DeSilva+Phillips Client Ripple6, Social Media Tech Company, Sold to Gannett
DeSilva+Phillips, media investment bankers, announces that its client Ripple6, Inc., a leading provider of social media services, has been sold to Gannett Co. Inc. (NYSE: GCI). Ripple6 will become a wholly owned subsidiary of Gannett and will continue to offer its best of breed social media technology and analytics not only to Gannett but also to an array of top tier marketers and Web publishers. DeSilva+Phillips represented Ripple6 in the transaction
New York, NY (PRWEB) November 15, 2008 - DeSilva+Phillips, media investment bankers, announces that its client Ripple6, Inc. a leading provider of social media services, has been sold to Gannett Co. Inc. (NYSE: GCI). Ripple6 will become a wholly owned subsidiary of Gannett and will continue to offer its best of breed social media technology and analytics not only to Gannett but also to an array of top tier marketers and Web publishers. Gannett Co. announced that as part of the transaction, the 10 percent share of Ripple6 owned by Chris Saridakis, senior vice president and chief digital officer of Gannett, was bought out completely by Gannett. Mr. Saridakis did not participate in the sale negotiations.
DeSilva+Phillips represented Ripple6 in the transaction.
Ripple6 currently powers Gannett's MomsLikeMe.com sites, which recently rolled out in 80 local markets across the country and have more than one million moms visiting each month. The company also powers social media properties for Procter & Gamble and the soon to be launched MixingBowl.com, Meredith Corporation's social network around meals and meal planning.
Jay MacDonald, the DeSilva+Phillips partner in charge of the digital media and technology M&A team that managed the transaction, said: "Ripple6 is the first social media company to build a robust technology solution that serves both publishers and advertisers. Gannett, one of Ripple6's many Fortune 1000 clients, clearly saw the value of what Sang Kim and his team have built."
Sang Kim, CEO of Ripple6, told the press "we're excited, because we get the best of both worlds here. We'll take advantage of the synergy and resources of our new parent, yet we'll maintain the independence that helps generate innovative solutions for marketers and publishers."
Craig Dubow, chairman, president and CEO of Gannett, commented: "From the moment we began working with Ripple6, we realized we had found a company that is richly innovative and can change the way social media is offered and monetized online. With the Ripple6 platform, we can help users create communities and connect with their friends and family in highly pleasing ways, while providing marketers with innovative advertising opportunities and measurable results."
About DeSilva+Phillips, media investment bankers
DeSilva+Phillips, media investment bankers, (www.mediabankers.com), specializing in the media and digital media industries, has completed over 200 transactions since 1997. Our Digital Media & Technology Group covers the M&A and corporate finance marketplace for electronic content in its many forms, including web-based publications, social media, specialized search engines, online video, advertising, lead generation, e-commerce, integrated marketing, and business intelligence services. Recent deals include the sale of Answerology to Hearst Corp., SpecialOpsMedia to LBi International AB, Falk AG to DoubleClick, FranchiseGator to aQuantive, TDA Group to CyberMedia (India), Tarot.com to NameMedia and Mediabistro to Jupitermedia. Contact Jay MacDonald (jay@mediabankers.com)for more information.
About Ripple6, Inc.
Ripple6™ helps marketers and publishers implement their business strategy through social media. The company provides an enterprise white label social media platform to create consumer engagements and relationships, enable social marketing, generate consumer insights, and facilitate commerce and collaboration. It is easily customized to incorporate a brand's look and feel for integration into an existing web site or to create an entirely new site. Ripple6 is based in New York and its list of clients and partners includes Procter & Gamble, Gannett Co., Meredith Corporation, and General Mills. For more information, visit www.ripple6.com.
About Gannett
Gannett Co., Inc. is a leading international news and information company that publishes 85 daily newspapers in the USA, including USA TODAY, the nation's largest-selling daily newspaper. The company also owns nearly 900 non-daily publications in the USA and USA WEEKEND, a weekly newspaper magazine. Gannett subsidiary Newsquest is the United Kingdom's second largest regional newspaper company. Newsquest publishes 17 daily paid-for titles, approximately 300 weekly newspapers, magazines and trade publications, and a network of award-winning Web sites. Gannett also operates 23 television stations in the United States and is an Internet leader with sites sponsored by its TV stations and newspapers including USATODAY.com, one of the most popular news sites on the Web.
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