Kursverdoppelung bei Actua Corporation (vorm. Internet Capital)

http://thexs2solutions.nl/imagebank/File/...OURCING-CHINA-English.pdf

Internet Capital hält 31% von Freeborders, die 2010 zwischen 30 und 35 Millionen umsetzen dürften. Sie sind zwar in den letzten fünf Jahren stark gewachsen, aber nicht so stark wie einige Konkurrenten, weil sie nur in den USA Übernahmen durchführten (Unternehmensberatungen), während sie in China nur auf organisches Wachstum setzten. Ob das richtig war, ist die Frage, denn die größten mit Freeborders gleichzeitig ins Rennen gegangenen Unternehmen kratzen momentan schon an der Milliarde Börsenbewertung, während der momentane Wert von Freeborders erst bei einem Viertel davon liegen dürfte.  

http://messages.finance.yahoo.com/...64259&tof=1&frt=2#264259  

im Angebot.

ROUNDUP: IBM übernimmt Sterling Commerce von AT&T für 1,4 Mrd USD
14:37 24.05.10

ARMONK (dpa-AFX) - Der amerikanische IT-Konzern IBM (Profil) kauft AT&T (Profil) für 1,4 Milliarden Dollar in bar das Software-Unternehmen Sterling Commerce ab. Das in Dublin (Bundesstaat Ohio) beheimatete Unternehmen mit mehr als 18.000 Kunden weltweit in den Branchen Finanzen, Einzelhandel, Industrie und Kommunikation ist auf den Datenaustausch zwischen Firmen spezialisiert. Die Transaktion soll in der zweiten Hälfte dieses Jahres abgeschlossen werden, wie IBM am Montag in Armonk (Bundesstaat New York) mitteilte. Sie beschert AT&T einen Sondergewinn in Höhe von etwa 750 Millionen Dollar. Mit der Übernahme kommen rund 2.500 Sterling-Mitarbeiter zu IBM.

Den Aktien beider Unternehmen halfen die Nachrichten nicht. Sowohl die IBM-Papiere als auch die Titel von AT&T gaben im vorbörslichen US-Handel leicht nach. Die US-Börsen werden am Montag ebenfalls im Minus erwartet. IBM rechnet wegen der Zunahme des elektronischen Handels einen stark steigenden Bedarf an Austausch zwischen Unternehmen von Bankentransaktionen, über die Beschaffung von Rohstoffen bis hin zu Überwachung der Produktions- und Lieferkette des verarbeitenden Gewerbes.

Der IT-Konzern plant in den nächsten fünf Jahren Firmenübernahmen für rund 20 Milliarden Dollar, wie Konzernchef Sam Palmisano Mitte Mai bei einem Investorentreffen in New York angekündigt hatte. Als Beispiel für Investitionen nannte er Software für "Cloud Computing", bei dem Informationen auf gemeinsam genutzten Servern gespeichert und abgerufen werden./DP/fn/gr

Quelle: dpa-AFX  

das Fünffache des Umsatzes:

http://www.nytimes.com/2010/05/13/technology/13sap.html?dbk

Würde das auch bei den meines Erachtens zum Verkauf stehenden Metastorm auch so laufen, wäre das Unternehmen ca. 340 Millionen Dollar wert und auf Internet Capital entfielen mit seinem 33%-Anteil immerhin 112 Millionen Dollar.  

http://finance.yahoo.com/news/...nline-bw-610005697.html?x=0&.v=1  

ist nicht größer als der Wert von 76% an ICGCommerce:

Internet Capital Group, Inc.(NasdaqGM: ICGE)
Real-Time: 7.90  0.21 (2.59%) 10:29AM EDT

Last Trade: 7.96
Trade Time: 10:17AM EDT
Change:  0.15 (1.85%)
Prev Close: 8.11
Open: 7.90
Bid: 7.97 x 100
Ask: 7.99 x 100
1y Target Est: 12.00
Day's Range: N/A - 7.95
52wk Range: 4.93 - 11.11
Volume: 36,972
Avg Vol (3m): 301,924
Market Cap: 290.08M
P/E (ttm): 5.25
EPS (ttm): 1.51
Div & Yield: N/A (N/A


Die Cash und die 10 anderen privaten Beteiligungen neben ICGCommerce der insgesamt 11 gibt es umsonst.  

wert als die momentane Marktkapitalisierung wie ein Vergleich mit dem 2009er Ipo Open Table zeigt:



That are numbers of Open Table with a market-cap of 900 million. Open Table is on Ipo of 2009.


