(Reuters) – Italy’s Finmeccanica has agreed to sell its stake in aero-engine parts maker Avio to a state-controlled fund as it presses ahead with plans to sell around 1 billion euros ($1.24 billion) of assets this year to maintain its credit rating.

The defence and aerospace group said in a statement on Thursday it had reached an agreement to sell its 14 percent stake in Avio to the Italian Strategic Fund (FSI), which is controlled by state financing company Cassa Depositi e Prestiti (CDP).

The deal is subject to Avio being listed on the Milan stock exchange before the end of 2012, it said.

Finmeccanica, whose Chairman and CEO Giuseppe Orsi is under investigation for alleged international and domestic bribery, is suffering weaker defence electronics sales and a slowdown in its core markets and has tabled the sale of non-strategic assets to help cut debt.

Finmeccanica said FSI will take about 15 percent of Avio after the fund takes part in the initial public offering, that will include a capital increase, and buys the Finmeccanica stake.

On Monday the head of FSI said the fund was interested in investing in Avio should the shareholders decide on an equity operation.

Avio, which supplies engine parts for the Eurofighter Typhoon and engine makers General Electric and Rolls Royce, had sales of more than 2 billion euros in 2011.

Avio is owned by BCV Investments, 81 percent of which is owned by Cinven private equity.

Cinven bought Avio in 2006 in a deal that valued the company at about 2.6 billion euros.

At 0838 GMT Finmeccanica shares were up 1.19 percent while the Italian blue-chip index was up 0.88 percent. ($1 = 0.8069 euros) (Reporting by Stephen Jewkes; Editing by Hans-Juergen Peters)

PRESS RELEASE

CGI Group Inc. (TSX: GIB.A) (NYSE: GIB), a leading global provider of IT and business process services, has announced a recommended cash acquisition of Logica for 105 pence (C$1.68) per ordinary share equivalent to a total purchase price of £1.7 billion (C$2.8 billion) plus the assumption of Logica’s net debt of £322 million (C$515 million) as of December 31, 2011.

The full announcement was issued earlier this morning via RNS and may be viewed here.

Transaction highlights

Transaction represents a 59.8% premium to Logica’s closing price on May 30, 2012 (the last business day before this announcement), a 49.6% premium to the average share price over the one month period to May 30, 2012 and a 32.8% premium to the average share price over the six month period to May 30, 2012.
Transaction implies an enterprise value multiple of approximately 6.6 times Logica’s EBITDA for the 12 months ended 31 December 2011.
The transaction is expected to deliver substantial financial benefits through the realisation of annual integration benefits of £125 million (C$200 million) by the end of the third financial year following completion. These benefits are expected to be realised at a one-off cost of £165 million (C$265 million) over three years. In addition, it is anticipated that further revenue opportunities will be available to the combined business through the enhanced offering of both geographic and product services to clients of both CGI and Logica.
The transaction is expected to be immediately accretive in the range of 25% to 30% to CGI’s earnings per share excluding acquisition-related and integration costs. The accretion rate is expected to increase throughout the three year integration period.
Logica’s Board of Directors has unanimously agreed to recommend the transaction to Logica’s shareholders.
Irrevocable undertakings have been received in support of the transaction in all circumstances from Logica’s directors and in certain circumstances from Logica’s largest shareholders. Total irrevocable undertakings received represent a total of 18.19% of Logica’s outstanding shares.
CGI will finance the acquisition within its disciplined financial framework. The consideration will be funded through a combination of:
46.7 million subscription receipts exchangeable into new Class A shares in CGI at C$21.41 by the Caisse de dépôt et placement du Québec for C$1.0 billion;
Additional debt funding of £1.25 billion (C$2.0 billion) from Canadian Imperial Bank of Commerce, National Bank of Canada and The Toronto-Dominion Bank; and
Approximately C$650 million to be drawn from CGI’s existing credit facility.

Business rationale – CGI strongly believes this transaction will strengthen its capabilities across the five key attributes of a global leader in IT and business process services:

People and culture: an exceptional and talented team driven towards the common goal of client success and, as owners, benefiting from a performance-based culture.
Client proximity with blended global delivery: enhanced client intimacy and service delivery bringing the best capabilities and solutions to clients anywhere in the world, all the time.
End-to-end capabilities: enhanced global offering with expanded platforms and the ability to cover the entire customer services supply chain.
Operational excellence: proven methodologies and frameworks to ensure on-time, on-budget project delivery.
Mission critical intellectual property: expanded portfolio of opportunities for profitable revenue growth, improved revenue quality mix and over time, increased margins.

