Source: Alloy, Inc.
ZelnickMedia Completes Acquisition of Alloy, Inc.
NEW YORK, Nov. 9, 2010 (GLOBE NEWSWIRE) — Alloy, Inc. (Nasdaq:ALOY) (“Alloy”) announced today that an investor group led by ZelnickMedia has completed the previously announced acquisition of Alloy following the approval of the transaction by an overwhelming majority of Alloy shareholders at a special stockholders meeting held yesterday. The purchase price of $9.80 in cash for each share of Alloy common stock represented a transaction value of approximately $126.3 million.
As announced in June 2010, Geraldine Laybourne has been named Chairman of Alloy. Matt Diamond and Jim Johnson, Alloy’s co-founders, will continue to run the Company as CEO and COO, respectively.
“We are pleased to have completed a transaction that delivered significant value for Alloy shareholders. Going forward, the industry expertise of ZelnickMedia and the guiding vision of Gerry Laybourne will help Alloy to realize its potential as a leading entertainment and media brand for the millennial generation,” said Alloy CEO Matt Diamond.
“Alloy is a unique business, with a proven ability to foster hit intellectual properties such as Gossip Girl, The Sisterhood of the Traveling Pants, The Vampire Diaries and Pretty Little Liars, as well as distribution channels that have unparalleled reach into the tween, teen and college-age markets. We look forward to working with the Alloy team to enhance the value of these assets,” noted Strauss Zelnick, co-founder of ZelnickMedia.
Macquarie Capital served as exclusive financial advisor and Kramer Levin Naftalis & Frankel LLP served as legal counsel to Alloy. Simpson Thacher & Bartlett LLP served as legal advisor to ZelnickMedia.
About Alloy
Alloy, Inc. (Nasdaq:ALOY) is one of the country’s largest providers of media and marketing programs reaching targeted consumer segments. Alloy manages a diverse array of assets and services in interactive, display, direct mail, content production and educational programming. Alloy works with over 1,500 companies, including half of the Fortune 200. For further information regarding Alloy, please visit our corporate website at www.alloymarketing.com.
About ZelnickMedia
ZelnickMedia is a partnership of experienced media executives and investors. The firm manages and owns interests in an array of media enterprises, including video games and interactive entertainment, television advertising, wireless network enabling software, business information, tradeshows, and media-related business services. Current portfolio companies include Take-Two Interactive Software, Airvana, Cannella Response Television, ITN Networks, Arkadium and Naylor Inc. The partnership is currently investing from ZM Capital, its media-focused private equity fund.
Take-Two Interactive Software, Inc. (NASDAQ: TTWO) (or Take-Two, also known as Take2) is anAmerican publisher, developer, and distributor of video games and video game peripherals. Take-Two wholly owns 2K Games and Rockstar Games. The company’s headquarters are in New York City, United States, with international headquarters in Windsor, United Kingdom. Development studio locations includeSan Diego, Vancouver, Toronto and Novato, California. Take-Two has developed and published many notable games, including its most famous Grand Theft Auto series, the Midnight Club racing series, controversial games Manhunt and Manhunt 2 and most recently BioShock.