View: Annual Data | Quarterly Data
All numbers in thousands
Period Ending Mar 31, 2010 Dec 31, 2009 Sep 30, 2009 Jun 30, 2009
Total Revenue 21,251 19,169 17,042 16,390
Cost of Revenue 2,720 10,043 (10,118) 7,406

Gross Profit 18,531 9,126 27,160 8,984

Operating Expenses
Research Development - - - -
Selling General and Administrative 14,765 5,012 24,796 7,610
Non Recurring - - - -
Others - - - -

Total Operating Expenses - - - -


Operating Income or Loss 3,766 4,114 2,364 1,374

Income from Continuing Operations
Total Other Income/Expenses Net 69 90 110 91
Earnings Before Interest And Taxes 3,835 4,204 2,474 1,465
Interest Expense - - - -
Income Before Tax 3,835 4,204 2,474 1,465
Income Tax Expense 1,311 1,091 1,578 773
Minority Interest - - - -

Net Income From Continuing Ops 2,524 3,113 896 692

Non-recurring Events
Discontinued Operations - - - -
Extraordinary Items - - - -
Effect Of Accounting Changes - - - -
Other Items - - - -


Net Income 2,524 3,113 896 692
Preferred Stock And Other Adjustments - - - -

Net Income Applicable To Common Shares $2,524 $3,113 $896 $692





And that a the better numbers of ICGCommerce:


Master of Excellence: ICGCommerce

• Grew revenues to $22.9 million in Q1, an increase from $18.8 million in Q1 2009

• Q1 EBITDA of $2.6 million (excluding the impact of stock-based compensation and unusual items) slightly below $2.8 million for Q1 2009

• Cash and cash equivalents were $18.7 million at March 31, 2010

• Sales pipeline increased significantly

• Signed multi-year, multi-million dollar expansion with existing pharmaceutical sector client  

http://seekingalpha.com/article/...tioned-for-a-comeback?source=yahoo

Logischerweise nicht wieder bis $4.280, sondern im er ersten Schritt bin auch mit einem Zweihunderstel = 21,40 und längerfristig mit 42,80 zufrieden, denn ich habe die meisten zwischen vier und sieben Dollar gekauft.  

"I do believe that ICGE ´s current share price is an attractive entry point which allows investors to purchase a participation in a diversified portfolio of carefully chosen and monitored high quality pre-IPO growth companies. In turn, these companies benefit from the resources, both human and financial, of the tremendously experienced directors of their ICGE "partner."  

mehr nachlesen:

http://messages.finance.yahoo.com/...64355&tof=1&frt=2#264355  

http://messages.finance.yahoo.com/...p;mid=264355&tof=2&frt=2  

in die Gänge, die nach jahrelangem kontinuierlichen Wachstum in 2009 eine leichte Schwäche hatten.

http://www.whitefence.com/blog/press/2010/05/...still-find-great.html  

als ein neues Unternehmen, das nicht annähernd dem Sachverstand von Internet Capital gewachsen ist.

http://www.fool.com/investing/high-growth/2010/05/...tech-startu.aspx

Zudem bekommt man bei Internet Capital momentan einen Discount von 60% auf den Inventwarwert (Kasse, Wertpapiere, Wert der nicht börsennotierten Vermögensbeteiligungen.  

http://messages.finance.yahoo.com/...64355&tof=4&frt=2#264355  

Operator

Your next question comes from the line of Jeff Van Rhee with Craig Hallum.


Jeff Van Rhee - Craig Hallum

Congrats on getting the increased stake in ICG Commerce. It's great to see it. Several questions, may be first, Buck, can you just take again very high level but as you look at the company you certainly been through a pretty meaningful transition already as you become more of a focused stake operating type company. If you look out 18 months if that’s a reasonable timeframe, at this point, what you think is a reasonable expectation of what the portfolio looks like in 18 months in terms of the number of companies, the number of the consolidated stakes versus the remaining positions, how quickly you might be able to liquidate some of those? Just give us an update is to what 18 months out might look like?


Walter Buckley

That's a good question, Jeff and I think just with one caveat that, that a lot of this is outside our complete control but I think 18 months we'd like to have probably double the number of top-line companies regarding our portfolio today, either from existing companies in the portfolio or from new acquisitions that we'd like to monetize, in addition one or two of our current portfolio companies. Monetize meaning, unlocking value in a number of ways, so I wouldn’t just want to, it could be a merger, could be a sale, could be an IPO.


http://seekingalpha.com/article/...transcript?source=yahoo&page=5  

ICGCommerce:

http://vodpod.com/watch/...nd-accelerates-for-procurement-outsourcing  

http://messages.finance.yahoo.com/...p;mid=264355&tof=1&frt=2  

http://www.icgcommerce.com/corporate/doc/html/news/prhandler/pr93.htm  

The result of the ownership in the eight core-companies:

76% of ICGCommerce = 437 million

33% of Metastorm = 103 million

36% of Starcite = 79 million

31% of Freeborders = 77 million

50% of Channelintelligence = 65 million

36% of Whitefence = 41 million

89% of Govdelivery = 20 million

81% of Investorforce = 22 million


http://messages.finance.yahoo.com/...p;mid=264355&tof=4&frt=2  

Clark lead CP procurement outsourcing
April 7th, 2010 by Inderpal Singh Leave a reply » .Since 2006, more than 20 per cent of top-tier US consumer products (CP) companies including Unilever, Kimberly-Clark, Sara Lee and Chiquita have signed procurement outsourcing agreements in an effort to reduce indirect costs, drive bottom line improvements or reinvest to drive growth, it has been claimed.

