Google To Acquire Channel Intelligence In $125 Million Deal
Channel Intelligence, an ICG Group subsidiary and provider of technology to ecommerce-enabled companies, said Wednesday that Google intends to
acquire the company for $125 million in an all-cash deal.
In an 8-K filing with the Securities and Exchange Commission, ICG estimates gains related to the 2012 consolidation of CI's parent company and the sale of its stake to Google at $43 million -- approximately $26 million of which was recorded in the three months ended September 30, 2012. Approximately $17 million of that will be recorded on the closing of the transaction.
ICG should realize $60.5 million in connection with the transaction, which should close during the first quarter of 2013.
In June 2012, CI announced executive changes. Rob Wight, founder and CEO of CI, stepped in as chairman of the board and chief software architect. Doug Alexander, president of ICG, would serve as CEO. The transition was intended to support a growth spurt the company experienced at the time.
For brands and manufacturers, CI manages more than 80% of all "Where to Buy links" on Web sites, search, blogs and display ads. The company supports brands that sell through Google's services, like Google Shopping, claiming its PLA clients had 466% year-over-year sales growth in the first quarter of 2012.
Recent Online Media Daily Articles
-
Coca-Cola Loses Bid To Dismiss Text-Spam Case May 24, 5:41 p.m.
Consumers can proceed with a lawsuit against Coca-Cola for allegedly sending them unwanted SMS messages, a ... -
Disaster Ready: Google Maps Model Quickly Adjusts To Events May 24, 5:29 p.m.
The four-lane bridge in Washington state that partially collapsed Thursday into the Skagit River was removed ... -
Pandora Beats Rev Estimates, Adds Subscribers May 24, 5:01 p.m.
Online radio service Pandora on Thursday reported that revenue rose 55% in the first quarter to $126 ... -
Real-Time Web Turns Consumers Into Impulse Buyers May 24, 4:37 p.m.
Video, mobile, social, and better search capabilities continue to make it easy for consumers to buy ... -
Mugnier Shares M&C Saatchi's Mobile Approach May 24, 4:32 p.m.
M&C Saatchi Mobile was formed three years ago through the acquisition of mobile marketing agency Inside ... -
Yahoo Search Experiments With New Look May 23, 6:30 p.m.
Yahoo Search has been experimenting with colors, features and layouts, as the company tries to determine ... -
Path Seeks Dismissal Of Wireless-Spam Case May 23, 5:07 p.m.
Mobile social network Path is asking a federal judge to dismiss a lawsuit alleging that the ... -
Amazon Appstore Goes Global May 23, 4:59 p.m.
Amazon may have been late to the app store game, but that hasn’t stopped it from ... -
Data Is Springboard For Product Development May 23, 4:44 p.m.
iProspect named Ben Wood to global president Thursday; he's tasked with growing the company's network and ... -
Vice, Twitter Partner For Mobile Show May 23, 2:14 p.m.
Simultaneously expanding its video and social strategy, Vice on Thursday unveiled #dailyvice -- a daily show ...
Be the first to comment on "Google To Acquire Channel Intelligence In $125 Million Deal"
Leave a Comment