The combined company will have approximately 72,000 professionals in 43 countries and revenue of C$10.4 billion, offering clients across the world the best mix of business and technology expertise as well as an unmatched combination of local and global delivery options.

“This announcement is consistent with our profitable growth strategy and with our belief that the global consolidation of our industry is both necessary and inevitable. Logica is a leading business and technology service company with talented and committed employees and long-term client relationships,” said Michael E. Roach, President and CEO, CGI. “It further underscores our ongoing commitment to support our clients as they expand their businesses locally and globally. In addition to operational breadth and depth, the combined business will have critical mass and key blue chip client relationships. We warmly welcome Logica’s professionals and believe that the combined business will provide new and larger growth opportunities for employees and clients, as well as offering CGI shareholders the superior and industry leading returns we have delivered historically.”

“We believe Logica is the right acquisition, at the right price and at the right time to create one of the very few independent global end-to-end technology services providers,” added Mr. Roach.

Offer details
The recommended cash acquisition of all the issued and to be issued ordinary shares of Logica will be effected by means of Court-sanctioned scheme of arrangement in the UK. The transaction will be subject, inter alia, to the satisfaction or waiver of the conditions related to the approval by Logica shareholders and the Court of the scheme of arrangement, and the receipt of applicable regulatory approvals. All relevant documentation will be made available on CGI’s website at www.cgi.com.

Timetable
Details of the recommended acquisition will be sent to Logica shareholders shortly and in any event within 28 days of the date of this announcement. It is anticipated that the acquisition will completed by the end of September 2012.

Note: reference exchange rate assumed is £1:C$1.60.

Conference Call & Webcast
A conference call to discuss the proposed transaction will be held today, May 31, 2012 at 8:00 am EDT. Participants will include: Michael E. Roach, President and CEO, CGI; David Anderson, Chief Financial Officer, CGI; and, Lorne Gorber, Senior Vice-President, Global Communications and Investor Relations, CGI. To participate on the call, please dial 416 695 7806 / 888 789 9572 (North America) / 00 800 6578 9818 (international) and use the passcode 3564697. The conference call and supporting slides will be available live and for replay at http://www.cgi.com/investors.

About CGI
Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI provides end-to-end services with approximately 31,000 professionals located in offices and centres of excellence in Canada, the United States, Europe and Asia Pacific. As at March 31, 2012, CGI’s annualized revenue was approximately C$4.3 billion and its order backlog was approximately C$13.1 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in both the Dow Jones Sustainability Index and the FTSE4Good Index. Website: www.cgi.com.

About Logica
Logica is a business and technology service company, employing 41,000 people. It provides business consulting, systems integration and outsourcing to clients around the world, including many of Europe’s largest businesses. Logica creates value for clients by successfully integrating people, business and technology. It is committed to long term collaboration, applying insight to create innovative answers to clients’ business needs. Logica is listed on both the London Stock Exchange and Euronext (Amsterdam) (LSE: LOG; Euronext: LOG).

Additional information
This press release is not intended to form the basis of any investment decision. It does not constitute an offer or invitation for the sale or purchase of any securities, businesses and/or assets or any recommendation or commitment by CGI or any other person and neither this press release, nor its contents nor any other written or oral information made available in connection with the transaction shall form the basis of any contract. This press release has been prepared without reference to your particular investment objectives, financial situation, taxation position and particular needs.

If you have any doubt regarding these matters, you should consult your financial or other advisers.

This press release does not purport to be comprehensive or to contain all the information that a recipient may need in order to evaluate the transaction. No representation or warranty, express or implied, is given and, so far as is permitted by law and no responsibility or liability is accepted by any person, with respect to the accuracy or completeness of the press release or its contents or any oral or written communication in connection with the transaction. In particular, but without limitation, no representation or warranty is given as to the achievement or reasonableness of, and no reliance should be placed on, any projections, targets, estimates or forecasts contained in this press release. By publishing this press release, CGI does not undertake any obligation to provide any additional information or to update this press release or any additional information or to correct any inaccuracies which may become apparent.

