Cox Automotive™ to Invest in Customers and Auto Industry with $4 Billion Acquisition of Dealertrack®

– Strategically combines two industry leaders known for innovation, customer focus and delivering results
– Creates broader suite of open solutions that provide greater value to consumers, dealers, lenders and manufacturers

ATLANTA & LAKE SUCCESS, N.Y.-- Cox Automotive, Inc., a leading provider of digital marketing, wholesale and e-commerce solutions across the automotive industry, and Dealertrack Technologies, Inc. (TRAK), a leader in software solutions and services for automotive retailers, today announced that they have entered into a definitive merger agreement.

Cox Automotive will acquire Dealertrack in an all-cash transaction valued at $4 billion, or $63.25 per share. The acquisition is subject to a minimum tender of at least a majority of the outstanding Dealertrack common shares and customary closing conditions, and is expected to close in the third quarter of 2015. The Dealertrack Board of Directors has unanimously approved the acquisition and recommends that Dealertrack stockholders tender their shares in favor of the transaction.

Published: 15 June 2015
Written by Editor
M & A   Up on News   trading  
Read more: Dealertrack Technologies Inc ( TRAK )

SINA Announces Agreement with CEO for US$456 Million Cash Investment

SHANGHAI, June 1, 2015 - SINA Corporation (SINA) ("SINA" or the "Company"), a leading online media company serving China and the global Chinese communities, today announced that it has entered into a legally binding subscription agreement with Mr. Charles Chao, Chairman of SINA's board of directors and Chief Executive Officer, for the issuance and sale of 11,000,000 newly issued ordinary shares of the Company to Mr. Chao. Pursuant to the agreement, Mr. Chao will subscribe for and purchase directly or through a special purpose vehicle beneficially owned and controlled by him, 11,000,000 newly issued ordinary shares of SINA for a total purchase price of approximately US$456 million in cash. The per share purchase price of US$41.49 represents the average closing trading price of SINA's ordinary shares for the 30 trading days ended May 29, 2015 and is higher than the closing trading price on May 29, 2015, the last trading day before the signing of the subscription agreement. Mr. Chao has agreed to subject all the shares he or his affiliate will acquire in the transaction to a contractual lock-up restriction for six months after the closing. The closing is expected to take place upon satisfaction of customary closing conditions.

Published: 01 June 2015
Written by Editor
Nasdaq   Financing  
Read more: SINA Corporation ( SINA )

Ctrip Acquires Strategic Stake in eLong

SHANGHAI, May 22, 2015 - Ctrip.com International, Ltd. (CTRP), a leading travel service provider of accommodation reservation, transportation ticketing, packaged tours and corporate travel management in China ("Ctrip" or the "Company") today announced its investment in eLong, Inc. (LONG) ("eLong") through acquiring eLong shares from certain selling shareholders, including Expedia, Inc. (EXPE) ("Expedia"), together with several other investors.  Ctrip acquired a 37.6% equity stake in eLong for a total purchase price of approximately $400 million. 

Published: 22 May 2015
Written by Editor
Nasdaq   Up on News  
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Momo Announces Unaudited Financial Results for the First Quarter 2015

BEIJING, May 18, 2015 -- Momo Inc. (MOMO) ("Momo" or the "Company"), a leading mobile social networking platform in China, today announced its unaudited financial results for the first quarter, 2015.

First Quarter 2015 Highlights

  • Net revenues increased 383% year over year to $26.3 million, exceeding the Company's guidance between $24 million and $26 million.
  • Net income attributable to Momo Inc. was $6.7 million, compared to a net loss of $1.2 million for the same period last year.
  • Non-GAAP net income attributable to Momo Inc. (note 1) was $9.4 million compared to a non-GAAP net loss of $0.3 million for the same period last year.
    Published: 19 May 2015
    Written by Editor
    Nasdaq   Financial Results   Up on News  
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zulily Launches New Responsive Daily Shopping Interface Designed to Provide a Seamless Customer Experience Across Platforms

First-Ever Redesign Delivers Enhanced Customization and Usability

SEATTLE, May 6, 2015 - zulily (ZU), a retailer that offers thousands of new and unique products daily, today announced the launch of its first major website redesign, which will provide a more customized daily shopping experience for each of its customers.

"We are changing the way people shop by allowing customers to easily discover unique and special products every day," said Darrell Cavens, CEO of zulily. "This year, we are focused on innovating and improving every aspect of our daily experience to keep our customer engaged and excited every time she visits. The site redesign is the first of several initiatives for the year that will allow us to continue to surprise and delight our customer each and every day."

Published: 11 May 2015
Written by Editor
Nasdaq   Up on News   Project Update  
Read more: zulily ( ZU )
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