Alloy Sells Its FrontLine Marketing Business to Acosta
08 Giugno 2010 - 10:15PM
Alloy, Inc. ("Alloy") (Nasdaq:ALOY), one of the country's largest
providers of targeted media and marketing programs, today announced
the sale of its FrontLine in-store marketing division to Acosta
Sales and Marketing. Alloy was paid a cash purchase price of $36
million, subject to a working capital adjustment. These proceeds
add significantly to Alloy's net cash. The sale will permit
Alloy management to increase its focus on the company's media and
entertainment businesses.
The FrontLine business was purchased by Alloy in
2007. Under Alloy's ownership, the sales and profitability of
the FrontLine division increased each year. Please refer to
Alloy's Form 8-k filed on June 8, 2010 for more detailed
information regarding this sale.
Petsky Prunier, LLC advised Alloy on the sale of FrontLine.
Commenting on the FrontLine sale, Matt Diamond, Chairman and CEO
of Alloy said, "We are happy to be able to realize significant
proceeds from the sale of our FrontLine division. The business
performed very well within Alloy, but as an in-store business, it
was not core to our long term vision. We thank a very talented
FrontLine management team for their contributions while at Alloy
and wish them continued success at Acosta."
The Alloy, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5852
About Alloy
Alloy, Inc. (Nasdaq:ALOY) is one of the country's
largest providers of media and marketing programs reaching targeted
consumer segments. Alloy manages a diverse array of assets and
services in interactive, display, direct mail, content production
and educational programming. Alloy works with over 1,500 companies,
including half of the Fortune 200. For further information
regarding Alloy, please visit our corporate website at
www.alloymarketing.com.
Forward-Looking Statements
This announcement contains 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, including
statements regarding the Company's expectations and beliefs
regarding the Company's future results or performance. Because
these statements apply to future events, they are subject to risks
and uncertainties. When used in this announcement, the words
"anticipate", "believe", "estimate", "expect", "expectation",
"project" and "intend" and similar expressions are intended to
identify such forward-looking statements. The Company's actual
results could differ materially from those projected in the
forward-looking statements. Additionally, past results should not
be considered to be an indication of the Company's future
performance. Factors that might cause or contribute to such
differences include, among others, the Company's ability to:
increase revenues; generate high margin sponsorship and multiple
revenue streams; increase visitors to its Web sites and build
customer loyalty; develop its sales and marketing teams and
capitalize on these efforts; develop commercial relationships with
advertisers and the continued resilience in advertising spending to
reach the teen market; manage the risks and challenges associated
with integrating newly acquired businesses; and identify and take
advantage of strategic, synergistic acquisitions and other revenue
opportunities. Other relevant factors include, without limitation:
its competition; seasonal sales fluctuations; the uncertain
economic and political climate in the United States and throughout
the rest of the world and the potential that such climate may
deteriorate further; and general economic conditions. For a
discussion of certain of the foregoing factors and other risk
factors see the "Risk Factors That May Affect Future Results"
section included in the Company's annual report on Form 10-K
for the year ended January 31, 2010 and in subsequent filings
that the Company makes with the Securities and Exchange Commission.
The Company does not intend to update any of the forward-looking
statements after the date of this announcement to conform these
statements to actual results, to changes in management's
expectations or otherwise, except as may be required by law.
CONTACT: Alloy, Inc.
Joseph D. Frehe, Chief Financial Officer
(212) 329 - 8347
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