CrowdGather (OTCBB: CRWG) $1.25. Announced on June 10th that it has acquired Adisn, a next generation Digital Ad Agency that uses relationship data from the social web to enhance targeting, for $5.5 million, the largest acquisition in CrowdGather’s history. CrowdGather will issue 4,621,849 shares of common stock for the purchase. Adisn will operate as a wholly owned subsidiary of the Company.
Adisn had audited revenues for calendar 2009 of $889,867 and based upon its unaudited revenues through May 2009, we believe that Adisn will contribute positive cash flow and increased revenues over the next 12 months to CrowdGather. This is before taking into consideration any synergies or additional revenues that result from the selling of CrowdGather network’s advertising inventory by Adisn.
What They Do: With its growing portfolio of special interest forums and enthusiast message board communities, CrowdGathe has created a centralized network to benefit forum members, forum owners and forum advertisers. CrowdGather provides a highly interactive and informational social network for members, a management and revenue-sharing resource for third-party forum owners, and a largely untapped advertising network for marketers worldwide.
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Local.com (Nasdaq: LOCM) $6.84. Today announced the acquisition of the assets of OCTANE360, a technology startup providing domain-based local advertising solutions to small businesses, domain portfolio owners, agencies and channel partners.
Under the terms of the agreement, Local.com acquired the assets of OCTANE360 for $5 million in cash and stock with an earnout of up to $5.9 million if certain performance criteria are met in the two-year period following the closing. Founded in 2008 and based in Los Angeles, California, OCTANE360 will become a wholly-owned division of Local.com.
What They Do: Local.com owns and operates a leading local search site and network in the United States.
Denny's Corporation (Nasdaq: DENN) $2.60. Today announced that it will begin converting the restaurant operations of up to 140 Flying J Travel Centers (“Flying J”) to Denny’s units starting in July 2010.
As previously announced in March 2010, Denny's has been selected as the full-service restaurant operator of choice for Pilot Travel Centers LLC (“Pilot”). On June 30, 2010 the Federal Trade Commission approved the merger of Pilot and Flying J enabling the agreement with Denny’s to proceed. Now named Pilot Flying J, the company is North America’s largest retail operator of travel centers.
What They Do: Denny’s is one of America’s largest full-service family restaurant chains, consisting of 1,322 franchised and licensed units and 237 company-owned units, with operations in the United States, Canada, Costa Rica, Guam, Mexico, New Zealand and Puerto Rico.
Cyclacel Pharmaceuticals (Nasdaq: CYCC) $1.72. Today annpunced that the U.S. Food and Drug Administration (FDA) has granted orphan drug designation to the company's sapacitabine (CYC682) product candidate for the treatment of both acute myeloid leukemia (AML) and myelodysplastic syndromes (MDS).
"Orphan drug designation for both AML and MDS significantly strengthens the value proposition represented by sapacitabine and enhances our opportunity to advance this promising product candidate to late stage clinical development and commercialization," said Spiro Rombotis, President and Chief Executive Officer of Cyclacel.
What They Do: Cyclacel is a biopharmaceutical company developing oral therapies that target the various phases of cell cycle control for the treatment of cancer and other serious disorders.
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