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GoIndustry plc / Market: AIM / Epic: GOI

18 September 2006

GoIndustry plc (‘GoIndustry’ or ‘the Group’)



Interim Results



GoIndustry plc, the AIM listed industrial machinery and equipment auctioneer, announces its results for the six months ended 30 June 2006.



Highlights



·           More than 50% of auctions conducted Online for the first time

·           Turnover up 29% to £16.1 million (2005: £12.5 million)

·           Gross margins up by 1% to 59%

·           Operating profit before interest recorded for the first time in the Group’s history at £0.2 million (2005: loss of £1.5 million)

·           Loss before taxation reduced by £1.6 million to £0.2 million

·           Net assets up 59% to £20.5 million (2005: £12.9 million)

·           Positive net current assets recorded for the first time since 2001 at £3.2 million (2005: net current liabilities £1.6 million)



Commenting on the results, GoIndustry CEO John Allbrook said:  “The Group has made excellent progress since its admission to AIM in January, as reflected in these results, which show an inaugural operating profit and robust revenue growth.  GoIndustry is well placed to benefit from the vast opportunities in the global industrial machinery and equipment market through the increasing use of Online auctions.  I believe that following an extensive restructuring period we are beginning to turn the corner and that the Group will continue to strengthen its position both financially and operationally.”





For further information visit www.goindustry.com or contact:

John Allbrook               GoIndustry plc                                      Tel: 020 7098 3700

Isabel Crossley             St Brides Media & Finance Ltd            Tel: 020 7242 4477



Notes

GoIndustry plc is a global market leader in the valuation and sale of surplus industrial machinery and equipment.  The Group combines traditional asset sales experience with innovative eCommerce technology and advanced direct marketing to service the needs of corporations, insolvency practitioners, dealers and asset based lenders around the world.







CHIEF EXECUTIVE’S REVIEW



I am pleased to report the results for the first six months of 2006, which show a strong operating performance that has resulted in the Group posting its first ever Operating Profit (before interest) since it was founded in 1999.



Revenues improved by 29% in comparison with the first half of 2005, and growth was witnessed in each of the Group’s four geographic business units (UK, Continental Europe, North America and Asia).  Improved revenue performance was matched by an increase in Gross Margins and the Group is now starting to yield the benefits of its key strategic actions taken over the last eighteen months:



·           Sales alignment with the most significant and profitable opportunities

·           Increased Online auction penetration

·           Expanding the global buyer database

·           Improving operating margins



In the first half of 2006 the Group held 387 sales events, generating more than £48 million of Gross Asset Sales.  Online penetration exceeded 50% of the number of sales events conducted for the first time in the Group’s history and these Online auctions generated £19.1 million (39% share) of Gross Asset Sales.  In addition, the average Online auction realisation was £94,000 for the first six months of 2006, a 106% increase when compared to the same period in 2005.  These improvements indicate how strongly the Group has driven the adoption of its Online auction methodology, and how warmly our customers have received it.



The Group continues to take advantage of the accelerating trend of the movement of industrial manufacturing from North America and Western Europe to China, India and the emerging economies of Eastern Europe.  Our marketing efforts attract a global audience to all our sales events and the Group enjoys an enviable reputation for conducting auctions in a fair and ethical manner.



All four Business Units reported strong revenue growth compared to the same period in 2005 and each was profitable on an operating basis before interest expense and corporate allocations:



·           United Kingdom – revenues up 32%

·           Continental Europe – revenues up 24%

·           North America – revenues up 24%

·           Asia – revenues up 59%



Our Balance Sheet shows positive net current assets, which it has not done since before the acquisitions that were made in 2001.



Key Developments in 2006



Highlights for the first six months of 2006 included:



·           5th January – GoIndustry plc lists on AIM via the reverse takeover of Grasshopper Investments plc

·           9th May - £5 million raised for working capital purposes via placing 12 million new Ordinary shares and a convertible, redeemable debt instrument

·           22nd May – Rollout of new internal Customer Relationship Management system commences

·           1st June – Dana Corporation signs long term global agreement for the provision of asset management services

·           15th June – First major auction conducted in Kolkata, India realises more than £200,000 of gross profit



With a solid business pipeline, a strengthened Balance Sheet and sufficient working capital, our Group is well positioned for the second half of 2006 and beyond.





John Allbrook

Chief Executive Officer





Consolidated Income Statement
for the half year ended 30 June 2006



In thousands of pounds sterling
Notes
Half year ended

30 June 2006

(unaudited)
Half year ended

30 June 2005

(unaudited)
Period ended

5 January 2006

(audited)

Revenue
2
16,191
12,509
30,540

Cost of sales
 
(6,689)
(5,293)
(14,622)

Gross profit
 
9,502
7,216
15,918

Administrative expenses
 
(9,168)
(8,520)
(15,795)

Share based payments
 
(171)




(157)
(503)



Exceptional items
 
-
-
(4,030)

Total administrative expenses
 
(9,339)
(8,677)
(20,328)


 
 
 
 

Profit/(loss) from operating activities
 
                           163
(1,461)
(4,410)


 
 
 
 

Net finance costs
 
(389)
(377)
(980)

Exceptional items
 
-
-
(1,892)

Total net finance costs
 
(389)
(377)
(2,872)

Loss before income tax
 
                           (226)
(1,838)
(7,282)

Income tax expense
 
(10)
(10)
(127)

Loss for the period
 
(236)
(1,848)
(7,409)

Attributable to:
 
 
 
 

Equity holders of the Group
 
(415)
(1,848)
(7,425)

Minority interest
 
179
-
16


 
(236)
(1,848)
(7,409)

Loss per share attributable to equity holders of the Group
 
 
 
 

Basic
3
(0.2p)
(1.6p)
(6.9p)

Fully diluted
3
(0.2p)
(1.6p)
(6.9p)




The accompanying notes form an integral part to these consolidated financial statements.





Consolidated Balance Sheet
as at 30 June 2006                  

                                                                                       

In thousands of pounds sterling
Notes
As at

30 June 2006

(unaudited)
As at

30 June 2005

(unaudited)
As at

31 December 2005

(audited)

Non-current assets
 
 
 
 

Intangible assets
 
24,859
22,156
24,861

Property, plant and equipment
 
980
1,075
992

Total non-current assets
 
25,839
23,231
25,853

Current assets
 
 
 
 

Inventories
 
3,524
4,358
2,399

Accounts receivable
 
8,077
9,427
6,090

Cash and cash equivalents
 
5,985
3,713
5,164

Total current assets
 
17,586
17,498
13,653

Total assets
 
43,425
40,729
39,506

Current liabilities
 
 
 
 

Accounts payable
 
8,114
12,261
8,042

Current tax liabilities
 
-
70
109

Provisions
 
           731
447
731

Bank loans and overdrafts
 
5,528
6,360
6,256

Total current liabilities
 
               14,373
19,138
15,138

Non-current liabilities
 
 
 
 

Loans and borrowings
 
130
212
290

Provision for pension liabilities
 
5,436
5,053
5,324

Convertible Ioan notes
4
2,990
3,297
-

Other non-current payables
 
-
97
-

Total non-current liabilities
 
8,556
8,659
5,614

Total liabilities
 
22,929
27,797
20,752

Net assets
 
20,496
12,932
18,754

Capital and reserves
 
 
 
 

Called-up equity share capital
5
9,957
7,014
9,357

Share premium
5
4,311
157
2,717

Shares to be issued
 
3,951
2,844
3,951

Treasury shares
 
                  (315)
-
                (372)

Acquisition reserve
 
44,871
39,025
44,871

Foreign currency translation
 
(364)
(8)
(79)

Accumulated losses
 
(42,228)
(36,223)
(41,813)

Equity shareholders’ funds
 
20,183
12,809
18,632

Minority interests
 
313
123
122

Total equity
 
20,496
12,932
18,754




The accompanying notes form an integral part to these consolidated financial statements.


