SEL: Isobar Acquires iProspect

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December 22, 2004

Isobar Acquires iProspect

Just this morning I was thinking to myself that iProspect had been keeping a low profile recently. Now we know why...

Isobar, the global full service digital network created earlier this year by U.K. firm Aegis PLC, today announced it has acquired 100% of iProspect

Maybe the first thing iProspect can do is help Isobar get rid of that flash splash screen. ;-)

So who has the inside details? How much did they sell for and will Mr. Marckini be staying on or retiring to the beach?

Update: From the Aegis website..."The purchase price will be composed of initial consideration of approximately $32.0 million payable in cash on completion. There will also be deferred cash consideration of up to $18.0 million, payable over two years, subject to the satisfaction of rigorous performance criteria. "

So Aegis paid $32m in cash and maybe another $18m. I hope they kept the receipt. Typically, when a company sells for all cash, it means the principle has no plans to stay with the company long-term. I know that the guys at iProspect love reading this blog, so maybe they'll drop me a line to let me know. Then again, maybe not. ;-)

Update #2: Looks like Marckini and Murray are staying..."Founder and chief executive Fredrick Marckini and president Robert Murray will continue to oversee iProspect's day-to-day operations."

Andy Beal | permalink | +marktd |

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