Forward-looking statements
This press release contains statements that are or may be “forward looking statements” or “forward looking information” within the meaning of applicable securities laws. All statements other than statements of historical facts included in this press release may be forward looking statements. Without limitation, any statements preceded or followed by or that include the words “targets”, “plans”, “believes”, “expects”, “aims”, “intends”, “will”, “should”, “could”, “would”, “may”, “anticipates”, “estimates”, “synergy”, “cost-saving”, “projects”, “goal” or “strategy” or, words or terms of similar substance or the negative thereof, are forward looking statements. Forward looking statements include statements relating to the following: (i) future capital expenditures, expenses, revenues, earnings, economic performance, indebtedness, financial condition, losses and future prospects; (ii) business and management strategies and the expansion and growth of CGI or Logica’s operations and potential synergies resulting from the transaction; and (iii) the effects of government regulation on CGI’s or Logica’s business.

These forward looking statements are not guarantees of future financial performance. Such forward looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Many factors could cause actual results to differ materially from those projected or implied in any forward looking statements. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward looking statements, which speak only as of the date hereof. All subsequent oral or written forward looking statements attributable to CGI or any of its directors, officers or employees or any persons acting on their behalf are expressly qualified in their entirety by the cautionary statement above. CGI disclaims any obligation to update any forward looking or other statements contained herein, except as required by applicable law.

PRESS RELEASE

Shutterfly, Inc. (NASDAQ:SFLY), a leading Internet-based social expression and personal publishing service, today announced that it has acquired Photoccino, a developer of ground breaking technologies for photo ranking, analysis and organization based in Haifa, Israel. Photoccino’s current employees will join Shutterfly and continue to be based in Haifa.
“We are focused on developing innovative solutions that make the product creation and sharing process easier for our customers”
Photoccino’s advanced image analysis and selection technologies will be integrated into products across the Shutterfly, Tiny Prints, Wedding Paper Divas, and Treat brands. With Photoccino’s capabilities, customers will be able to more efficiently organize and select the best photos from their ever-increasing archives so they can quickly and easily create photo books, calendars, cards, and photo gifts. Photoccino’s technology applies proprietary algorithms to analyze and evaluate the quality and content of photos, ranks them, and automatically creates photo products using the customer’s best images.
“We are focused on developing innovative solutions that make the product creation and sharing process easier for our customers,” said Jeffrey Housenbold, president and chief executive officer of Shutterfly. “Photoccino’s best in class technologies solve a common consumer pain point: analyzing and organizing the increasing number of stored digital photos. By combining their intuitive technology with our innovative product offering, we will exponentially improve the creative experience for our customers.”
“When we founded Photoccino in 2011, our goal was to build technologies that would facilitate image analysis, selection, and product creation for our users. Shutterfly presents us with the opportunity to achieve this at much greater scale,” said Moshe Bercovich, Photoccino co-founder and chief executive officer. “The two companies share a passion for helping people enjoy, share and preserve photos, and we are excited by the prospect of what we can accomplish together.”
About Shutterfly
Founded in 1999, Shutterfly, Inc. is an Internet-based social expression and personal publishing company and operates Shutterfly.com, Tiny Prints.com, Weddingpaperdivas.com andTreat.com. Shutterfly provides high quality products and world class services that make it easy, convenient and fun for consumers to preserve their digital photos in a creative and thoughtful manner. Shutterfly’s flagship product is its award-winning photo book line, which helps consumers celebrate memories and tell their stories in professionally bound coffee table books. Shutterfly was recently named one of the top 25 Best Midsized Companies to Work For by the Great Place to Work Institute. More information about Shutterfly (NASDAQ:SFLY) is available at http://www.shutterfly.com.

PRESS RELEASE

TriNet, a trusted on demand HR partner to small businesses and entrepreneurs, announced today that it has acquired ExpenseCloud, a leading expense management solution. TriNet will incorporate ExpenseCloud’s offering into its client service platform later in 2012, including adding additional features in job costing, travel management and employee reimbursements.

