Archive for Flux

Digital Media M&A

Posted in Deals, Digital Media, News with tags , , , , , , , , , , , , on September 26, 2008 by Dave Liu

MTV Buys Remaining Stake Of Social Net Aggregator Flux — MTV Networks has acquired Social Project Inc., the company that runs social media aggregator, which has been working with the Viacom unit to build up community tools around its sites over the past two years. Terms weren’t disclosed. The announcement was made at a press conference at MTVN’s offices by Mika Salmi, president, global digital media for MTVN (NYSE: VIA). MTVN first invested in Tagworld, which became Social Project, in November 2006. Flux now has 7.6 million, with 2 million adding since opening up its platform last fall.

Online Video Syndication Service Voxant Acquired By Anystream — Online video encoding and content management firm Anystream has acquired another small vendor in its sector: it has bought out online video syndication service Voxant. Financial details were not disclosed. Both of the companies are based in Virginia, and share two venture investors SoftBank Capital and Court Square Ventures, which probably helped in the deal.

Online Streaming Delivery Firm Abacast Buys P2P CDN — More activity in the CDN market: Abacast, the streaming media delivery firm, has bought out a smaller P2P-based CDN Tukati, for an undisclosed sum. The two companies had been partnering for a while… combined they will offer streaming; on demand video, game, and software distribution; progressive video delivery; and push delivery.

BankRate Acquires Bankaholic For Up To $15 Million — Financial info site BankRate is expanding its financial product listings, as it’s acquiring Bankaholic, which provides info on deposits, savings accounts, and money market accounts. The company will pay $12.4 million up front, with another $2.5 million possible earnout over the next 12 months. Bankaholic’s sole employee John Wu will assist in the transition and remain for an unspecified period of time. BankRate, of course, is exposed to some of the nastier aspects of the economy, though it’s held up fairly well and continued to grow. It’s also made acquisitions in order to diversify its range of financial products—last December it acquired and Nationwide Card Services for at least $29 million. The company has also seen competition from TheStreet, which acquired BankingMyWay, a much smaller site with a similar service.

Interactive Marketer ClickSquared Buys UK’s Rocket Science — Looking to expand into Europe, lead gen and email marketer ClickSquared has bought UK online marketing services provider Rocket Science. Terms weren’t disclosed. Waltham, MA.-based ClickSquared says it had been searching for the right European complement for over a year. The company’s European base will operate from Rocket Science’s existing UK offices in Leeds and Middlesbrough. As part of the merger agreement, all of Rocket Science’s 27 staffers will report to Andrew Campbell, managing director ClickSquared Europe.