Incisive Media Sells Out

6 comments

Via Joseph Morin, Incisive Media, which bought Search Engine Watch and Search Engine Strategies from JupiterMedia, recently sold out for $375 million to Apex Partners, a private equity investment firm.

Comments

Definately makes

Definately makes undertanding recent events easier.

Good on you Danny!

Or Danny gets what he wants now...

I could see Incisive not willing to make a decent contract while trying to sell and now that the deal is done Apex could make danny the offer he really wants.

Don't know the facts, but

typically, when a private equity firm like Apax Partners takes a previously public company private, the existing management pretty much stays in place. Usually, the top managers get a pretty nice slice of the equity of the private company. The theory is that the company is worth more than the stock market recognizes, and that value can be built better without the distractions and costs of being public. In other words, it's probably the same old same old as far the SES and SEW part of the company goes (and that's a relatively small part of the company).

Not sure how small of a part

Not sure how small of a part of the company SES and SEW are, when you consider that Incisive bought them for over 10% of what they sold the whole company for (43 million out of 375 million), especially when you consider how hot search is.

Fair enough

I would call ten percent small (but not trivial), but it may be that they view it as an especially important and growing part. I certainly wouldn't argue if you have a different term for ten percent.

I read the original post, and understand the deal and implications a bit better now - I was a little slow on the uptake until I had it spelled out for me in detail. Danny might now be better able to get a cut of the equity, because when companies are private they are a bit freer with the stock options, and it's also not so clear a zero-sum deal of giving him an immediate payout at the stockholders' expense for a deal that might have been in the works for while. It probably did make sense for the Incisive team to table it until the Apax deal went down, and they might have been restricted in what they could tell Danny about the Apax deal, given the issues with public companies (which are hard to understand in the US, and maybe even weirder in Britain). The new owners also might be better educated now that some parts of the search franchise, especially the conferences, might be a bit at risk without Danny, and might want to incent him to work hard until they sell the company or take it public. Even failing that, they have more leeway to cut a synthetic ownership deal, where he gets a cut of revenues or profits and maybe some percentage of a future sale, without actually holding stock.

It will make the Danny saga more interesting to watch. I join everyone else in hoping it works out brilliantly for him.

Laugh?

Just shows what a load of bollocks was spouted off here from 'disgusted' of Washington/London/Paris etc etc. That guy does not and never did need support, moral or otherwise from the TW troupe of avengers and vigilantes.

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