Consolidated Statement of Cash Flows
for the half year ended 30 June 2006



In thousands of pounds sterling
Half year ended

30 June 2006
Half year

ended

30 June 2005
Period ended

5 January 2006

Cash flows from operating activities
 
 
 

Loss before income tax
(226)
(1,838)
(7,282)

Depreciation and amortisation
142
185
354

Net interest expense
389
377
980

Share based payments
171
157
503

Write down of inventory
-
-
2,766

Bad debt provision
-
-
541

Actuarial losses on defined benefit scheme
-
-
457

Premium on loan note conversion
-
-
1,891

Cash inflow /(outflow) before working capital changes
476
(1,119)
212

Increase in inventories
(1,125)
(1,863)
(2,681)

Increase in accounts receivable
(2,006)
(3,365)
(572)

Increase/(decrease) in accounts payable
71
2,304
(201)

Decrease in provisions
-
(149)
(123)

Cash used in operations
(2,584)
(4,192)
(3,365)

Interest paid
(509)
(430)
(1,096)

Income and corporation taxes paid
(134)
(10)
(5)

Interest received
120
53
115

Net cash used in operating activities
(3,107)
(4,579)
(4,351)




Cash flow from investing activities
 
 
 

Purchase of property, plant and equipment
(12)
(149)
(216)

Proceeds from disposals of property, plant and equipment
-
                   6
                            -

Purchase of intangible assets
-
(5)
(18)

Net cash used in investing activities
(12)
(148)
(234)




Cash flow from financing activities
 
 
 

Proceeds from issue of share capital
2,100
-
1,729

Proceeds from loan notes
2,990
-
2,642

(Decrease)/ increase in bank loans and overdrafts
(728)
3,399
3,285

Repayment of loans and borrowings
(158)
3,083
(88)

Net cash from financing activities
4,204
6,482
7,568




Net increase in cash and cash equivalents
1,085
1,755
2,983

Cash and cash equivalents at beginning of period / year
5,164
2,200
2,175

Foreign exchange differences
(264)
(242)
6

Cash and cash equivalents at end of period / year
5,985
3,713
5,164




The accompanying notes form an integral part to these consolidated financial statements.



Consolidated Statement of Changes in Equity
for the half year ended 30 June 2006



In thousands of

pounds sterling
 Issued share capital
 Share premium
 Shares to be issued
 Acquisition reserve
 Treasury shares
 Foreign currency translation
 Accumulated losses
 Equity shareholders’ funds
 
Equity as at

5 January 2006
 9,357
 2,717
 3,951
 44,871
 (372)
 (79)
 (41,813)
 18,632
 
Exchange difference on foreign currency translation
 -
 -
 -
 -
 -
 (285)
 -
 (285)
 
Loss for period
 -
 -
 -
 -
 -
 -
 (415)
 (415)
 
Share based payments
 -
 114
 -
 -
 57
 -
 -
 171
 
Shares issued
 600
 1,500
 -
 -
 -
 -
 -
 2,100
 
Cost of issuing shares
 -
 (20)
 -
 -
 -
 -
 -
 (20)
 
At 30 June 2006
 9,957
 4,311
 3,951
 44,871
 (315)
 (364)
 (42,228)
 20,183
 











Consolidated Statement of Changes in Equity
for the period ended 5 January 2006

In thousands of

pounds sterling
Issued share capital
Share premium
Shares to be issued
Acquisition reserve
Treasury shares
Foreign currency translation
Accumulated losses
Equity shareholders’ funds

Equity as at

1 January 2005
5,128
1,428
2,845
38.909
-
(85)
(34,388)
13,837

Exchange difference on foreign currency translation
-
-
-
-
-
6
-
6

Loss for period
-
-
-
-
-
-
(7,425)
(7,425)

Shares issued
2,713
1,289
-
1,289
(372)
-
-
4,919

Shares to be issued
         -
-
1,106
-
-
-
-
1,106

Shares issued for acquisition
1,516
-
-
4,673
-
-
-
6,189

At 5 January 2006
9,357
2,717
3,951
44,871
(372)
(79)
(41,813)
18,632




The accompanying notes form an integral part of these consolidated financial statements.



Notes to the Financial Statements
for the half year ended 30 June 2006



1. Basis of preparation



GoIndustry plc (“the Company”) is a public limited company incorporated in England under the Companies Act 1985. The financial information in this Interim Financial Report consolidates the Company and its subsidiaries (together referred to as “the Group”). The Group’s consolidated financial statements for the period ended 5 January 2006 are included in the Group’s 2005 Annual Report and Accounts available on the Group’s website www.goindustry.com.



The unaudited consolidated interim financial statements for the six months to 30 June 2006 and 30 June 2005 do not constitute statutory accounts. The financial information for the period ended 5 January 2006 does not constitute statutory accounts for the purposes of s240 of the Companies Act 1985. The statutory accounts for the period ended 5 January 2006 have been delivered to the Registrar of Companies and received an unqualified auditor’s report and did not contain a statement under s237(2) or (3) of the Companies Act 1985. The interim financial statements are unaudited and have not been reviewed by the auditors.



The information in this document does not include all of the disclosures required by IFRS in full annual financial statements, and it should be read in conjunction with the consolidated financial statements of the Group for the period ended 5 January 2006. This interim financial information has been prepared applying the accounting policies and presentation that were applied in the preparation of the Group’s published 2005 Annual Report and Accounts. As indicated in the 2005 Annual Report and Accounts, the interim financial statements have now been prepared using sterling as the functional currency. Previously reported figures in Euros have been converted into sterling in accordance with IAS21 “The Effects of Changes in Foreign Exchange Rates”.





2. Segment information

Primary reporting format – Geographic segments


In thousands of pounds sterling
Revenue
Loss before income tax


Half year ended

30 June 2006
Half year ended

30 June 2005
Period ended

5 January 2006
Half year ended

30 June 2006
Half year ended

30 June 2005
Period ended

5 January 2006

UK
6,878
5,207
15,021
274
108
(1,716)

Continental Europe
3,899
3,145
6,869
(273)
(388)
(2,997)

North America
4,220
3,406
6,691
(489)
(1361)
(2,843)

Asia
1,194
751
1,959
262
(40)
274

Group
16,191
12,509
30,540
(226)
(1,681)
(7,282)

       





3.             Loss per Share



The loss per share is calculated on loss of £0.4 million (2005: £1.7 million) and on 190,363,803 shares (2005: 105,037,114 shares) being the weighted average number of shares in issue during the period. Loss per share for the period ended 5th January 2006 is calculated on a loss of £7.4 million and on 107,694,936 shares, being the weighted average number of shares in issue during that year.





