29.6.07

Axel Springer / auFeminin.com

Le groupe de presse allemand Axel Springer a annoncé le rachat à ses fondateurs de 41,4 % du capital d'auFeminin.com (CA 2006 : 13,4 MEUR, capitalisation boursière : 124 MEUR) et le lancement d'une OPA sur le solde du capital au prix de 32 EUR par action.

L’offre d'Axel Springer valorise la société à 288 MEUR. 27,4 % seront réglés en numéraire aux trois fondateurs, pour un montant de 78 millions d'euros, et 14,3 % seront apportés à une société allemande, qui sera contrôlée par Axel Springer.

Fondé en 1999 et présent dans huit pays en Europe et au Canada, auFeminin.com se définit comme le premier portail Internet féminin. Avec cette acquisition, Axel Springer compte s'assurer le leadership dans la presse féminine en ligne, notamment en France et en Allemagne.

(c) Fusacq.com

28.6.07

Website Pros and Web.com, the listed Internet services providers, have announced they have agreed to merge in a USD 129m transaction.

Shareholders of Georgia-based Web.com may elect to receive for every Web.com share either 0.6875 shares of stock in Florida-based Website Pros or USD 6.5233 in cash, subject to proration so that the total cash paid shall equal USD 25m. In the aggregate, Website Pros will issue approximately nine million shares of Website Pros stock and pay USD 25m in cash.

In addition, Website Pros will assume all of the outstanding options to purchase common stock of Web.com at an exchange rate consistent with the value offered to holders of Web.com common stock. Based on the closing price of Website Pros' stock on 26 June, the transaction is valued at USD 129m.

The merger, which is subject to regulatory reviews and approvals, approval by the shareholders of both companies and certain other customary conditions, is expected to close during the second half of 2007.

(c) Company press release

19.6.07

Cybersource / Authoriza.net

Cybersource, the California-based company that provides electronic payment and risk management solutions, acquired Authorize.Net, a listed Massachusetts provider of IP-based payment solutions.
The deal is valued at USD 565m, according to a press release.

The acquisition joins two highly complementary businesses, positioning CyberSource to further capitalize on the growing Web-based payment opportunity.
Both companies are leaders in enabling e-commerce businesses to accept online payments for goods and services. CyberSource, with approximately 20,000 customers, has traditionally focused on managing payments for midsized and enterprise customers.

Authorize.Net, with more than 175,000 customers, has specialized in small businesses. Collectively, the companies processed approximately 1.1bn transactions in 2006, representing USD 65bn of e-commerce.
The acquisition will enable CyberSource to provide leading payment solutions to all segments of the e-commerce industry.

Under the agreement, Authorize.Net shareholders will receive 1.1611 shares of CyberSource common stock for every share of Authorize.Net common stock.
Additionally, shareholders will receive a pro-rata share of approximately USD 125m in the form of a cash payment. The agreement was approved by the boards of directors of both CyberSource and Authorize.Net.

Subject to obtaining applicable shareholder approvals and satisfaction of all regulatory requirements, the transaction is expected to close in late September or early October 2007.

This transaction is expected to be accretive in the fourth quarter of 2007 on a non-GAAP basis, which excludes stock-based compensation expense, a reduction in the tax allowance, the noncash portion of the tax provision, depreciation and amortization expense, and certain nonrecurring charges and income.

Goldman Sachs & Co. served as financial advisor to CyberSource, and Jefferies Broadview, a division of Jefferies & Co., served as financial advisor to Authorize.Net for this transaction.

(c) Company Press Release

8.6.07

France Telecom / Ya.com

France Télécom a annoncé l'acquisition du fournisseur d'accès à Internet via l'ADSL Ya.com.

La valorisation du troisième opérateur Internet espagnol ressort à 320 MEUR. France Télécom, qui mise beaucoup sur son développement en Espagne, franchit une étape supplémentaire en rachetant le troisième acteur du marché espagnol de l'Internet haut débit avec quelque 400.000 abonnés à l'ADSL, France Télécom va ainsi devenir le numéro deux de l'ADSL sur le marché espagnol avec 1,08 million de clients, part de marché (18 %) qui reste cependant relativement faible par rapport à l'opérateur historique, Telefonica.

Côté téléphonie mobile, après le rachat d'Amena pour 10 MdEUR en 2005, Orange occupe la troisième place avec 24 % du marché derrière TelefonicaMobiles (46,2 %) et Vodafone (29,7 %).

(c) Fusacq.com