Atlas Acquires Accipiter
12 12월 2006 - 10:00AM
Business Wire
Atlas, the technologies business unit of aQuantive, Inc.
(NASDAQ:AQNT), today announced the acquisition of all of the
outstanding shares of Accipiter. Accipiter was acquired in exchange
for cash consideration of $30.3 million. Accipiter sells ad serving
technologies to web publishers in more than 20 countries. Accipiter
offers web publishers an ad serving solution that enables the
publisher�s direct sales force to maximize revenue earned from
premium display and text placements. The solution includes
behavioral targeting and rich media capabilities, and operates
across emerging media platforms. Many publishers have also found
that the Accipiter solution is highly effective in maximizing the
revenue they receive from their remnant inventory because it
enables yield optimization across a publisher�s network partners.
�As Internet advertising has grown increasingly specialized, and as
Atlas has continued to gain market share amongst advertisers and
agencies, publishers have asked Atlas for sell-side-focused digital
advertising solutions. Accipiter�s highly developed ability to
maximize publishers� revenue from both brand and direct
response-focused advertisers complements Atlas�s core strength and
position among buyers of Internet advertising. We believe our
position with the buy-side -- where media purchasing decisions are
made -- coupled with our core strengths in analytics, will enable
us to deliver meaningful innovations to market for publishers.
Given the importance of the sell-side in both new media and
international markets, we believe Accipiter will accelerate Atlas�s
opportunity and impact in the market,� said Karl Siebrecht,
president, Atlas. The Accipiter business was founded in 1996 and
has operated independently since 2002. From 1996 to 2002, the
Raleigh, North Carolina-based company operated under various
corporate parents, including Engage and CMGI. Joining Atlas will be
the long-standing Accipiter management team with co-founder and CEO
Brian Handly leading the team in Raleigh as senior vice president,
Atlas. European operations will join Atlas EMEA (Europe, Middle
East and Africa). Brian Handly commented, �Accipiter has a
market-leading product satisfying customers in over 20 countries.
Joining with Atlas allows us to leverage the resources of a large
company to expand our technology, serve our existing clients in new
ways, and accelerate our penetration into both domestic and
international markets. My team is excited to collaborate with the
rest of the Atlas team, reach broader sets of key publishers and
unlock value in emerging digital media markets.� Richard Dunmall,
senior vice president of Atlas EMEA, also noted, �Atlas and
Accipiter are passionate about creating market-leading, measurable
solutions for digital marketing, and are proud of our
client-focused and service-based cultures. Our combined teams will
be a powerful force for developing comprehensive, cutting-edge
platforms and delivering value to publishers and advertisers alike.
And, with Accipiter�s broad base of European business, Atlas will
now offer an even stronger global solution.� The transaction will
be accounted for under purchase accounting rules and is expected to
be accretive to EBITDA within the first 12 months after closing.
The cash consideration includes certain liabilities satisfied upon
closing and is subject to certain working capital adjustments after
closing of the transaction. In addition, stock options to acquire
shares of aQuantive were issued to certain Accipiter employees in
substitution for stock options outstanding on the closing date. At
this time, acquisition-related expenses and the allocation of the
purchase price among the assets acquired has not been determined.
Therefore, aQuantive is unable to provide estimates of the impact
on future Net Income. aQuantive does not anticipate material
revenue contributions from the acquired business in 2007. The
Company does anticipate a significant reduction to EBIT margins,
reflected in the Digital Marketing Technologies segment, for the
first and second quarters of 2007 with the long-term anticipated
range of 35-40% EBIT margins remaining unchanged for the year.
About Accipiter Accipiter provides publishers and advertisers with
innovative technology and services to maximize their online
advertising investments and create additional sources of revenue.
Accipiter has been serving and enriching the digital advertising
industry since 1996. As a pioneer and leader in online ad
management, Accipiter offers a comprehensive, unified ad platform
encompassing ad serving, ad trafficking, behavioral targeting, a
bid-for-placement system and a powerful advertising marketplace.
