*
Terms:
$13.5 million stock incentives/$2.2 million cash
*
Premium: n/a
*
Industry: Performance
Software
*
Scorecard: C+
SAN DIEGO, May 24–Lightspan, a provider
of curriculum-based, educational software and Internet products and
services for school and home, announced that it has entered into an
agreement to acquire Edutest, a provider of Internet-based
educational testing and assessment products. The acquisition is expected to
add valuable products to Lightspan’s
line of Internet-based solutions for the K-12 market.
Under the terms of the agreement, shareholders of Edutest will receive a combination of
cash and shares of Lightspan with a value of up to $15.7 million. The
aggregate value to be received by Edutest shareholders at closing will be
approximately $2.2 million in cash and $9.0 million in stock, with a
potential for up to an additional $4.5 in stock over the subsequent 18
months.
REDWOOD CITY, May 24–Niku Corporation, a
provider of Internet solutions for the sourcing, management and delivery
of professional services, announced it is acquiring three companies: ABT
Corporation, bSource, and 600 Monkeys. The total
consideration for these three acquisitions will be approximately 4.57
million shares of Niku common stock and
approximately $13 million in cash payments to shareholders.
ABT is the recognized leader in
enterprise project management solutions for information technology
organizations, bSource is a virtual
marketplace for services such as web development, law and public relations,
and 600 Monkeys
provides innovative Internet solutions for advertising and public relations
agencies.
Sonic Foundry (SOFO) acquires International Image
Services
*
Amount: $24
million
*
Terms:
cash and stock
*
Premium: n/a
*
Industry: Performance
Software
*
Scorecard: B
MADISON, Wis., May 24–Sonic Foundry, a
leading developer and marketer of Internet software tools, services, and
systems, and privately held International Image Services, one of
North America’s premier facilitators for managing and digitizing media for
the entertainment industry, announced that they have entered into a letter
of intent for Sonic
Foundry to acquire International Image
in a combined cash, debt, and stock transaction valued at $24 million. The
combination of Sonic Foundry and International Image will offer the world’s
media marketplace a single source for digitizing and managing their media
assets particularly high bandwidth high definition content, while providing
auto formatting of the same media for a wide variety of compressed and
encoded formats.
iShopper.com (IHPR) acquires
TotaliNet.net
*
Amount:
Undisclosed
*
Terms:
n/a
*
Premium: n/a
*
Industry: E-commerce
enablers
*
Scorecard: C
SANDY, Utah, May 24–iShopper.com, an
Internet and technology holding company, announced it has acquired TotaliNet.net, a complete Internet solutions provider. TotaliNet.net offers full-service
online marketing solutions, including Web site design, Web hosting services
and marketing tools to help small- and medium-sized companies establish an
interactive Web site. iShopper.com
plans to utilize the TotaliNet.net brand to market its e-commerce services
and products.
EBIZ Enterprises (EBIZ) to merge with
LinuxMall.com
*
Amount:
Undisclosed
*
Terms:
100% stock
*
Premium: n/a
*
Industry: E-tailers
*
Scorecard: C
SCOTTSDALE, Ariz., May 24–EBIZ Enterprises announced it has executed a letter of intent to merge with LinuxMall.com in a stock-for-stock agreement. The merger of TheLinuxStore.com,
a division of EBIZ Enterprise
s, and LinuxMall.com will position the
combined entity as the largest “vendor-neutral” Internet Linux shopping
mall and destination site in the world.
Advanced Wireless (AWSS) acquires Digital
Wireless Systems
*
Amount:
Undisclosed
*
Terms:
n/a
*
Premium: n/a
*
Industry:
Speed/Bandwidth
*
Scorecard: D
IRVING, Tex., May 24–Advanced Wireless Systems announced the confirmation of the Plan of reorganization of Digital Wireless Systems, which occurred Tuesday in the Federal
Bankruptcy Court, Middle District of Tennessee. Under the Plan, Advanced Wireless, as the Successor to
the Debtor, will acquire all assets of Digital Wireless in exchange for
Advanced Wireless common stock and stock purchase warrants, which will be
distributed to Digital Wireless’ creditors and equity security holders. The
Digital Wireless acquisition will increase Advanced Wireless’ Broadband
wireless holdings by over 700% and will triple its monthly gross revenues.
