I wrote a post about the recent ad network/ad infrastructure deals called 10x revenues several weeks ago.
Since then we've seen AQNT trade to MSFT (this morning) for $6bn which is 10x revenues.
But TFSM only got 3x revenues from WPP.
It's interesting that market leaders like DLCK, Right Media, and AQNT get 10x revenues but second fiddles like TFSM get 3x. That shows the power of market leadership for sure.
aQuantive is a public company (AQNT) and had a market cap of just $2.8 billion as of yesterday. The acquisition price of $6 billion is a roughly 2x premium on yesterday’s closing price, which is a reflection of the fact that this were competing bidders (see notes below). The acquisition comes after recent big acquisitions by Google and Yahoo in this space. Google bought Doubleclick for $3.1 billion in April. Later that same month, Yahoo acquired competitor RightMedia for $680 million. Just yesterday, WPP Group acquired yet another company in this space, 24/7 Real Media, for $649 million.
2006 revenues for aQuantive were $442 million. Net income as about $54 million.
aQuantive’s operating companies include both tools and ad agencies. The company is located in Seattle.
http://www.luxist.com/2007/05/06/objects-of-desire-week-of-5-6-07/
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