Procurement outsourcing firm ICG Commerce, which compiled the estimate, predicts that adoption of procurement outsourcing is poised to accelerate in 2010.

“Based on increased pressure to quickly meet changing business demands, CP companies continue to be the leading adopters of procurement outsourcing,” said Rachael Stormonth, senior vice-president at Nelson-Hall, a leading Business Process Outsourcing (BPO) research firm.

“Companies such as Unilever, Kimberly-Clark, Sara Lee and Chiquita are using procurement outsourcing to reduce non-core costs and increase the effectiveness of their procurement function.”

“In 2010, the ability to drive earnings per share improvements continues to be a challenge with a short list of solutions,” added Jon Feeney, managing director research, Consumer Research Group, Janney Montgomery Scott LLC.

“Those companies who focus aggressively on productivity will be most successful. I have seen a number of CP companies implementing strategies involving procurement outsourcing to improve productivity and reduce costs and expect this trend to continue.”

According to ICG, for most of 2009, consumer products leaders reduced costs through traditional one-time measures such as employee layoffs, plant closings and product price cuts. In 2010, even with economic conditions stabilising, companies are looking for new ways to fund innovation and growth.

“CP executives’ primary focus has traditionally centred around the consumer-facing side of the business, and especially of late, understanding changing consumer behaviors with the downturn,” said Manly Molpus, a member of ICG Commerce’s CP Executive Advisory Board.

“More recently, leaders are stepping back to look at the overall business from top to bottom, with a focus on costs too — and procurement outsourcing represents an important opportunity to improve operations and optimize spending.”

Source:http://www.procurementleaders.com/news/latestnews/...roc-outsourcing/  

für die Beteiligungen an den 11 privaten Unternehmen.

http://finance.yahoo.com/q?s=ICGE  

Posting könnt Ihr nur erkennen, wie niedrig Internet Capital zu seinem Fair Value bewertet ist. Eigentlich wollte ich die nachstehende Adresse posten:

http://messages.finance.yahoo.com/...64355&tof=1&frt=2#264355  

mit der momentanen Marktkapitalisierung:

http://messages.finance.yahoo.com/...64355&tof=1&frt=2#264355

Daraus kann man ein Verdreifachungspotenzial ableiten - und zwar auf der Basis der momentanen Fundamentals, nicht auf der Basis von zukünftigen Hoffnungswerten.  

könnte die Verpflichtung dieses neuen CFO sein:



A sign for an ipo is the new CFO

“For the thirteen years prior to Gestalt, he worked for Sanchez Computer Associates, a global software company where he served initially as Chief Financial Officer, and then as President and Chief Operating Officer. During his career with Sanchez, he led a successful IPO prior to the later sale to Fidelity National Financial.”

ICG Commerce Appoints Joseph Waterman Chief Financial Officer
Executive to Lead Financial Strategies as Company Experiences Growing Demand for its Procurement Outsourcing Solution
PHILADELPHIA - Tuesday, April 27, 2010 - On the heels of announcing significant growth in 2009, ICG Commerce,
the procurement outsourcing specialist, today announced the appointment of Joseph Waterman to Chief Financial
Officer, effective March 15, 2010. Mr. Waterman assumes responsibility for the company’s finance strategy and
operations and reports directly to Chief Executive Officer Carl Guarino.

ICG Commerce grew revenues by 28 percent in 2009 and increased spend under management by 33 percent to $13.6
billion. This growth reflects the increasing recognition among companies that procurement outsourcing is the
next generation strategy for improving financial performance by delivering hundreds of millions in savings across
indirect and non-core spend areas. Mr. Waterman is positioned to lead ICG Commerce through continued global
expansion, in addition to seizing opportunities created by the increased demand for its services.


For the five year period prior to joining ICG Commerce, Mr. Waterman worked for two venture backed entities. Most
recently, he was the Chief Financial Officer of RecoverCare, LLC, a leading distributor of health care solutions.
Prior to working with RecoverCare, Mr. Waterman was the Chief Financial Officer of Gestalt, LLC, a privately held
defense consulting firm. During his three-year tenure, the company’s revenue grew three-fold. For the thirteen years
prior to Gestalt, he worked for Sanchez Computer Associates, a global software company where he served initially as
Chief Financial Officer, and then as President and Chief Operating Officer. During his career with Sanchez, he led a
successful IPO prior to the later sale to Fidelity National Financial.

http://www.icgcommerce.com/corporate/doc...  

können dann schon die momentane Marktapitaliserung von Internet Capital darstellen. Die anderen 10 der insgesamt 11 privaten Beteiligungen von Internet Capital gibt es dann umsonst, ebenso die Cash/Wertpapiere.