Xconomy Boston

CMGI, Inc. Acquires Open Channel Solutions for $24,500,000

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f5716980-a57a-4d6e-b442-f8f9155b00e6&Preview=1
Date
2/20/2008
Company Name
Open Channel Solutions
Mailing Address
Three Allied Drive Dedham, MA 02026
Company Description
OCS provides solutions that manage entitlements for software licenses, maintenance and support subscriptions, hardware features and rights-managed content. OCS’ solutions, including its Poetic™ software product.
Website
http://www.ocs.com/
Transaction Type
M&A
Transaction Amount
$24,500,000
Transaction Round
Proceeds Purposes
M&A Terms
The all cash transaction values OCS at $24.5 million, is subject to customary closing conditions and is expected to close during CMGI’s fiscal third quarter. CMGI will pay a net purchase price of $11.0 million due to a minority interest in OCS and the repayment of debt it currently holds.