Los Angeles-based ExpenseCloud will operate as a business unit of TriNet, with its name and brand remaining intact. The ExpenseCloud senior management team, including co-founder and CEO, Eric Sikola, and co-founder and CTO, Dan Fritcher, will remain in leadership positions in the new business unit and will continue focusing on expanding their customer base via the company’s existing business development activities.
“We’re enthusiastic about the acquisition of ExpenseCloud because their industry-leading expense management technology will enable us to provide new valuable services to our clients,” said Burton M. Goldfield, CEO of TriNet. “Small to mid-sized businesses in the TriNet family will soon have access to a powerful tool for efficiently managing their expenses. We’re also thrilled about the unique user acquisition model ExpenseCloud has built, which will create new channels of revenue for TriNet and drive awareness of our best-in-class on demand HR Services.”
ExpenseCloud provides everything companies need to manage the entire expense reporting process online or from a mobile device.  The three-year-old, cloud based solution allows users to create, submit, and approve expense reports online and then either reimburse employees or invoice clients via integration with leading SaaS accounting solutions.  The system seamlessly connects with many popular online solutions specifically tailored for small to medium size businesses such as FreshBooks, NetSuite, Intacct, and Intuit QuickBooks.  ExpenseCloud can also import expenses from thousands of credit cards and bank providers as well as receipt scanning and capture directly from iPhone, iPad, Android and Blackberry devices.
“We’re excited to join the TriNet family because of their strong reputation for being an invaluable resource to its clients, who will soon gain the ability to manage their expense reporting process online through TriNet’s HR platform,” said Eric Sikola, founder and CEO of ExpenseCloud. “We’re also thrilled about the resources TriNet will bring to bear in order to fuel our growth and accelerate our product roadmap to both existing TriNet customers and companies utilizing other HR platforms.”
“TriNet’s acquisition of ExpenseCloud helps us meet an important business need for the companies we work with,” said Jimmy Franzone, vice president of corporate development of TriNet. “TriNet continues to lead the PEO (professional employer organization) industry in finding innovative ways to provide value to clients.  We are dedicated to constantly enhance our service offering as the leading provider of HR outsourcing solutions.”
About TriNet
TriNet is a trusted partner to small businesses, providing critical HR-related services on an outsourced basis. TriNet’s solutions help contain costs, minimize employer-related risks and relieve administrative burden to keep an entrepreneur’s focus on core business functions. From employee benefits service and payroll processing to high-level human capital consulting, TriNet’s PEO expertise is integrated with every facet of a client’s business. TriNet specializes in serving fast-moving companies in fields such as technology and financial services, who recognize that top-quality employees are the most critical competitive asset. For more information, please visit http://www.trinet.com.

PRESS RELEASE

Ladenburg Thalmann Financial Services Inc. (NYSE MKT: LTS) today announced that David J. Strupp, Jr., a senior investment banker in the healthcare space, has joined Ladenburg Thalmann & Co. Inc. (“Ladenburg”) as a Managing Director, Healthcare Investment Banking, effective immediately. Mr. Strupp will be based in Ladenburg’s New York office.

Mr. Strupp joins Ladenburg from Rodman & Renshaw, LLC, where he served as a Managing Director, Healthcare Investment Banking, and led efforts expanding the firm’s scope of financing transactions and broadening its client base. Mr. Strupp had served previously served as Partner and Head of Healthcare Investment Banking at ThinkEquity Partners, and a Director of the Global Healthcare Group, Investment Banking Division, at Salomon Smith Barney Inc. Mr. Strupp received a B.A. in Economics from Bates College, and a M.S. in Economics from the London School of Economics.

Dr. Phillip Frost, Chairman of Ladenburg Thalmann Financial Services, said, “Ladenburg is pleased to add someone of David’s caliber to our already talented investment banking team, as we see substantial opportunity to continue to expand our efforts in the healthcare sector, a space we know well. In addition to Ladenburg’s growing investment banking and research capabilities, the firm has robust institutional distribution and a leading network of 2,700 independent financial advisors.”

“We’re excited to welcome David to Ladenburg, as his depth and breadth of experience in the healthcare sector will be an invaluable asset to our Firm,” said David Rosenberg, Co-President and Chief Executive Officer of Ladenburg Thalmann & Co. Inc. “David has particular expertise advising life sciences, biotechnology, specialty pharmaceutical, medical technology and diagnostics companies, and we’re confident that he will make important contributions to Ladenburg’s future success.”