4.             Convertible loan note



On 9 May 2006, the Company issued £2,990,000 in redeemable, convertible loan notes.  The loan notes mature on 5 May 2009 and bear interest at 8% per annum, payable quarterly in arrears.  They may be redeemed by the Company at par at any time after 5 May 2008.  They may also be converted into 5p Ordinary shares at a conversion price of 21p per share. The convertible loan notes shown as at 30 June 2005 were converted into equity of GoIndustry AG prior to the reverse takeover of Grasshopper Investments plc, as disclosed in note 22 of the 2005 Annual Report and Accounts.



5.             Share capital



On 9 May 2006, the company issued 12 million new 5p Ordinary shares at 17.5p per share, which raised £2.1 million. In addition, as disclosed in note 24 of the 2005 Annual Report, the company entered into an agreement to pay a bonus to three senior managers of its subsidiary, Michael Fox International, Inc., subject to continual employment.  The liability under this arrangement for the period ended 30 June 2006 was satisfied by the allocation of 1,141,422 5p Ordinary shares at a value of 15p per share ("FRR Shares"), which were held in Treasury.  The unvested shares are reported as Treasury shares, and upon vesting a charge is made to the Income Statement with a credit to Treasury shares for the 5p nominal value; the balance is credited to Share premium. The following table sets out the movement in share capital and share premium:





Group



In thousands of pounds sterling
5p GoIndustry plc issued Ordinary shares (number)


Nominal value


Group Share Premium

At 5 January 2006
187,133,034
9,357
2,717

Shares issued
12,000,000
600
1,500

FRR shares
-
-
114

Less cost of issuing shares
-
-
(20)

At 30 June 2006                
199,133,034
9,957
4,311






END


 


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Internet Capital nach dem Merger mit Credittrade nach den bisherigen Aussagen etwas weniger als 20% halten wird:

Screen grabs share of interdealer trades

From Creditflux: Issue 60, 1 August 2006

At least two-thirds of the European iTraxx interdealer market has now moved to electronic trading, according to London dealers, reflecting increased competition for screen-based business among brokers. Dealers say the electronic market's share of interdealer index trading is up compared to early last year, when the leading e-trading platform - Creditex's RealTime screen - was still largely unchallenged.

"The volume of trades done electronically is higher than a year ago, as additional platforms have come live," says a sell side credit derivatives banker, who declined to be named. "More than two-thirds of interdealer index trading is now electronic. In the single name market the percentage is lower."

Street liquidity switched to Creditex overnight in the European as well as the North American index markets, after the broker launched a $500-a-ticket click-and-trade service in February 2004. Dealers responded by directing 90% or more of their index business to Creditex. Subsequently, the firm's share of the index business fell to nearer 40% in Europe, and much lower in North America, after traditional brokers slashed their fees.

Market participants say that Creditex can attract half of interdealer index volumes in Europe - a figure that is not disputed by rival firms. "In Europe we have a healthy percentage of interdealer index trading," says Mazy Dar, head of electronic platforms at Creditex.

Traders say that liquidity tends to fluctuate between different brokerage screens, and that several hybrid screen and voice systems attract good liquidity, on a pure electronic as well as voice basis.

GFI and Icap are reported to have the next highest portion of screen-based trading in Europe. Their hybrid systems allow traders to trade entirely on screen if they choose, or over the phone. Some heavy investment has gone into the hybrid systems.

Michel Everaert, chief information officer for e-commerce at GFI, says that no brokerage firm is in a position today to grab the lion's share of the screen business. "We always thought there was room for three or four electronic brokers in this space," he says. "We have made serious inroads into electronic liquidity."

Everaert says that pure screen-based trading on CreditMatch accounts for about 30% of GFI's European credit derivative business.

Lower volumes of single name interdealer e-trading is due to less liquidity, and higher frequency of non-standard trades compared with the index market. However, interdealer e-trading is also an established part of the single name market, particularly in more liquid sectors such as financials, telecoms and autos.

But, interdealer brokerage firms that have had success in European e-trading acknowledge that North America has been more difficult. "It is harder in North America but we have had some good success, for example in autos," says Dar at Creditex. "We have also made inroads providing a screen to trade the ABX [asset-backed] indices electronically."

North American dealers are less keen on the screen. In addition, competing in the North American interdealer space entails going up against some highly aggressively priced brokerage services. IDX Capital set the standard, after introducing a full-blown aggressor-only service in North American credit derivatives early this year. The firm provides a hybrid screen and broker platform.

Aggressor-only brokerage involves charging only the party that initiates the trade a fee, not the party that posts the initial price. Creative brokerage packages, such as combining an aggressor fee with a lower initiator fee, are also available in the European market.

Euan Hagger

 

Wonderful volume today  

Avg Vol (3m): 181,774

Market Cap: 375.29M

P/E (ttm): 6.48

When you additional look at the chart at the horizontal line of prices in the second half of the day, you reognize without greater difficulties: BIG SHORT had sold a lot of shares, to defend a range.

I had posted by 8,20, by 8,40, by 8,60, by 8,80, by 9, by 9,20 by 9,40: BIG SHORT has no chance to cover low. And now I say ist by 9.60 again: No chance for BIG SHORT to cover low.



 

WhiteFence partners with industry-leading home service providers, allowing us to present you with the exact options and offer details for all services available at your address.

Internet Capital hält 39% an Whitefence.

http://www.whitefence.com/corporate/providers.html  

5 Steps to Choosing The Right BPM Suite
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Softwaregebieten gehört Businesse Process Management. Metastorm ist auf diesem Sektor der weltweit größte Poor Play. Internet Capital hält 42% a Metastorm.

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Discussion Forum
"...The figures that are out there are for enterprise software for business systems. If we limit the costs of the software to licensing, configuration and custom code then the overall cost will be affected by how closely the solution meets your requirements out of the box..."

Contribute to this Discussion  




By Laura Mooney

If you're just now thinking about adopting business process management (BPM) technology, there's good news and bad news. The bad news is that you're behind the early adopters. The good news is that you can take advantage of the lessons learned and the advancements in BPM software that have emerged as the technology has matured.

In the past five years, BPM software evolved from its early roots in workflow to more comprehensive "pure-play" BPM programs that offer graphical process design, process automation and process monitoring and reporting capabilities for human-centric work. It's this pure-play BPM software that has delivered such strong results for organizations worldwide and helped to drive the increased interest in BPM

However, during this transition, enterprise application integration (EAI) providers continued to address the need for complex integration and automation of system-based processes, the business intelligence (BI) providers continued to meet corporate performance management needs, and the business process analysis (BPA) vendors catered to organizations with more advanced process modeling and simulation needs.

