CMGI Inc. (NASDAQ: CMGI) has announced an acquisition this morning of a company called Open Channel Solutions, Inc., which is a provider of entitlement and e-business management solutions.
This acquisition was all cash and was listed as a total value of $24.5 million for OCS. CMGI is paying out a net purchase price of $11 million for a minority interest and the repayment of debt that OCS currently holds.
CMGI said that this will be neutral to 2008 earnings and accretive thereafter. In its integration of OCS into ModusLink, the company provides solutions that manage entitlements for software licenses, maintenance & support subscriptions, hardware features and rights-managed content.
Interestingly enough, this company was spun-off of Modus Media International back in 2001. After CMGI acquired Modus Media international in 2004, CMGI took a minority interest in the company and it has been held as an @Ventures investment since.
If you adjust for its reverse stock split, CMGI shares have seen a trading range over the last 52-weeks of $9.66 to $26.00.
Jon C. Ogg
February 20, 2008
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.