Apollo Group, Inc. to Acquire Online Advertising Network Aptimus, Inc.
08 August 2007 - 1:00PM
Business Wire
Apollo Group, Inc. (Nasdaq:APOL), the nation�s leading provider of
both online and on-campus education, today announced it will
acquire online advertising network Aptimus, Inc. (Nasdaq:APTM) for
$6.25 per share in an all-cash transaction valued at approximately
$48 million. The acquisition serves to advance Apollo�s continuing
efforts to enhance the efficacy of its online advertising
investments in support of its mission to increase awareness of and
access to quality education services. �This acquisition is another
step to strategically position the company to best monitor, manage
and control our marketing investments and brand,� said Brian
Mueller, president of Apollo Group. �Integrating Aptimus�
technology and very experienced team into our current marketing
initiatives and service center model will take us to the next level
in managing student inquiries and achieving further process and
cost efficiencies in new-student enrollments.� �This is consistent
with our commitment to redeploy capital to create long term value
for our shareholders,� said Greg Cappelli, executive vice
president, global strategy. �The acquisition should close in early
fiscal 2008 and we expect it to be value accretive.� Aptimus CEO
Rob Wrubel said about the deal, �This is a significant opportunity
to deliver our business vision to one of the most important
education companies in the market, improving their ability to reach
new students.� Aptimus will continue to provide its services to
Internet publishers and advertising customers in other industries.
Similarly, Apollo will continue to work with AOL, its subsidiary
Advertising.com, as well as with other digital media affiliates and
publishers. While the exclusive management contract with
Advertising.com expires over the next several months, Apollo
believes that the significant investments it has made in personnel
and technology, as well as the acquisition of Aptimus, will enable
the Company to efficiently and effectively manage Internet
marketing internally, without any disruption. The closing of the
acquisition is subject to customary closing conditions, including
Aptimus shareholder approval. Savvian Advisors, LLC acted as
financial advisor and Morgan, Lewis & Bockius LLP acted as
legal counsel to Apollo Group. About Apollo Group, Inc. Apollo
Group, Inc. has been an education provider for more than 30 years,
operating the University of Phoenix, the Institute for Professional
Development, the College for Financial Planning, Western
International University and Insight Schools. The Company offers
innovative and distinctive educational programs and services from
high school through college level at 260 locations in 40 states,
Puerto Rico, Alberta, British Columbia, the Netherlands, and
Mexico, as well as online, throughout the world. About Aptimus,
Inc. Aptimus� advanced Internet advertising and optimization
platform drives improved levels of consumer engagement across all
digital media channels resulting in more relevant and educational
experiences for consumers and more effective campaigns for
advertisers. The Aptimus Network is made up of unique and targeted
channels, each supported by category-leading Web sites. The
platform of six channels focuses on Education/Career & Self
Improvement, Gaming, Technology/Early Adopters, IM/Communications,
Community, and Interactive Entertainment. Aptimus has offices in
San Francisco and Seattle, and is publicly traded on the NASDAQ CM
under the symbol APTM. More information on Aptimus is available at
the company�s website at http://www.aptimus.com. For more
information about Apollo Group, Inc. and its subsidiaries, call
(800) 990-APOL or visit Apollo on the company website at:
www.apollogrp.edu. Additional Information Aptimus intends to file
with the Securities and Exchange Commission preliminary and
definitive proxy statements and other relevant materials in
connection with the acquisition. The proxy statement will be mailed
to the shareholders of Aptimus. Before making any voting or
investment decision with respect to the acquisition, investors and
shareholders of Aptimus are urged to read the proxy statement and
the other relevant materials when they become available because
they will contain important information about the acquisition,
Aptimus and Apollo Group. Investors and security holders may obtain
free copies of these documents (when they are available) and other
documents filed with the Securities and Exchange Commission (the
�SEC�) at the SEC�s Web site at www.sec.gov. Aptimus and its
officers and directors may be deemed to be participants in the
solicitation of proxies from Aptimus� shareholders with respect to
the acquisition. A description of any interests that these officers
and directors have in the acquisition will be available in the
proxy statement. Information concerning Aptimus� directors and
executive officers is set forth in Aptimus� proxy statement for its
2007 annual meeting of shareholders, which was filed with the SEC
on May 18, 2007. In addition, Apollo Group may be deemed to have
participated in the solicitation of proxies from Aptimus�
shareholders in favor of the approval of the acquisition.
Information concerning Apollo Group�s directors and executive
officers is set forth in Apollo Group�s Annual Report on Form 10-K
for fiscal year ended August 31, 2006. These documents are
available free of charge at the SEC�s web site at www.sec.gov or
with respect to Apollo Group, by going to Apollo Group�s Investor
Relations page on its corporate Web site at www.apollogrp.edu.
Special Note Regarding Forward-Looking Statements This News Release
contains certain forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, as amended, including but not
limited to the anticipated completion of the proposed acquisition,
the anticipated timing of such completion and the anticipated
benefits of the proposed acquisition. All statements other than
statements of historical fact may be forward-looking statements.
Such forward-looking statements include, among others, those
statements regarding future events and future results of Apollo
Group, Inc. (�the Company,� �Apollo Group,� �Apollo,� �APOL,� �we,�
�us� or �our�) that are based on current expectations, estimates,
forecasts, and the beliefs and assumptions of us and our
management, and speak only as of the date made and are not
guarantees of future performance. The words �believes,� �expects,�
�anticipates,� �estimates,� �plans,� �objectives,� and other
similar statements of expectation identify forward-looking
statements. Forward-looking statements are inherently uncertain and
subject to risks. Such statements should be viewed with caution.
The Company undertakes no obligation to publicly update or revise
any forward-looking statements, or any facts, events, or
circumstances after the date hereof that may bear upon
forward-looking statements.
Alpha Partners Technolog... (NASDAQ:APTM)
Historical Stock Chart
Von Aug 2024 bis Sep 2024
Alpha Partners Technolog... (NASDAQ:APTM)
Historical Stock Chart
Von Sep 2023 bis Sep 2024