While all are critical to business success, this segmentation of the technology market poses a challenge for buyers and IT organizations that need to purchase multiple applications and then piece them all together. It's a cost, time and maintenance headache. This has led several of the leading pure-play BPM vendors to take the lead in expanding their solutions to encompass all of these areas -- providing what has become known as a "BPM suite."

A true BPM suite will allow you to address the full, roundtrip process life-cycle for both human-centric and system-based processes with a single, integrated solution from a single vendor.

The full roundtrip process life-cycle includes modeling, integration, automation, management, monitoring, analysis, simulation and improvement -- with the goal being to create the agility needed to continually repeat this cycle and fine-tune and optimize your business on a near real-time basis.

Choosing a BPM suite, rather than a series of disparate applications, will decrease your costs, increase your time to benefit, and increase your flexibility and agility in managing and improving multiple processes.

Best Practices in Choosing a BPM Suite
For you to take advantage of the latest, most proven BPM suite technology, you must first understand the options available to you and then ensure you choose the right solution for your organization. This article outlines an approach for choosing a BPM suite that can help you quickly cut through the marketing hype, shorten your evaluation period and give you greater confidence in the solution you select.

Five best practice steps for choosing the right BPM suite solution for your organization are:

1. Determine the scope of your process management needs.
2. Understand what the BPM "essentials" are and then determine what additional advanced features you need.
3. Based on what you discover in Steps 1 and 2, document your requirements and weight your priorities.
4. Identify a short list of vendors.
5. Conduct vendor evaluations and engage in proof-of-concepts.

--> Step 1. Determine the scope of your process management needs.
Determine the scope of your process management needs. Some of the questions to answer during this step are:

What are your most critical processes?
How many of them are human-centric vs. system-centric?
What are your scalability requirements in terms of the number of processes, number of locations and geographic deployment?
How complex is your IT infrastructure? What platforms do you need to interoperate with to be successful? Is achieving a service-oriented architecture part of your overall strategy?
What are your short-term vs. long-term process needs?
Be sure to include people from the both business and IT in the scope definition and BPM suite evaluation and selection process. Both business users and IT managers are critical to any BPM project's success, so involving them early is important.

-->Step 2. Understand what the BPM "essentials" are vs. more advanced BPM features.
In order for you to be successful, there are certain essential elements that must be present in your BPM solution. Without these, your implementation is likely to be longer, more painful and less beneficial than it potentially could be -- and it may fail altogether. First and foremost, a BPM suite must be able to address both your human-centric and system-based processes because both are critical to your business. Beyond that, essential features to evaluate include the ability to:

Design and model a process in a graphical format that can be owned and maintained by the process owner and easily published for process execution.
Separate business rules, forms and roles from process flow for easier maintenance.
Execute and manage both simple and complex processes via a robust, scalable process engine.
Create online forms that will flow through a process -- helping you eliminate paper.
Accommodate dynamic roles within an organization and automatically adapt content and key performance data to give each individual a unique "view point" into a process.
Provide a single user view across an entire process and enable accessibility through a variety of portals -- such as SharePoint, Outlook, the Web and mobile devices.
Easily provide access to, manage and control the content that people need in order to make intelligent decisions during the process and to generate an automatic audit trail for compliance.
Monitor process activity, obtain instantaneous visibility into process content and status and generate reports to facilitate process improvement.
Simulate the impact of process changes using live process data and enable real-time changes or additions to process flows, roles and forms.
Add new processes without slowing down or affecting business operations.
Integrate with a wide variety of disparate applications -- across .NET, Java and legacy frameworks -- so that you can leverage your existing infrastructure and extend the benefits you get from BPM across your enterprise.
Leverage the latest technologies, such as Web services, and provide a framework that will help you move toward a service-oriented architecture (SOA) environment to ensure optimum interoperability.
Configure the solution to meet your unique process needs.
In addition to the essential features outlined above, the best BPM suites will also offer more advanced capabilities. While you need to weigh which of these advanced features are most important to you in the short-term, you also need to take into consideration what you will want to leverage in the future.

Important advanced features to evaluate in a BPM suite include:

Advanced reporting and business intelligence capabilities that allow you to analyze both real-time and historical data and look at time-phased performance. This capability should be an integrated part of the BPM suite and should leverage the live process database so you can base decisions on actual, up-to-the-minute information.
Advanced business rules management is important if you need to manage and maintain large rule sets and leverage them across multiple processes or if you want to empower the system to analyze and automatically execute different process flows based on certain conditions. This allows you to automate large portions of the process and minimize the impact of rule changes while at the same time ensuring consistent enforcement of policies across the company and across processes.
Advanced modeling and simulation gives you the ability to not only model graphical representations of a process, but also to simulate the impacts of changes to a process to measure its effect on numerous variables including cost, profitability, resource utilization, throughput speed and other critical business objectives. The modeling and simulation environment must be coupled with the rest of the BPM suite to ensure you are working off of accurate, live process data and to ensure that process changes can be applied quickly from the simulation environment to the execution environment. Statistical analysis models, such as Six Sigma, should be readily available and work within the simulation environment. Robust capabilities in this area are critical to process improvement.
Advanced integration and legacy control features are especially critical to organizations with a large number of system-based processes or an extremely heterogeneous IT environment. Advanced integration capabilities will support not only point-to-point communication but also allow the BPM suite to manage and control processes executing on other systems, so that the BPM suite remains the top-level orchestrator of the entire process. It also allows you to analyze and improve the performance of legacy applications. If you rely on mainframe systems, look for capabilities to access and manage those applications within processes running on the BPM suite.
While many of these advanced features are offered as standalone applications by a variety of vendors, only by tying them into a BPM suite do you gain the benefits of a faster implementation, single interface, single vendor support and lower total cost of ownership. If you already own one or more of these technologies, the best BPM suite providers will have a mechanism to link into your existing applications, often through a packaged connector.

Finally, understand how BPM interacts with other functional areas, such as content/document management, business performance management and business activity monitoring. Rate how important it is that you tie these areas into the overall solution.

--> Step 3. Document your requirements and weight priorities.
After you understand the BPM essentials and the advanced BPM features available in a BPM suite, document what is most important to you and outline a focused requirements document to drive the evaluation process. Include both functional and company performance requirements in your document to ensure you look not only at the product but at the vendor who will be supporting you. In addition to knowing what is important to you, outline what is not important. This will serve as a reminder to the evaluation team not to get distracted by "cool" but unnecessary product features and extensive sales pitches. Stay focused during your evaluation.

--> Step 4. Identify a short list of vendors.
The first step in identifying a short list of vendors is narrowing the options by eliminating the vendors who are not BPM suite providers. For example, content management and middleware vendors may provide workflow in their offerings, but they won't be able to provide you with a complete, proven BPM suite that can work throughout your company.

You can narrow your choices even further by evaluating a company's market leadership position, performance, maturity and vision. How do you identify these established vendors? Look for companies that have been in business for awhile, have a strong customer base, and consistently rate well in industry analyst research published by analyst firms, such as Gartner, Forrester or Butler.

