Dow Jones purchases alternative investor from Wicks Business Info.Wicks Business Information (Fairfield, CT) has agreed to sell its Alternative Investor Group (AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group ) to Dow Jones & Co. (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ) for $85 million, plus working capital and a potential performance-based payment of $5 million. The deal, subject to regulatory approval, is expected to close by the end of March. Wicks was represented by Jordan, Edmiston Group (New York). The acquired assets include information products and conferences for the venture capital and private equity markets and are a combination of three independent companies, including Asset Alternatives, acquired in September 2000, and the subsequent acquisitions of VentureOne and Venture Reporter. The purchased assets are comprised of: four subscription newsletters, including The Private Equity Analyst, healthcare and technology editions of The Venture Capital Analysts, and The GP Management Report; four directories, including Directory of Corporate Acquirers; eight reports (Private Equity Fund of Funds Fund of Funds A mutual fund that invests in other mutual funds. Notes: For example, an investor would select a general risk profile and the fund-of-funds manager would pick underlying investments from a range of products managed by external managers. Report); two guides; eight conferences (Private Equity Analyst Conference); and five databases (VentureSource). AIG had revenues of $23.1 million and pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become of $9.5 million, and showed a net loss of $5.5 million in 2003. It will be merged with the Technologic Partners business that was purchased by Dow Jones in third quarter 2003 into a new unit of Dow Jones Newsletters, a division of Dow Jones Newswires Dow Jones Newswires is the real-time financial news organization owned by Dow Jones. Founded in 1882, its primary competitors are Bloomberg L.P. and Reuters. The company reports more than 420,000 subscribers -- including brokers, traders, analysts and fund managers -- as of July . Technologic Partners produces eight online newsletters, including the VentureWire series of newsletters, Computer Letter and Semiconductor Innovation Letter, and six annual conferences. Dow Jones said the purchase will "significantly enhance" Dow Jones Newswires coverage of closely-held companies. Wicks Business Information ceo Douglas Manoni said that Wicks "has no intention of selling its remaining assets in the near future. We are looking forward to returning to the marketplace as an aggressive acquirer" in both its current market segments and potential new segments. Remaining Wicks assets include Investment Advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and and Treasury & Risk Management magazines, Briefings Publishing Group, the producer of five newsletters (Communications Briefings), and Georgetown Publishing Group, the producer of six newsletters (American Speaker). |
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