ICG Announces Completion of Sale of LinkShare Corporation to Rakuten, Inc.WAYNE, Pa. -- Internet Capital Group, Inc. (Nasdaq:ICGE), today announced that the acquisition of its partner company, LinkShare Corporation, by Rakuten, Inc. (JASDAQ Jasdaq See: Japanese Association of Securities Dealers Automated Quotation System :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 ICG indocyanine green. 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 Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). 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 See SaaS. 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 American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. , Avon Products and Dell. LinkShare was founded in 1996 and is headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , with offices in San Francisco, Denver, and Chicago. LinkShare's investors include Mitsui & Co., Ltd. (NASDAQ:MITSY), Mitsui & Co. (U.S.A), Inc., Internet Capital Group (NASDAQ:ICGE), and Comcast Interactive Capital, an affiliate of Comcast Corporation (NASDAQ:CMCSK; CMCSA). Please visit http://www.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 (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business 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 Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. as of September 5, 2005 of $9.7 billion. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 The statements contained in this press release that are not historical facts are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future performance of our partner companies, acquisitions or dispositions of interests in partner companies, the effect of economic conditions generally, capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. by customers and development of the e-commerce and information technology markets, and uncertainties detailed in the Company's filings with the Securities and Exchange Commission. These and other factors may cause actual results to differ materially from those projected. |
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