Another key vendor assessment area should be company performance. Look for a seasoned management team, consecutive quarterly growth, profitability, customer acquisition rate, strategic partnerships and overall strategy. You want a vendor who has an established, successful customer base and one that is growing and will continue to dominate the market. If international or multi-national operations are important to you, look for a vendor with broad geographic reach and a presence in your desired regions. On the product side, you should expect to see clear direction from the vendor on maintaining technology excellence.

Areas to consider are the maturity of the product, the strength of the product roadmap and the vendor's commitment to BPM software excellence and innovation. Finally, if you do nothing else, check customer references and results. Look for documented case studies and public displays of endorsement from customers -- if a customer is willing to talk about the results, chances are the solution not only delivered results, but exceeded expectations.

--> Step 5. Conduct vendor evaluations and engage in proof-of-concepts.
As you engage in vendor evaluations, stick to your requirements to make sure you focus on the features and criteria that are most important to your business. In addition, evaluate the company as well as the product. Criteria such as company performance, profitability, customer satisfaction and the breadth of training and service offerings are as important as the product itself when it comes to ensuring the long-term life of your investment. Analyst firms are often good sources of independent information and opinions on vendor options, so if you subscribe to these services, leverage them during your analysis. Now is also the time to talk directly to a vendor's customers and hear firsthand what to expect during the project life-cycle. Customer references will validate the stability of the product and the supportiveness of the vendor and its employees.

Finally, don't be afraid to push vendors into a proof-of-concept exercise early on in your evaluation process. This will help you expedite a decision, give you more confidence in the selected vendor's ability to meet your specific needs and give you a feel for the caliber of the services and support you will receive long-term.

Operational Necessity
Engaging in effective business process management practices within your organization is no longer an option but an operational necessity. The question then is whether or not implementing a BPM suite is also a necessity -- or can you make do without it? Given that thousands of organizations around the world, across dozens of industries, are implementing BPM technology and becoming more efficient, increasing control and gaining the visibility to be more agile, it seems the answer is that you can either move forward with choosing and implementing a BPM suite or risk being left behind. So get out there and start the process, step by step.

Useful Links
Metastorm
http://www.metastorm.com

About the Author:
Laura Mooney is senior director of corporate & product marketing for Metastorm, a global provider of business process management software to over 1,200 companies. Laura holds a BBA degree in information systems from James Madison University, Harrisonburg, VA, and an MBA degree with a marketing concentration from the University of Maryland, Smith School of Business. Contact Laura at lmooney (at) metastorm.com or visit http://www.metastorm.com.  

kann man auch durch noch so viele Leerverkäufe nicht verhindern - im Gegenteil, der Schuss kann nach hinten losgehen und in einem Shortsquezze kann man sich dem Fair Value sogar sehr schnell annähern. Zögern beim Kaufen kann daher eine Stange Geld kosten.

Worth of Internet Capital  24-Sep-06 12:55 pm    

Remember, I wrote: Step 12: Net Cash/Securities (170 million) and ICGCommerce (184 million) and Freeborders (150 million) and Starcite (120 million) and Creditex (115 million) and Metastorm (75 million) and Marketron (45 million) and VCommerce (28 million) and Emptoris (27 million) and Investorforce (12 million)and Whitefence (22 million)and eCredit.com (20 million) and Computerjobs (16 million) = 984 million and additional are 6 private held companies free of charge: Anthem Ventures Partners and others.

But let us compare with the market-cap about 366 million of today. If we subtract the net-cash/securities of 170 million, we have only 196 million worth for the 18 private held companies. Compare this with the worth of companies in my estimate about 814 million from the best 12 (184+150+120+115+75+45+28+27+12+22+20+16) - that are only 24%, a quarter. In the price of the share, we have idotic low prices for the 18 private held companies.

ICGCommmerce: 41 million in market cap, my estimate = 184 million

Freeborders: 37 million in market cap, my estimate = 150 million

Starcite: 30 million in market cap, my estimate = 120 million

Creditex: 29 million in market cap, my esimtate = 115 million

Metastorm: 19 million in market cap, my estimate = 75 million

Marketron: 11 million im market cap, my estimate = 45 million

Vcommerce: 7 million in market cap, my estimate = 28 million

Emptoris: 7 million in market cap, my estimate = 27 million

Investorforce: 3 million in market cap, my estimate = 12 million

Whitefence: 5 million in market cap, my estimate = 22 million

Ecredit: 5 million in market cap, my estimate = 20 million

Computerjobs: 4 million in market cap, my estimate = 16 million

I believe, we will walk step by step to my estimates.



 

Hast du eine Ahnung warum die Monthly Short Interest bis 15.9. noch nicht veröffentlicht wurden ?  

Worth of companies - Update      

The estimates bases on hundreds of articles, press-releases and other sources to the 18 private held companies.


Partner-Company: ICGCommerce

Revenues 2006 = 47 million

Fair Multiple = 5

Worth of ICGCommerce = 235 million

Ownership = 79%

Worth of the Ownernship of Internet Capital = 185 million



 

verfolge deine intressanten Berichte seit Monaten. Wann färben diese Beteiligungen endlich nachhaltig auf den Kurs von ICGE ab?
Natürlich ist der Kursverlauf in den letzten Wochen nicht schlecht, entspricht in etwa dem Index, aber eben nicht mehr.

Gruss und ein schönes Wochenende

penski  

war in der Tat recht mühselig und auch die Entwicklung im letzten Jahr, die Du offensichtlich beobachtet hast, war zwar positiv und auch etwas besser als die des Nasdaq, aber eben nicht so, wie es von den Fundamentaldaten her möglich wäre.


http://finance.yahoo.com/q/bc?s=ICGE&t=1y

Auf der anderen Seite muss das aber für einen Einsteiger nicht schlecht sein, denn im stehen ja noch fast alle Chancen offen. Allerdings muss er Geduld mitbringen, Zocker sollten sich andere Wert aussuchen - auch wenn ich nicht ausschließe, dass wir bald einen plötzlichen Sprung nach oben haben, wenn der große Shortseller nicht mehr will oder kann.

