Yahoo! / Right Media

Yahoo! Inc, the Nasdaq-listed Internet company, today announced that it has entered into a definitive agreement to acquire Right Media Inc., creator of the Right Media Exchange.

Under the terms of the agreement, which follows Yahoo!'s 20% strategic investment in Right Media in October 2006, Yahoo! will acquire the remaining equity interest in Right Media for approximately USD 680m. Shareholders will be paid in approximately equal parts cash and stock, and Right Media options and similar equity awards will be assumed by Yahoo!.

The Right Media Exchange is the industry’s largest emerging online advertising exchange, and as publishers increasingly turn to exchanges to monetize their ad inventory, this acquisition will help Yahoo! establish a leading position in this large, attractive and fast growing segment of the online ad market.

Right Media’s open exchange will facilitate a frictionless model where buyers have equal opportunity to engage with the largest, most valuable audiences and to extract the maximum value from their campaigns and sellers can access an enormous pool of advertisers and foster competition for their inventory to maximize revenue. Yahoo! will increase its participation in the Right Media Exchange both as a buyer and seller to help increase liquidity in the exchange while empowering publishers and advertisers to generate more value for themselves within this vibrant marketplace.

(c) Company Press Release


Google / DoubleClick

Google, a listed California search engine company, said it will acquire DoubleClick, a New York digital marketing technology and services, for USD 3.1bn in cash.
DoubleClick was acquired from California-based private equity firm Hellman & Friedman, along with JMI Equity and management.

The acquisition will combine DoubleClick's expertise in ad management technology for media buyers and sellers with Google's leading advertising platform and publisher monetization services. Both companies have approved the transaction, which is subject to customary closing conditions, and is expected to close by the end of the year.

(c) MergerMarket.com


Software / webMethods

Software, the listed German software company, and webMethods announced that they have entered into a definitive agreement for Software AG to acquire webMethods in a cash tender offer for USD 9.15 per share or approximately USD 546m.

webMethods is a leading business integration and optimization software company. It reported revenue of USD 208m in fiscal 2006. Software AG would add this to its fast growing business line Crossvision (fiscal 2006 revenue EUR 108m/ USD 134m) which offers a comprehensive SOA suite with SOA Governance and Legacy Modernization capabilities. The combination is expected to enhance Software AG’s competitive position with a leading product portfolio in the SOA market and to improve its position in the US market.

Software AG expects this transaction to be strongly accretive to Software AG’s operating earnings from 2008 onwards.

The transaction has been approved by the Supervisory Board of Software AG. webMethods’s Board of Directors also approved the transaction and will recommend that its shareholders accept the offer. The transaction is subject to regulatory approvals and other customary closing conditions, and is expected to close by the end of the first half of 2007. Software AG expects to fund the USD 546m acquisition through its existing cash resources as well as debt financing. Given the complementary nature of Software AG’s and webMethods’ businesses, Software AG expects to recognize synergies through both revenue enhancement and cost savings.

(c) MergerMarket.com