BuyMedia Acquires TvSCAN and CABLESCAN Divisions of TAPSCAN -- Creator of Leading Sales Software for TV and Cable Industries.Business Editors/High-Tech Writers BURLINGAME, Calif.--(BUSINESS WIRE)--Sept. 18, 2000 Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the Capital Group's (ICG ICG indocyanine green. ) Additional Support Enables Transaction, Broadening BuyMedia's Reach BuyMedia, Inc. (www.buymedia.com), an Internet Capital Group (Nasdaq:ICGE) partner company that provides technology solutions for advertising, today announced the acquisition of the TvSCAN and CABLESCAN divisions of TAPSCAN, provider of the dominant sales software used by TV stations and cable systems nationwide. With the acquisition of TvSCAN and CABLESCAN, BuyMedia extends to TV stations and cable systems the same Web-based sales and operations processes enjoyed by the radio stations currently using BuyMedia's Marketron software. Internet Capital Group (ICG) facilitated BuyMedia's acquisition of TvSCAN and CABLESCAN. This support comes on the heels of ICG's $45 million acquisition of interest in BuyMedia in January of this year. "The joining of BuyMedia and TvSCAN and CABLESCAN changes the way TV stations and cable systems present and promote media choices to buyers across the country," said Mike Jackson For the P. G. Wodehouse character, see . For other people named Mike Jackson, see . General Sir Michael David "Mike" Jackson, GCB, CBE, DSO, DL, (born 21 March 1944) is a British army officer, formerly Chief of the General Staff. , founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of BuyMedia. "TvSCAN and CABLESCAN's strong executive leadership and in-depth knowledge of the TV and cable advertising sales process A sales process is a systematic approach for performing product or service sales. The reasons for having a sales process include seller and buyer risk management, achieving standardized customer interaction in sales and scalable revenue generation. will close the loop on BuyMedia's broadcast expertise, enabling us to deliver unmatched products and services." The TvSCAN and CABLESCAN products are the nation's leading media sales software for TV stations and cable systems. More than 1,000 media companies utilize TvSCAN and CABLESCAN to manage the advertising proposal and sales process. By integrating data sources, ratings research and proposal creation, TvSCAN and CABLESCAN decrease transaction cycle time and enable more aggressive selling. Sales representatives free up time previously spent on data entry and administration and now spend more time on sales and customer relationship management. "BuyMedia is the clear leader in bringing Web efficiency to advertising and we couldn't imagine a better marriage of technology and leadership," said Greg Calhoun, president of the TvSCAN and CABLESCAN divisions of TAPSCAN. "TvSCAN and CABLESCAN are excited about joining BuyMedia to offer an unprecedented level of Web-based innovation to TV stations and cable systems from coast-to-coast." "We view this recent acquisition as another terrific strategic move by BuyMedia as it builds on its first-mover advantage First-mover advantage is the advantage gained by the initial occupant of a market segment. This advantage may stem from the fact that the first entrant can gain control of resources that followers may not be able to match. in this market," says Wendy Harrington, vice president of operations at ICG. "ICG is clearly focused on providing our partner companies with a substantial competitive edge that enables them to more quickly and decisively capture and extend their leadership positions. Our continued support of BuyMedia reflects our excitement about the company, the team and the opportunity." The acquisition of TvSCAN and CABLESCAN strengthens BuyMedia's Web-based marketplace for media buyers and sellers across the broadcast industry. It also allows the completion of the first fully electronic solution for all buyers and sellers of media. (For details, see additional press release, "BuyMedia Flips Switch on Advertising's Only Marketplace to Streamline Both Buyer and Seller Operations," also issued today.) TvSCAN and CABLESCAN, under the BuyMedia corporate name, will maintain offices in Birmingham, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. . and will continue to develop a strong team. About TAPSCAN Headquartered in Birmingham, Ala., TAPSCAN was founded in 1981. More than 1,000 media companies use TvSCAN and CABLESCAN software to speed the sales and proposal process. TvSCAN Omega is the industry standard for ratings research and pre-buy software used for generating advertising proposals. About Internet Capital Group Internet Capital Group (www.internetcapital.com) is an Internet company actively engaged in business-to-business e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. through a network of partner companies. It provides operational assistance, capital support, industry expertise, and a strategic network of business relationships intended to maximize the long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. market potential of more than 70 business-to-business e-commerce companies. Headquartered in Wayne, Pa., Internet Capital Group has offices in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Boston, Seattle, London, Munich, Paris and Tokyo. About BuyMedia BuyMedia is the industry-leading provider of technology solutions for advertising. The company offers the only end-to-end platform that streamlines media buying and selling. BuyMedia leverages the Internet and cutting edge software technology to facilitate the entire sales process -- from a buyer's research and order to a seller's proposal and invoice An itemized statement or written account of goods sent to a purchaser or consignee by a vendor that indicates the quantity and price of each piece of merchandise shipped. A consular invoice is one used in foreign trade. . BuyMedia maintains proven face-to-face negotiation, while eliminating cumbersome cum·ber·some adj. 1. Difficult to handle because of weight or bulk. See Synonyms at heavy. 2. Troublesome or onerous. cum paper-based processes. Based in Burlingame, Calif. and founded in 1995, BuyMedia is backed by Internet Capital Group (Nasdaq:ICGE), Rosewood rosewood, popular name for the ornamental wood of several species of tropical trees, especially for the heartwood of certain leguminous trees of the genus Dalbergia of the family Leguminosae (pulse family). Brazilian rosewood, or jacaranda (D. Venture Group and The Darwin Group. Note to Editors: Product and company names may be registered trademarks, servicemarks or trademarks of their respective owners. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion