logo
  Join        Login             Stock Quote

Google (GOOG) To Acquire Channel Intelligence In E-Commerce Push

 February 06, 2013 09:34 AM
 


(By Balachander) ICG Group Inc. (NASDAQ: ICGE) said one of its consolidated companies Channel Intelligence Inc. (CI) agreed to be acquired by Google Inc. (NASDAQ: GOOG) for $125 million in cash.

ICG, which acquires and builds Internet software and services companies, expects to realize roughly $60.5 million related to the deal.

ICG said gains relating to the 2012 consolidation of Channel Intelligence's parent company and the sale of its stake to Google total around $43 million.

[Related -Boost Your Dividend Yield]

ICG identifies, capitalizes and grows companies in the SaaS and tech-enabled BPO sectors. It looks to invest in companies with revenue greater than $10 million, 20 percent to 30 percent CAGR and positive EBITDA margin.

CI specializes in product ecommerce and its data-driven services drive product sales online.

Relied upon by companies such as Target (TGT), Philips, HP (HPQ), Neiman Marcus, Best Buy (BBY) and Kimberly-Clark (KMB); CI claims it tracks nearly 15 percent of US transactions online and drives $2B in sales annually in referred sales online in computing, home improvement, appliances, consumer electronics, toys and a variety of other consumer packaged goods.

[Related -Google Inc (GOOG): Why Nest Labs Deal Is A Wakeup Call For Apple Inc.?]

The deal is expected to close in the first quarter of 2013.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageXerox Corp. (XRX): An Insider’s $500,000 Insider Buy

Last week was a healthy week of insider buying as 194 companies reported purchase records. The number read on...

article imageQihoo 360 Technology Co Ltd. (QIHU) Q2 Earnings Preview: A Green Monday

Qihoo 360 Technology Co Ltd. (NYSE:QIHU) will report its second quarter 2014 financial results on Monday, read on...

article imageSix Stocks that Could Outperform in the next 90 days

Earlier today, Goldman Sachs put out its list of the 50 stocks that Matter Most. It’s a list of the 50 read on...

article imageFoot Locker, Inc. (FL) Q2 Earnings Preview: Running Past the Street View

Foot Locker, Inc. (NYSE:FL) plans to report financial results for its second quarter ended August 2, 2014 read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.