ICG Announces Completion of Sale of LinkShare Corporation to Rakuten, Inc.
10/3/2005 8:30:01 AM
WAYNE, Pa., Oct 03, 2005 (BUSINESS WIRE) -- Internet Capital Group, Inc. (ICGE), today announced that the acquisition of its partner company, LinkShare Corporation, by Rakuten, Inc. (JASDAQ:4755), was consummated on September 30, 2005.
ICG's share of the cash proceeds was $136 million. In addition, proceeds of $14 million were placed in escrow for one year. ICG recorded an after-tax gain of approximately $101 million. The release of any proceeds from escrow in 2006 will result in an additional gain.
About Internet Capital Group
Internet Capital Group (www.internetcapital.com) owns and builds Internet software companies that drive business productivity and reduce transaction costs between firms. Founded in 1996, ICG devotes its expertise and capital to maximizing the success of these platform companies that are delivering on-demand software and service applications to customers worldwide.
About LinkShare Corporation
LinkShare Corporation is a leading provider of technology solutions to track, manage, and analyze the performance of sales, marketing, and business development initiatives. Combining patented technology, the reach and distribution of a robust network, and expert account management services, LinkShare empowers clients with the ability to collaborate with partners online and develop cost-efficient pay-for-performance campaigns. In 2004, approximately 2% of U.S. retail e-commerce, or $1.4 billion, passed through the LinkShare network. LinkShare provides the platform, tools, and reporting to help clients acquire new customers, increase revenues, drive results, and measure success across affiliate, search, and e-mail initiatives. LinkShare clients are Fortune 500 and prominent companies doing business online, and include J.C. Penney, 1-800-Flowers.com, American Express, Avon Products and Dell. LinkShare was founded in 1996 and is headquartered in New York City, with offices in San Francisco, Denver, and Chicago.
LinkShare's investors include Mitsui & Co., Ltd. (MITSY), Mitsui & Co. (U.S.A), Inc., Internet Capital Group (ICGE), and Comcast Interactive Capital, an affiliate of Comcast Corporation (CMCSK)(CMCSA). Please visit linkshare.com for more information.
About Rakuten, Inc.
Rakuten, Inc., is a leading Internet portal in Japan, bringing a wide range of services to consumers through its main division companies in E-Commerce (EC), Portal and Media, Travel, Financial Services, and Professional Sports.
The EC company provides a general on-line market for consumers, on-line auctions, and a place for B2B trade in used goods. The Portal and Media company offers Internet search and marketing services, job search, and satellite TV channels. On-line hotel and international air reservations can be done through the Travel company, and the Financial Services company houses Rakuten Securities, one of Japan's strongest on-line brokerage services, and also provides personal financial services. Lastly, Rakuten is the proud owner of a professional baseball team -- the Rakuten Golden Eagles.
Rakuten is a public company listed on the JASDAQ with a market capitalization as of September 5, 2005 of $9.7 billion. |