AdManager, Accipiter's core application, delivers billions of ads
monthly across all rich media types to hundreds of leading
publishers in more than 20 countries around the world. Accipiter�s
website address is www.accipiter.com. About Atlas Atlas is a
provider of digital marketing technologies and expertise. Atlas
offers agencies and marketers integrated solutions for online ad
campaign management, in-stream video, rich media, search marketing,
landing page optimization, reporting and analysis to maximize their
online ROI, and provides a highly scalable ad-serving platform to
help online publishers increase revenue. Atlas delivers the
industry's most complete service and support, serving its clients
from offices in Seattle, San Francisco, New York, Denver and
London. Atlas, an operating unit of aQuantive, Inc. (NASDAQ:AQNT),
is a member of the NAI, adhering to the NAI privacy principles that
have been applauded by the FTC, and is the first third-party ad
server to complete the auditing process and achieve ad measurement
accreditation by the Media Rating Council (MRC). Atlas�s website
address is www.atlassolutions.com. About aQuantive, Inc. aQuantive,
Inc., is a global digital marketing company, founded in 1997 to
help marketers acquire, retain and grow customers across all
digital media. It is the parent company of Avenue A | Razorfish,
the largest interactive agency in the U.S., and four international
agencies, DNA, Amnesia, Neue Digitale and e-Crusade; Atlas, a
provider of integrated digital marketing technologies and
expertise; and DRIVEpm, MediaBrokers and Franchise Gator,
performance media and behavioral targeting businesses. Through its
business units, aQuantive is positioned to bring value to any
interaction in the digital marketplace. Its stock (ticker symbol:
AQNT) is listed on the NASDAQ exchange. aQuantive�s website address
is www.aquantive.com. Certain statements in this press release are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Words such as "expects,"
"anticipates," "forecasts," and similar expressions identify
forward-looking statements, but their absence does not mean that
the statement is not forward-looking. Forward-looking statements
also include any other passages that relate to expected future
events or trends that can only be evaluated by events or trends
that will occur in the future. The forward-looking statements in
this release include, without limitation, statements regarding
expected financial performance during the next twelve months,
including the expectation that this transaction will be accretive
to EBITDA, statements regarding the expected positive marketing and
other effects that this transaction will result in for the combined
Atlas and Accipiter businesses, and other anticipated benefits of
the combination. The forward-looking statements are based on the
opinions and estimates of management at the time the statements
were made and are subject to certain risks and uncertainties that
could cause actual results to differ materially from those
anticipated in the forward-looking statements. These risks and
uncertainties include, among others, the risk of unforeseen changes
in client online marketing and advertising budgets, unanticipated
loss of clients as a result of this transaction or otherwise,
delays in product development efforts or other projects, the
potential failure to attract new clients due to the company's
inability to competitively market its services, the risk of
fluctuating demand for the company�s services, the potential
failure to maintain desired client relationships or to achieve
effective advertising campaigns for clients, potential
deterioration or slower-than-expected development of the Internet
advertising market either domestically or in international markets,
quarterly fluctuations in operating results, costs and risks
related to acquisitions of technologies and businesses, risks
relating to international operations, the short term nature of the
company's contracts with clients, which generally are cancelable on
90 days' or less notice, and the uncertainties, potential costs,
and possible business impacts of new legislation or litigation
involving the company. More information about factors that could
cause actual results to differ materially from those predicted in
aQuantive's forward-looking statements is set out in its annual
report on Form 10-K for the year ended December 31, 2005, as
supplemented in its quarterly report on Form 10-Q for the quarter
ended June 30, 2006, both filed with the Securities and Exchange
Commission. Readers are cautioned not to place undue reliance upon
these forward-looking statements, which speak only as of the date
of this release. Except as required by law, aQuantive, undertakes
no obligation to update any forward-looking or other statements in
this press release, whether as a result of new information, future
events or otherwise.
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