Cgi (AMEX:THK)
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From Jun 2019 to Jun 2024
Kowabunga!® (AMEX:THK), the leading provider
of interactive performance-based advertising networks and technology
platforms, announced today that it has engaged McFarland Dewey & Co.,
LLC as its financial advisor to assist in the divestiture of certain
non-core business units.
The Company intends to focus its efforts on its Network and other
interactive businesses which have potential for enhanced growth. The
business units that are no longer considered critical to its long term
strategy and identified for divestiture are: (1) Cherish Inc., which
provides online personals services; (2) MarketSmart Advertising Inc.,
which provides traditional offline advertising services; and (3) iLead
Media, LLC, which provides online lead generation and digital marketing
services. Proceeds from the sales will be used to reduce indebtedness
and to fund the expected continued growth of the Network segment.
The Company also announced that it expects to complete the sale of The
Catamount Group, its full-service direct response agency located in
Bethel, Conn. within the next ten days. Catamount formerly operated
within the Company’s Direct segment.
“The recent growth in our Network segment over
the past few quarters has provided us with the flexibility to move more
aggressively to divest certain non-core assets,”
said Stan Antonuk, CEO of Kowabunga!. “McFarland
Dewey’s recent experience in selling similar
businesses was instrumental in our decision to choose them as our
financial advisors. We are confident they will provide valuable
assistance in accelerating the process of finding the right buyer and
optimizing the value of these businesses.”
“We anticipate that these planned divestitures
will allow us to better focus on the growth opportunities in our Network
and other interactive businesses,” Antonuk
went on to say. “Our ValidClick™
legacy search network continues to exceed our earlier growth
expectations and our newer ValidClick AdExchange™
is drawing increasing interest as the only truly open pay-per-click
marketplace. Through effective leveraging of our FeedPatrol™
click fraud technology in combination with Fair Isaac’s®
Click Conversion Score™, we believe that the
ValidClick AdExchange provides the only objective, data-driven method in
the industry for fairly compensating publishers by evaluating the
relative conversion value of a click. Correspondingly, advertisers are
able to effectively extend their reach while achieving a more consistent
ROI on their marketing expenditures. In June, we upgraded the platform’s
performance and scalability to allow enhanced efficiency. On the CPA
side, the upgrade to our merchant affiliate platform, MyAP™,
as well as the planned simultaneous launch of our own affiliate network
platform, KB Network, continues and will be made available to both new
and existing merchants and affiliates by this fall. We believe MyAP’s
new features and functionality will help us be very competitive and will
lead us to market share gains in the CPA affiliate marketing space over
the long term.”
About Kowabunga! Inc.
Think Partnership Inc. is now doing business under the name "Kowabunga!
Inc." and will seek formal shareholder approval to change its legal name
to Kowabunga! Inc. later in 2008. Kowabunga Marketing Inc. will continue
as a subsidiary, operating its affiliate network and related products.
Kowabunga! Inc. is the leading provider of interactive performance-based
advertising networks and technology platforms. Kowabunga! provides a
comprehensive and integrated set of scalable and cost-effective
marketing solutions for both advertisers and publishers. These solutions
increase customer retention and revenues through a diverse set of
related marketing channels, including affiliate marketing,
click-fraud-protected pay-per-click advertising, lead generation,
interactive direct marketing, integrated offline advertising, campaign
management, public relations, and branding. Kowabunga! also operates
several direct-to-consumer services including online dating, online
education, and home business opportunities. High-profile brands include
ValidClick AdExchange™, MyAP™,
PrimaryAds™, BabyToBee™,
Second Bite® and MSA. For more information,
visit www.kowabunga.com.
About McFarland Dewey & Co., LLC
McFarland Dewey & Co., LLC is a partners-owned investment bank
providing, since 1989, financial advice to middle market companies and
their shareholders. McFD bankers bring decades of experience advising on
complex transactions which require specific industry knowledge and
seasoned judgment of the financial world. The firm has extensive
expertise in advising on mergers and acquisitions, corporate
restructurings and privately raising debt and equity. Their offices are
located in New York and Cleveland. For more information, visit www.mcfarlanddewey.com.
Forward-Looking Statements
Statements made in this press release that express the company’s
or management’s intentions, plans, beliefs,
expectations or predictions of future events, are forward-looking
statements. Those statements are based on many assumptions and are
subject to many known and unknown risks, uncertainties and other factors
that could cause the company’s actual
activities, results or performance to differ materially from those
anticipated or projected in such forward-looking statements. For a
discussion of these risks, see the company’s
report, as filed with the Securities and Exchange Commission on Form
10-K, filed March 31, 2008, under the section headed “Risk
Factors.” The company cannot guarantee future
financial results, levels of activity, performance or achievements, and
investors should not place undue reliance on the company’s
forward-looking statements.