Ein Grund für die trotz extrem guter Fundamentaldaten nur etwas über dem Nasdaq-Anstieg liegende Kursentwicklung sind sicher die extremen Emotionen, die mit dem Wert verbunden sind. Denn er kommt von $4280, fiel auf $3,40 und momentan sind wir bei $9,45. Privatanleger werfen Internet Capital mit anderen Fallen Angels in einen Topf, die aufgrund einer Überschuldung zusammenbrachen. Das war bei Internet Capital nicht der Fall, sondern hier war schlichtes Überzocken die Ursache für den idiotischen Kurs von 4280 und den anschließenden Rückfall. Was private Anleger eben immer noch nicht glauben, ist die Tatsache, dass Internet Capital kaum noch Schulden hat - im wesentlichen nur 26 Millionen aus einer Wandelschuldverschreibung. Der Kassenbestand und der Bestand an marktfähigen Wertpapieren ist dagegen um ein Vielfaches größer, nämlich über 200 Millionen. Damit sind Zweifel an der Überlebensfähigkeit von Internet Capital Räuberpistolen der schlimmsten Sorte, die aber nun eben noch z.B. in US-Foren von Verzockern lanciert werden, die ihr Vermögen mit Internet Capital oder anderen Internetwerten wie Commerce One zu Höchstkursen verzockt haben. Auch auf diesem Board besuchte uns bis vor wenigen Monaten immer mal wieder die Spezies. Vielleicht kennst Du auch solche Verzocker wie z.B. den Motzky von Wallstreetonline oder den Ebörse und ihre Zweit-ID's bei Comdirect und Consors. Das Extrem-Makabre ist, dass auf den genannten Boards auch die Figuren, die sich dort Webmastern nennen/nannten, an diesem Leser-Bescheisser-Vermögensvernichtungsspiel bei Bio- und Internetwerten mitmachten, z.B. ein gewisser Bio-Heino, der mit großer Wahrscheinlichkeit auch so manches Vermögen von Leserkundschaft um die Ecke gebracht hat.

Langer Rede kurzer Sinn: Privatinvestoren machen wegen nicht berechtigter Emotionen nach dem Anstieg von 3,40 auf jetzt 9,45 einen Bogen um die Aktie und folglich haben auch Publikumfonds Angst vor den Emotionen ihrer Kundschaft und kaufen noch nicht so recht. Folglich bleiben nur Anleger, die sich von Emotionen freimachen: Profis eben bzw. Institutionals. Deren Anteil liegt bei 63% am Aktienbestand - das sind Banken, die für den Eigenbestand kaufen, und Hedgefunds. Somit kauft nur eine der drei wichtigen Anlegergruppen.

Ich will das aber auf keinen Fall beklagen, denn sonst hätte ich in den letzten mehr als vier Jahren nicht weit über 16.000 Aktien für 88.000 Dollar zusammenkaufen können. Momentan sind die 150.000 Dollar wert und ich sehe auf mittlere Sicht durchaus die Chance hier auf 300.000 Dollar und auf längere Sicht auf 500.000 Dollar zu kommen. Solange wir nicht bei 300.000 Dollar sind, geht jedenfalls, wenn die Fundamentals so bleiben wie jetzt, kein Stück aus dem Depot.  

die durchaus die Infosys von China werden können. Aber auch wenn es "nur" eine chinesische Tata oder chinesische Wipro werden sollte, ist das Wertsteigerungspotenzial gigantisch. Zusammen mit einem Konkurrenten liegt Freeborders auf dem Weg zu diesen Positionen jedenfalls in Führung. Vor dem Hintergrund dieser enormen Chancen ist die nachstehende Bewertung sehr, sehr konserativ. Dies gilt insbesondere, wenn man bedenkt, dass einer der beiden Co-CEO's im Februar 2006 laut über einen Milliarden-IPO von Freeborders nachdachte, der in nach seinen Worten in der not-to-distant-füture stattfinden sollte.

Worth of companies - Update  (Not rated)      30-Sep-06 06:42 am     Partner-Company: Freeborders

Revenues 2006 = 38 million

Fair Multiple = 11

Worth of Freeborders = 418 million

Ownership = 33%

Worth of the Ownernship of Internet Capital = 139 million

The estimates bases on hundreds of articles, press-releases and other sources to the 18 private held companies.


 

der Finanzszene:

The best of the best bought  (Not rated)      29-Sep-06 10:40 am     Internet Capital. Look at the greatest 10:

TOP INSTITUTIONAL HOLDERS

Holder Shares % Out Value* Reported

GENDELL, JEFFREY L. 3,262,780 8.35 $29,365,020 30-Jun-06

Mellon Financial Corporation 2,448,037 6.26 $22,032,333 30-Jun-06

DIMENSIONAL FUND ADVISORS INC 2,166,477 5.54 $19,498,293 30-Jun-06

CAPITAL RESEARCH AND MANAGEMENT COMPANY 1,890,775 4.84 $17,016,975 30-Jun-06

SCHNEIDER CAPITAL MANAGEMENT, L.P. 1,669,092 4.27 $15,021,828 30-Jun-06

Barclays Global Investors UK Holdings Ltd 1,532,375 3.92 $13,791,375 30-Jun-06

ARIENCE CAPITAL MANAGEMENT, L.P. 1,091,017 2.79 $9,819,153 30-Jun-06

COLUMBIA PARTNERS, L.L.C, INVESTMENT MANAGEMENT 1,053,498 2.69 $9,481,482 30-Jun-06

TRIVIUM CAPITAL MANAGEMENT, LLC 846,500 2.17 $7,618,500 30-Jun-06

GRUBER & MCBAINE CAPITAL MANAGEMENT LLC 804,000 2.06 $7,236,000 30-Jun-0

My advice: It is time to buy with the best of the best.

 

größten Institutionals - alles Investmentbanken und Hedge-Fonds vom Feinsten. Dass da ein Shortseller, vermutlich auch ein Hedge, falsch liegen dürfte liegt wohl auf der Hand. Momentan heißt also das Spiel: Einer gegen zehn bzw. noch viel mehr, denn auch die Nr. 11 - Nr. 30 sind nur vom Feinsten.

Re: The best of the best bought  (Not rated)      29-Sep-06 10:46 am     The TOP TEN, best of best, hold together 43% of outstanding shares.


Sentiment : Strong Buy

 

insbesondere was die Erträge von Starcite nach dem Merger mit Onvantage anbetrifft. Diese Schätzung kann sich im nachhinein als sehr konserativ herausstellen.

Re: Worth of companies - Update  (Not rated)      30-Sep-06 06:48 am    

Partner-Company: Starcite (after merger)

Revenues 2006 = 40 million

Fair Multiple = 10

Worth of Starcite (after merger) = 400 million

Ownership (after merger) = 27%

Worth of the Ownernship of Internet Capital = 108 million

The estimates bases on hundreds of articles, press-releases and other sources to the 18 private held companies.


Sentiment : Strong Buy
 

Wie eng es für den BIG SHORT wird zeigen die Zahlen in zwei Postings von einem anderen deutschen Board. Hinzu kommen noch Bestände von Insidern/Management, die nahe 10% liegen. Und wenn Ihr einmal auf die Institutionell klickt, wird Euch klar, wer alles diesem einen Hedge, der leer verkauft, gegenübersteht – alles Hochfinanz vom Feinsten: Investmentbanken und Hedgefonds vom Feinsten.


Forum: Aktien | USA



horrorszenario          §




29.09.06, 20:04 Uhr (46 Klick(s))

ICGE noch mehr Institutionelle

jetzt bei 62,9%http://www.nasdaq.com/asp /holdings.asp?mode=&k ind=&symbol=UAXS& symbol=ICGE&symbol=&# 38;symbol=&symbol=  8;symbol=&symbol=& ;symbol=&symbol=& symbol=&FormType=Inst itutional&mkttype=  8;pathname=&page=hold ings&selected=ICGE



Beantworten




Forum: Aktien | USA



horrorszenario          §




29.09.06, 19:02 Uhr (30 Klick(s))

ICGE steigende Shortquote

ICGE $ 9.50 Internet Capital Group Inc. - Common Stock -0.08 Shares Short 3,164,150 Days to Cover (Short Ratio) 19.1 Short % of Float 8.93 %

 

man könnte meinen die Shortis seien umschifft worden, aber das meinte ich schon mehrere Male......

