DRIV » Topics » Acquisitions completed in 2006

These excerpts taken from the DRIV 10-K filed Mar 9, 2009.
Acquisitions completed in 2006
 
In June 2006, we acquired all of the capital stock of MindVision, Inc., a privately held e-commerce company based in Lincoln, Nebraska, for approximately $25.0 million comprised of payments to stockholders of $21.2 million plus the assumption of certain liabilities totaling approximately $3.7 million. In November 2006, we recorded $0.2 million as acquisition cost related to a restructuring plan for employee severance to be paid out over a six month period.
 
In January 2006, we acquired all of the capital stock of Direct Response Technologies, Inc. (Direct Response), a privately held company based in Pittsburgh, Pennsylvania, for approximately $15.0 million in cash. Direct Response, a provider of tools for managing affiliate networks, is now named DR Marketing Solutions, Inc. The agreement also provided Direct Response shareholders with an earn-out opportunity based on DR Marketing Solutions, Inc. achieving certain revenue and earnings targets during the first three years subsequent to the acquisition. In 2006, we accrued $3.5 million for future earn-out payments. In 2007, pursuant to the January 2006 acquisition agreement, certain adjustments were made to the earn-out obligations under this agreement. Under the restructured earn-out agreement a final earn-out of $3.5 million was accrued and paid in 2007. These earn-outs have been recorded as goodwill in 2006 and 2007 as they were considered incremental to the purchase price.
 
Acquisitions completed in 2006
 
In June 2006, we acquired all of the capital stock of MindVision, Inc., a privately held e-commerce company based in Lincoln, Nebraska, for approximately $25.0 million comprised of payments to stockholders of $21.2 million plus the assumption of certain liabilities totaling approximately $3.7 million. In November 2006, we recorded $0.2 million as acquisition cost related to a restructuring plan for employee severance to be paid out over a six month period.
 
In January 2006, we acquired all of the capital stock of Direct Response Technologies, Inc. (Direct Response), a privately held company based in Pittsburgh, Pennsylvania, for approximately $15.0 million in cash. Direct Response, a provider of tools for managing affiliate networks, is now named DR Marketing Solutions, Inc. The agreement also provided Direct Response shareholders with an earn-out opportunity based on DR Marketing Solutions, Inc. achieving certain revenue and earnings targets during the first three years subsequent to the acquisition. In 2006, we accrued $3.5 million for future earn-out payments. In 2007, pursuant to the January 2006 acquisition agreement, certain adjustments were made to the earn-out obligations under this agreement. Under the restructured earn-out agreement a final earn-out of $3.5 million was accrued and paid in 2007. These earn-outs have been recorded as goodwill in 2006 and 2007 as they were considered incremental to the purchase price.
 
Acquisitions
completed in 2006



 



In June 2006, we acquired all of the capital stock of
MindVision, Inc., a privately held
e-commerce
company based in Lincoln, Nebraska, for approximately
$25.0 million comprised of payments to stockholders of
$21.2 million plus the assumption of certain liabilities
totaling approximately $3.7 million. In November 2006,
we recorded $0.2 million as acquisition cost related to a
restructuring plan for employee severance to be paid out over a
six month period.


 



In January 2006, we acquired all of the capital stock of Direct
Response Technologies, Inc. (Direct Response), a privately held
company based in Pittsburgh, Pennsylvania, for approximately
$15.0 million in cash. Direct Response, a provider of tools
for managing affiliate networks, is now named DR Marketing
Solutions, Inc. The agreement also provided Direct Response
shareholders with an earn-out opportunity based on DR Marketing
Solutions, Inc. achieving certain revenue and earnings targets
during the first three years subsequent to the acquisition. In
2006, we accrued $3.5 million for future earn-out payments.
In 2007, pursuant to the January 2006 acquisition agreement,
certain adjustments were made to the earn-out obligations under
this agreement. Under the restructured earn-out agreement a
final earn-out of $3.5 million was accrued and paid in
2007. These earn-outs have been recorded as goodwill in 2006 and
2007 as they were considered incremental to the purchase price.


 




Acquisitions
completed in 2006



 



In June 2006, we acquired all of the capital stock of
MindVision, Inc., a privately held
e-commerce
company based in Lincoln, Nebraska, for approximately
$25.0 million comprised of payments to stockholders of
$21.2 million plus the assumption of certain liabilities
totaling approximately $3.7 million. In November 2006,
we recorded $0.2 million as acquisition cost related to a
restructuring plan for employee severance to be paid out over a
six month period.


 



In January 2006, we acquired all of the capital stock of Direct
Response Technologies, Inc. (Direct Response), a privately held
company based in Pittsburgh, Pennsylvania, for approximately
$15.0 million in cash. Direct Response, a provider of tools
for managing affiliate networks, is now named DR Marketing
Solutions, Inc. The agreement also provided Direct Response
shareholders with an earn-out opportunity based on DR Marketing
Solutions, Inc. achieving certain revenue and earnings targets
during the first three years subsequent to the acquisition. In
2006, we accrued $3.5 million for future earn-out payments.
In 2007, pursuant to the January 2006 acquisition agreement,
certain adjustments were made to the earn-out obligations under
this agreement. Under the restructured earn-out agreement a
final earn-out of $3.5 million was accrued and paid in
2007. These earn-outs have been recorded as goodwill in 2006 and
2007 as they were considered incremental to the purchase price.


