Firm Chirp Interactive — thePlatform, the broadband and mobile video services provider that is now part of Comcast,, has acquired assets from San Francisco-based Chirp Interactive, a provider of social media applications…some of Chirp’s employees are transitioning into the bigger company. Chirp’s standalone service will not continue, but its community and content discovery features will be integrated within thePlatform’s media publishing system. In addition, thePlatform, based in Seattle, is now expanding into Silicon Valley, including opening a branch office.

Glam Media Uber Alles: Expanding Into Germany, Buying Munich’s Codex Media — Glam Media is opening a German site with help from its backer Burda Cross Media. Glam is also getting some extra assistance from its latest acquisition, Munich-based digital marketing firm Codex Media, the company announced. Terms were not disclosed. The move is part of a wider European expansion Glam has been pursuing lately, including last month’s acquisition of London-based online ad sales rep firm firm Monetise.

Google Buys Russian Search Firm For $140 Million — Fresh from its poor second quarter earnings report, Google is aiming to boost overseas revenues through the acquisition of Russian contextual ad firm ZAO Begun. TechCrunch reports that the search giant has agreed to pay UK-based Rambler Media $140 million for the firm. Rambler owned a 50.1% stake in Begun, but agreed to by the rest of it in order to sell to Google at a profit. The UK company will net about $50 million from the deal. As part of the deal, Rambler will now use Google AdSense for its search and contextual services.

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