Gruss
penski  

für den Shortseller, z.B.

Worth of companies - Update  (Not rated)      30-Sep-06 06:52 am     Partner-Company: Creditex (after merger)

Revenues 2006 = 120 million

Fair Multiple = 5

Worth of Creditex (after merger) = 600 million

Ownership (after merger) = 17%

Worth of the Ownernship of Internet Capital = 102 million

The estimates bases on hundreds of articles, press-releases and other sources to the 18 private held companies.



 

Worth of companies - Update  (Not rated)      30-Sep-06 07:03 am     Compare with the market cap of 369 million of yesterday: Worth of the 4 best of 18 private hold companies of 534 million (ICGCommerce 185 million and Freeborders 139 million and Starcite 108 million and Creditex 102 million) and the net-cash/securities of 170 million = 714 million. That's near double owrth of market cap of yesterday and $18/share.

 

Das Kernproblem der Aktienkursprognose lässt sich auch mit Charts nicht beantworten. Charts können Dir nur sagen, ob im rückblickenden Vergleich die aktuellen Kurse günstig oder ungünstig für einen Ein- oder Ausstieg sind. Erhalte Dir Deine Unbefangenheit oder auch Distanz gegenüber Charts. Die Charts der Zukunft werden immer erst noch geschrieben, und sie sind abhängig von allen Entscheidungen der am Markt agierenden oder aktuell nur zuschauenden Investoren, u.z. in jeder Sekunde. Nichtstun kann eine ebenso richtige wie falsche Entscheidung sein. Ein alter BWL-Prof. ( Leffson ) hat einmal gesagt: "Ungewissheit über die Zukunft gehört zu den Wesensmerkmalen der Wirtschaft und der Wirtschaftswissenschaften". Damit kann an der Börse auch jeder zu gleichen Bedingungen Entscheidungen über die Zukunft fällen, denn im Hinblick auf die Zukunft ist unser Wissen immer gleich Null. Aber wenn man sich mit den Fundamentals ( Geschäftsmodell, Strategie, Auftragslage, Allianzen, wirtschaftliche Rahmenbedingungen ) eines Unternehmens genauer beschäftigt, kann man den Schleier ein wenig lüften. Mit Charts Erfolg zu haben funktioniert vorübergehend nur dann, wenn viele an den Kokolores von Chartformationen wie Kopf-/Schulterformation, Bärenfalle, Bullenfalle etc. glauben. Irgendwann setzen sich die fundamentalen Treiber aber durch und definieren den langfristigen Wachstums- oder Abstiegspfad, u.z. des Unternehemens und der Kurse, und damit auch den künftigen Chartverlauf.

Wen es genauer interessiert, dem sei das bahnbrechende Buch von

Reinhard H. Schmidt,
Aktienkursprognose, Aspekte positiver Theorien über Aktienkursverläufe
Wiesbaden: Gabler-Verlag, 1976.

empfohlen. Er lehrt an der Uni Frankfurt, und dieses Buch war seine Habilitationsschrift, bereits 1976 geschrieben, aber nach wie vor gültig.

Dort kann man nachlesen, warum die Technische Analyse nur eine Ansammlung von Tautologien (nichtssagenden Umschreibungen) enthält, die sich in der Kernthese zusammenfassen lässt "Der Trend dauert solange wie er dauert bis ein neuer Trend beginnt. Aber Trendbrüche lassen sich mit Hilfe der Chartanalyse nicht vorhersagen".

Hier werden die Chartisten massiv protestieren, ändert aber nichts an der Gültigkeit dieser Erkenntnis  

apropro
Hier werden die Chartisten massiv protestieren, ändert aber nichts an der Gültigkeit dieser Erkenntnis

da hast du denen aber einen kräftigen Schock versetzt, die haben doch alle richtige zeichenprogramme im Computer um die zukünftigen Kursanstiege in dem chart zu manipulieren und danach können die dir genau ausrechnen wann und wo und wie der kurs in den nächsten jahren nach welcher Mondphase verläuft  

schon alle sehr reich sein  

allein schon mehr wert sind als die Börsenkapitalisierung von gestern.

IT-Outsourcing to China  (Not rated)      1 minute ago     Freeborders is the Nr. 1 or Nr. 2 and will become the Infosys of China. Internet Capital owns 33% of Freeborders.

The market in asia:


Study: Asia-Pacific IT outsourcing to top $10 billionBy Isabelle Chan, ZDNet Asia
Published on ZDNet News: June 22, 2006, 7:14 AM PT

Forward in EMAIL Format for PRINT ZDNet Tags: Asia Outsourcing
A new market study forecasts Asia-Pacific outsourcing spending to cross the $10 billion mark this year, suggesting that companies in the region are open to contracting out more IT work.

Excluding Japan, research firm IDC estimated that $10.5 billion will be spent on IT outsourcing within the region in 2006, topping $16 billion in 2010. This represents a compound annual growth rate of 10.9 percent over the forecast period.

"In the past 10 years, we've already seen significant (spending) by the mature Australian and New Zealand markets," Eugene Wee, a senior analyst for IDC's Asia-Pacific services research, said in a statement. "But increasingly, companies within (Southeast Asia), India and China, are becoming more open to the idea of letting the experts take care of their IT ecosystem."

India and mainland China will continue to be high-growth markets in the next five years, driven primarily by large IT infrastructure growth in past years. These markets are not expected to have fully matured by 2010, IDC said.

According to the report, Singapore and Hong Kong--despite some market saturation--continue to offer opportunities in contract renewals and extensions, where companies look to migrate from support contracts to managed or outsourcing contracts.

A recent survey conducted by ZDNet Asia also revealed a growing interest among Singapore's small and midsize businesses to contract out selected IT functions. Areas that are most likely to be outsourced include application development and maintenance, as well as Web site development and hosting, the survey revealed.

Isabelle Chan of ZDNet Asia reported from Singapore.

 

Why Freeborders will win: Look at the clients:

Select Client List


Retail

Byer
CJ Banks
J.Crew
J.Jill
Kangol
Marc Jacobs
Peacocks
Saks
Sara Lee Courtaulds
Sundance Catalog
TAG
Target
Woolrich
Yakka


Software/Technology

BroadVision
CommerceQuest
Immigration Tracker
NextJump
Onyx Software
RichFX


Manufacturing

Ciba
DuPont
Invista
Owens-Illinois
VF Corporation


Financial Services

Citigroup
Credit Suisse First Boston
Fortis
Morgan Stanley
US Trust


Sentiment : Strong Buy
Rate it:
 

Re: IT-Outsourcing to China  (Not rated)       7-Oct-06 02:12 pm     I believe, the following document is very important, to make estimates of the growth of Freeborders, who is Number 1 or Number 2 of the IT-Outsourcers from China. Internet Capital owns 33% of Freeborders - and this 33% alone can get more worth than the market cap of today. Flanking has bought in the last years in a lot of steps 16,500 shares of Internet Capital for $ 88,000 (worth now $160,000) - but the price of $ 2,000 for the documentation is to expensive for an small investor like Flankenking. I believe, instituional investors, who invested and will invest millions in Internet Capital should buy the report of IDC. I believe too, that the private investors was and will be informed from Flankenking with a lot of detais about the market and Freeborders - they don't need such a expensive work. What is to say to this market, Flankenking did it, too.