 




These excerpts taken from the DRIV 10-K filed Feb 19, 2009.
Acquisitions completed in 2006
 
In June 2006, we acquired all of the capital stock of MindVision, Inc., a privately held e-commerce company based in Lincoln, Nebraska, for approximately $25.0 million comprised of payments to stockholders of $21.2 million plus the assumption of certain liabilities totaling approximately $3.7 million. In November 2006, we recorded $0.2 million as acquisition cost related to a restructuring plan for employee severance to be paid out over a six month period.
 
In January 2006, we acquired all of the capital stock of Direct Response Technologies, Inc. (Direct Response), a privately held company based in Pittsburgh, Pennsylvania, for approximately $15.0 million in cash. Direct Response, a provider of tools for managing affiliate networks, is now named DR Marketing Solutions, Inc. The agreement also provided Direct Response shareholders with an earn-out opportunity based on DR Marketing Solutions, Inc. achieving certain revenue and earnings targets during the first three years subsequent to the acquisition. In 2006, we accrued $3.5 million for future earn-out payments. In 2007, pursuant to the January 2006 acquisition agreement, certain adjustments were made to the earn-out obligations under this agreement. Under the restructured earn-out agreement a final earn-out of $3.5 million was accrued and paid in 2007. These earn-outs have been recorded as goodwill in 2006 and 2007 as they were considered incremental to the purchase price.
 
Acquisitions completed in 2006
 
In June 2006, we acquired all of the capital stock of MindVision, Inc., a privately held e-commerce company based in Lincoln, Nebraska, for approximately $25.0 million comprised of payments to stockholders of $21.2 million plus the assumption of certain liabilities totaling approximately $3.7 million. In November 2006, we recorded $0.2 million as acquisition cost related to a restructuring plan for employee severance to be paid out over a six month period.
 
In January 2006, we acquired all of the capital stock of Direct Response Technologies, Inc. (Direct Response), a privately held company based in Pittsburgh, Pennsylvania, for approximately $15.0 million in cash. Direct Response, a provider of tools for managing affiliate networks, is now named DR Marketing Solutions, Inc. The agreement also provided Direct Response shareholders with an earn-out opportunity based on DR Marketing Solutions, Inc. achieving certain revenue and earnings targets during the first three years subsequent to the acquisition. In 2006, we accrued $3.5 million for future earn-out payments. In 2007, pursuant to the January 2006 acquisition agreement, certain adjustments were made to the earn-out obligations under this agreement. Under the restructured earn-out agreement a final earn-out of $3.5 million was accrued and paid in 2007. These earn-outs have been recorded as goodwill in 2006 and 2007 as they were considered incremental to the purchase price.
 
Acquisitions
completed in 2006



 



In June 2006, we acquired all of the capital stock of
MindVision, Inc., a privately held
e-commerce
company based in Lincoln, Nebraska, for approximately
$25.0 million comprised of payments to stockholders of
$21.2 million plus the assumption of certain liabilities
totaling approximately $3.7 million. In November 2006, we
recorded $0.2 million as acquisition cost related to a
restructuring plan for employee severance to be paid out over a
six month period.


 



In January 2006, we acquired all of the capital stock of Direct
Response Technologies, Inc. (Direct Response), a privately held
company based in Pittsburgh, Pennsylvania, for approximately
$15.0 million in cash. Direct Response, a provider of tools
for managing affiliate networks, is now named DR Marketing
Solutions, Inc. The agreement also provided Direct Response
shareholders with an earn-out opportunity based on DR Marketing
Solutions, Inc. achieving certain revenue and earnings targets
during the first three years subsequent to the acquisition. In
2006, we accrued $3.5 million for future earn-out payments.
In 2007, pursuant to the January 2006 acquisition agreement,
certain adjustments were made to the earn-out obligations under
this agreement. Under the restructured earn-out agreement a
final earn-out of $3.5 million was accrued and paid in
2007. These earn-outs have been recorded as goodwill in 2006 and
2007 as they were considered incremental to the purchase price.


 




Acquisitions
completed in 2006



 



In June 2006, we acquired all of the capital stock of
MindVision, Inc., a privately held
e-commerce
company based in Lincoln, Nebraska, for approximately
$25.0 million comprised of payments to stockholders of
$21.2 million plus the assumption of certain liabilities
totaling approximately $3.7 million. In November 2006, we
recorded $0.2 million as acquisition cost related to a
restructuring plan for employee severance to be paid out over a
six month period.


