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Jeff Morgan / Telic Interactive / F.I.T.E.R. Data

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Jeff Morgan / Telic Interactive / F.I.T.E.R. Data Index

Country: United States
State: CA
ROKSO listing for multiple spam operations founded by Jeff Morgan and/or Kim Reed Perell.

Jeff Morgan / Telic Interactive / F.I.T.E.R. Data SBL Listings History
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OBMedia shareholders Mike Lynn and Jeffrey Morgan

Raja Gupta Sells Stake to Photon Group

Photon Group (ASX:PGA) has significantly strengthened its internet marketing division with the announcement of the acquisition of 51% of OBMedia Inc (Online Business Media).

OBMedia is a performance based internet marketing group. OBMedia provides affiliate marketing services, banner advertising and search traffic management and direction for its clients.

The remaining 49% of OBMedia will remain owned by the existing shareholders, Raja Gupta (W ’95, WG ’07), Mike Lynn and Jeffrey Morgan.

Executive chairman of Photon, Tim Hughes said, “The purchase of 51% of OBMedia further broadens our exposure to the fast growing online marketing sector. Significantly, OBMedia is our first acquisition in the United States and it provides a solid base for cross fertilisation and development with our other online businesses, iMega Group and Returnity. The deal is structured in a way that will match capital payments based on future performance. We have paid an advance against the final purchase price. The founding shareholders will retain 49% and keep a lot of skin in the game.”

Matt Bailey, CEO of Photon said “Raja and the team at OBMedia are first class operators, and are leaders in their field. We are excited to have them join the Photon Group. The opportunity to acquire OBMedia was identified by the executive management team at iMega. We believe the dynamics of marketing are evolving and OBMedia’s skill-set and online intellectual property will help shape the future of online marketing.”

OBMedia CEO Raja Gupta said “Joining Photon Group, and the iMega team, is an exciting step forward for us, and will help provide a strong base for us to grow our business into the future. With the on-going consolidation in the online industry, it’s great to be joining a Group that has a clear vision for the future.”

iMega CEO Ari Klinger said “the addition of OBMedia further enhances our core strengths in on-line media buying, media optimisation and monetisation. There are several strong synergies between iMega’s GlobalP4P business and OBMedia, and we look forward to developing them for mutual gain.”

The acquisition requires the satisfaction of a number of conditions. Subject to those conditions being satisfied, it is anticipated that completion of the acquisition will occur during January 2007.

The initial purchase price comprises the issue of $US, 1,000,000 in Photon shares to be calculated on the ASX Volume Weighted Average price for the month preceding the settlement date, and an upfront cash payment of $US, 6,564,000 to be funded using existing debt facilities. The shares will be restricted by a voluntary escrow for 6 months from the date issue. In addition, deferred consideration tied to the earnings of OBMedia through to 31 December 2009 is payable by Photon.

Over the next 12 months, the acquisition of OBMedia is expected to be positive to Photon’s earnings per share.

Photon is a specialist market services company comprised of five strategic pillars: Business Intelligence, Digital, Interactive & Internet, Sales & Presence Marketing, Mass Communications and Specialised Communication Services.

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