Document at a Glance

China Business Process Outsourcing 2006–2010 Forecast and Analysis Price $2000
Oct 2006 Doc #CN221103N Market Analysis



Printed Page Length: 30 pages
Number of Tables: 4
Number of Figures: 7

by Judy Ou




Abstract
This IDC study assesses China's business process outsourcing (BPO) services market in 2005 and presents IDC's forecast from 2006 to 2010. In addition, this document identifies the market opportunities by five key business functions (procurement, finance and accounting, customer care, training, and human resources) in China. An overview of the competitive landscape is also provided as well as recommended strategies for service providers.

"The China BPO market is just at a nascent stage. The BPO services market (only key horizontal business functional segments: customer care, finance and accounting, human resources, training, and procurement) in 2005 was US$683.3 million, growing 25.7% over 2004. Although BPO continued to grow rapidly in China in 2005, the adoption rate was not as robust as what vendors had anticipated. IDC forecasts that the five key BPO segments in China will have significant growth in the next five years, with a 2005–2010 compound annual growth rate (CAGR) of 32.6%," says Judy Ou, analyst, Software and Services Group, IDC China.


Sentiment : Strong Buy
Rate it:

     
 

Allerdings habe ich an einer Stelle inzwischen korrigiert: "Die Erlöse dürften in 2006 bei ca. 60 Millionen liegen." Das dürfte erst der Wert für 2007 sein, eventuell etwas höher. Daher hatte ich auch vorsichtshalber den Wert der 27% von Internet Capital zunächst einmal auf 108 Millionen herabgesetzt.




Forum: Aktien | USA


horrorszenario  




14.08.06, 17:01 Uhr (142 Klick(s))  

ICGE hält 27% an Superfinanzkonzern

ich zitiere mal Libuda....

Durch den Zusammenschluss ergeben sich für Internet Capital überwiegend Vorteile:

Das Unternehmen hat jetzt 350 Angestellt.

Der Marktplatz generiert in 2006 Umsätze von über 5 Milliarden Dollar.

Damit ist ein Markt von 300 Milliarden erst angekratzt.

Das Wachstum liegt bei ca. 50%.

Die Erlöse dürften in 2006 bie ca. 60 Millionen liegen.

Durch den Zusammenschluss der beiden Marktführer verschwindet fast jeder Margendruck, denn neben dem Marktführer is nur noch die Wand.

Ein Multiple von 10 ist hier noch eine sehr vorsichtige Bewertung. Bei einem Umsatz von 60 Millionen liegen wir dann beim Wert bei 600 Millionen Dollar. Somit wären die 27% von Internet Capital 162 Millionen Dollar wert.


ICG Announces Formation of Premier On-Demand Meetings Management Company Through Combination of Partner Company, StarCite, and OnVantage
Wednesday August 9, 8:30 am ET


Text zur Anzeige gekürzt. Gesamtes Posting anzeigen...


WAYNE, Pa.--(BUSINESS WIRE)--Aug. 9, 2006--Internet Capital Group, Inc. (Nasdaq:ICGE - News) today announced that its partner company, StarCite, Inc., and OnVantage, Inc. have entered into an agreement to merge. This merger of equals will result in the largest on-demand meetings management company in the global marketplace for meetings and events. ICG expects to own approximately 27 percent of the combined company. Additionally, ICG will designate three of the combined company's seven board seats. The transaction is expected to close in the fourth quarter, subject to customary closing conditions and regulatory approval.
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The merged company will operate under the StarCite name and be based in Philadelphia. Mike Boult, the current CEO of StarCite, will be the CEO of the combined company. The merger creates a clear leader in the on-demand meetings management space. Together these companies offer a global solution that drives savings and control for clients by automating the complex workflow process inherent in meetings management.

"This merger brings together two parallel on-demand platforms providing a best practices approach to meetings management," said Doug Alexander, Managing Director of Internet Capital Group. "StarCite and OnVantage have been separately focused on driving change in the corporate meetings and events industry, and now, together, have the opportunity to accelerate market adoption by several years in a vast and largely untapped market. At the ICG level, we view this as an exciting opportunity and important stepping stone to building and realizing significant value for our stockholders through an on-demand business that fits directly in the bull's eye of our model."

For 2006, on a pro forma basis the combined company expects to process over 2.5 million attendee registrations on behalf of corporations, an annual increase of 50% over 2005. Pro forma revenues for the combined company are growing at an annual run rate of over 40%, excluding any necessary adjustments for purchase accounting.

"As the largest on-demand meetings management company, the new StarCite is distinctly positioned to address the sizeable market opportunity for managing corporate meeting spend," said Michael Boult, president and CEO of StarCite. "Driven by our combined vision and resources, we look forward to proliferating innovative solutions throughout the global corporate meetings and events industry."

About Internet Capital Group

Internet Capital Group (www.internetcapital.com) owns and builds Internet software companies that drive business productivity and reduce transaction costs between firms. Founded in 1996, ICG devotes its expertise and capital to maximizing the success of these platform companies that are delivering on-demand software and service applications to customers worldwide.

About StarCite

StarCite, Inc. is a provider of On Demand Global Meeting Solutions(TM). StarCite optimizes global investments in corporate meetings and events delivering visibility, savings and control. StarCite provides process efficiency, enabling technology and proven adoption management support to drive significant cost reduction to buyers and enhanced revenues to suppliers. StarCite is based in Philadelphia, PA. Investors in StarCite include Internet Capital Group (NASDAQ:ICGE - News), Maritz Travel Company, Seaport Capital, and TL Ventures. For more information about StarCite, or its technologies and services, please visit www.starcite.com.

About OnVantage

OnVantage(TM), Inc., headquartered in Santa Clara, Calif., is a technology provider for the $300 billion global market for the professional meetings and events industry. OnVantage offers flexible solutions to help corporations save time and money by automating the planning and procurement of large and small meetings with unprecedented cost control and spend visibility. OnVantage also makes it easy for meeting suppliers to grow their groups and meetings business by offering increased visibility with Fortune 1000 meeting planners as well as helping them efficiently manage and track the RFP process. A global corporation, OnVantage has sales and customer service operations in the US, UK, Germany and Hong Kong.

OnVantage and OnVantage Marketplace for Meetings are trademarks of OnVantage, Inc. All other names, brands, or products may be trademarks or registered trademarks of their respective owners.