 



In January 2006, we acquired all of the capital stock of Direct
Response Technologies, Inc. (Direct Response), a privately held
company based in Pittsburgh, Pennsylvania, for approximately
$15.0 million in cash. Direct Response, a provider of tools
for managing affiliate networks, is now named DR Marketing
Solutions, Inc. The agreement also provided Direct Response
shareholders with an earn-out opportunity based on DR Marketing
Solutions, Inc. achieving certain revenue and earnings targets
during the first three years subsequent to the acquisition. In
2006, we accrued $3.5 million for future earn-out payments.
In 2007, pursuant to the January 2006 acquisition agreement,
certain adjustments were made to the earn-out obligations under
this agreement. Under the restructured earn-out agreement a
final earn-out of $3.5 million was accrued and paid in
2007. These earn-outs have been recorded as goodwill in 2006 and
2007 as they were considered incremental to the purchase price.


 




These excerpts taken from the DRIV 10-K filed Feb 29, 2008.
Acquisitions completed in 2006
 
In June 2006, we acquired all of the capital stock of MindVision, Inc., a privately held e-commerce company based in Lincoln, Nebraska, for approximately $25.0 million comprised of payments to stockholders of $21.2 million plus the assumption of certain liabilities totaling approximately $3.7 million. In November 2006, we recorded $0.2 million as acquisition cost related to a restructuring plan for employee severance to be paid out over a six month period.
 
In January 2006, we acquired all of the capital stock of Direct Response Technologies, Inc. (Direct Response), a privately held company based in Pittsburgh, Pennsylvania, for approximately $15.0 million in cash. Direct Response, a provider of tools for managing affiliate networks, is now named DR Marketing Solutions, Inc. The agreement also provided Direct Response shareholders with an earn-out opportunity based on DR Marketing Solutions, Inc. achieving certain revenue and earnings targets during the first three years


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Table of Contents

 
DIGITAL RIVER, INC.
 
Notes to Consolidated Financial Statements — (Continued)
 
subsequent to the acquisition. In 2006, we accrued $3.5 million for future earn-out payments. In 2007, pursuant to the January 2006 acquisition agreement, certain adjustments were made to the earn-out obligations under this agreement. Under the restructured earn-out agreement a final earn-out of $3.5 million was accrued and paid in 2007. These earn-outs have been recorded as goodwill in 2006 and 2007 as they were considered incremental to the purchase price.
 
Acquisitions
completed in 2006



 



In June 2006, we acquired all of the capital stock of
MindVision, Inc., a privately held
e-commerce
company based in Lincoln, Nebraska, for approximately
$25.0 million comprised of payments to stockholders of
$21.2 million plus the assumption of certain liabilities
totaling approximately $3.7 million. In November 2006, we
recorded $0.2 million as acquisition cost related to a
restructuring plan for employee severance to be paid out over a
six month period.


 



In January 2006, we acquired all of the capital stock of Direct
Response Technologies, Inc. (Direct Response), a privately held
company based in Pittsburgh, Pennsylvania, for approximately
$15.0 million in cash. Direct Response, a provider of tools
for managing affiliate networks, is now named DR Marketing
Solutions, Inc. The agreement also provided Direct Response
shareholders with an earn-out opportunity based on DR Marketing
Solutions, Inc. achieving certain revenue and earnings targets
during the first three years





63





Table of Contents





 




DIGITAL
RIVER, INC.




 




Notes to
Consolidated Financial
Statements — (Continued)


 



subsequent to the acquisition. In 2006, we accrued
$3.5 million for future earn-out payments. In 2007,
pursuant to the January 2006 acquisition agreement, certain
adjustments were made to the earn-out obligations under this
agreement. Under the restructured earn-out agreement a final
earn-out of $3.5 million was accrued and paid in 2007.
These earn-outs have been recorded as goodwill in 2006 and 2007
as they were considered incremental to the purchase price.


 




This excerpt taken from the DRIV 10-K filed Mar 1, 2007.
Acquisitions completed in 2006
 
In June 2006, we acquired all of the capital stock of MindVision, Inc., a privately held e-commerce company based in Lincoln, Nebraska, for approximately $25.0 million comprised of payments to stockholders of $21.2 million plus the assumption of certain liabilities totaling approximately $3.7 million. In November 2006, we recorded $0.2 million as acquisition cost related to a restructuring plan for employee severance to be paid out over a six month period.
 
In January 2006, we acquired all of the capital stock of Direct Response Technologies, Inc. (Direct Response), a privately held company based in Pittsburgh, Pennsylvania, for approximately $15.0 million in cash. Direct Response, a provider of tools for managing affiliate networks, is now named DR Marketing Solutions, Inc. The agreement also provides Direct Response shareholders with an earn-out opportunity based on DR Marketing Solutions, Inc. achieving certain revenue and earnings targets during the first three years subsequent to the acquisition. In 2006, we accrued $3.5 million for future earn-out payments. Earn-outs were recorded as goodwill in 2006 as they were considered incremental to the purchase price.
 
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