7th Mar 2007 07:05
NewMedia SPARK PLC07 March 2007 For Immediate Release 07 March 2007 NewMedia SPARK plc announces the sale of Touch Clarity Limited. NewMedia SPARK plc. today announced that Omniture, Inc. (NASDAQ: OMTR), aleading provider of online business optimization software, has completed itsacquisition of privately held Touch Clarity Limited, a leading on-demandprovider of automated behavioral targeting. Under the terms of the definitiveagreement relating to the transaction, Omniture has agreed to pay a totalconsideration of up to $51.5 million (plus approximately $8.5 million in assumedvested stock options), which is comprised of the following: $16.0 million incash at closing; up to $3.0 million in cash payable subject to an earnout basedon certain revenue milestones for FY 2007; and $32.5 million to be paid inOmniture common stock or cash (or some combination of stock and cash), atOmniture's election, by November 30, 2007. SPARK's book value for its stake in Touch Clarity at 30 September 2006 was£320,000 and the expected proceeds from the sale amount to up to £1.9 million. Under the terms of the agreement, SPARK expects to receive approximately$986,000 in cash at closing; up to approximately $2.5 million to be paid inOmniture common stock or cash (or some combination of stock and cash), atOmniture's election, by November 30 (of which up to approximately $673,000 is tobe held in escrow until July 2008), and up to approximately $224,000 in cashpayable subject to an earnout based on certain revenue milestones for FY 2007. Enquiries: For NewMedia SPARKThomas Teichman, Chairman 07007 333 123Kiko Duffy, Investment Director 020 7851 7707 Isabel Podda, Buchanan Communications 020 7466 5000 Notes to Editors: About NewMedia SPARK plcNewMedia SPARK is a quoted venture capital organisation based in central Londonfocused on early stage investments in the technology, media and telecomssectors. SPARK's portfolio has a particular emphasis on digital media, softwareapplications, technology and communications. As an investor, SPARK expects toadd significant value to its investments through active support and strategicdirection. SPARK is listed on London's Alternative Investment Market.www.newmediaspark.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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