Mr. Strupp said, “At a time when Ladenburg is extremely well-positioned for future growth in the space, I am thrilled to be joining the Firm and look forward to working with the talented team to expand its existing healthcare practice.”

About Ladenburg

Ladenburg Thalmann Financial Services is engaged in independent brokerage and advisory services, investment banking, equity research, institutional sales and trading, and asset management services through its principal subsidiaries, Ladenburg Thalmann & Co. Inc., Investacorp, Inc., Triad Advisors, Inc. and Securities America, Inc., which together have approximately 2,700 financial advisors and approximately $70 billion in client assets. Founded in 1876 and a New York Stock Exchange member since 1879, Ladenburg Thalmann & Co. is a full service investment banking and brokerage firm providing services principally for middle market and emerging growth companies and high net worth individuals. Investacorp, Inc., a leading independent broker-dealer headquartered in Miami, Florida, has been serving the independent registered representative community since 1978. Founded in 1998, Triad Advisors, Inc. is a leading independent broker-dealer and registered investment advisor headquartered in Norcross, Georgia that offers a broad menu of products, services and total wealth management solutions. Securities America, based in Omaha, Nebraska, was founded in 1984 and is one of the largest and most successful independent broker-dealers in the country. Ladenburg Thalmann Financial Services is based in Miami, Florida. Ladenburg Thalmann & Co. is based in New York City, New York with regional offices in Miami and Boca Raton, Florida; Melville, New York; Boston, Massachusetts and Princeton, New Jersey. For more information, please visit www.ladenburg.com.

This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future growth of Ladenburg’s investment banking business, including its healthcare practice. These statements are based on management’s current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of the Company’s business. These risks, uncertainties and contingencies include those set forth in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2011 and other factors detailed from time to time in its other filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. The Company is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.

PRESS RELEASE

RIT Capital Partners plc (“RIT”), chaired by Lord (Jacob) Rothschild, and Rockefeller Financial Services, Inc., the parent company of Rockefeller & Co., Inc., today announced the creation of a strategic partnership that brings together two of the most recognised and respected names in the investing world.

David Rockefeller, Honorary Director and retired Chairman of Rockefeller & Co., stated: “Lord Rothschild and I have known each other for five decades. The connection between our two families remains very strong. I am delighted to welcome Jacob and RIT as shareholders and partners in the ongoing development of our investment management and wealth advisory businesses.”

In acquiring the 37% equity interest previously held by Société Générale Private Banking, RIT will become a significant minority investor in Rockefeller Financial Services, Inc. alongside the Rockefeller family, related entities and the management team. The firms intend to collaborate on investment solutions and other areas of shared expertise to further serve the needs of their clients and investors.

RIT is a London listed investment trust with net assets of some £1.9 billion. In March 2012, RIT announced a partnership with Edmond de Rothschild Group (“EdR”) through which EdR become shareholders in RIT alongside Lord Rothschild’s family interests. Baroness Ariane de Rothschild became Honorary Vice Chairman of RIT, with Lord Rothschild becoming Honorary Vice Chairman of Edmond de Rothschild SA, the French holding company of Edmond de Rothschild Group.

Rockefeller & Co. dates back to 1882, when John D. Rockefeller established one of the world’s first family offices to manage his financial legacy. Today Rockefeller & Co. provides asset management and comprehensive wealth advisory services to a diversified client base of families, trusts, foundations and endowments and other institutions, representing $34 billion in assets under administration.

Reuben Jeffery III, Chief Executive of Rockefeller & Co., said: “This partnership is based on the unique strengths and attributes of our respective businesses, creating new opportunities for our clients, investors and other stakeholders. We look forward to working closely with RIT and Lord Rothschild as we continue to provide value added financial products and services to our diversified client base.”

Lord Rothschild, Chairman of RIT, remarked: “We are delighted at the prospect of bringing together these two entities in a long-term partnership. Like so many across the world, I have watched the development of Rockefeller & Co. with great admiration. The creation of this partnership with the Rockefeller family is truly historic. We look forward to the development of our joint investment activities across the global capital markets.”

The transaction is subject to regulatory approval and expected to close by the end of September. Financial terms were not disclosed.

About Rockefeller & Co., Inc.
Headquartered in New York and with offices in Boston, Washington D.C., Stamford, Connecticut, and Wilmington, Delaware, Rockefeller & Co. provides comprehensive investment and wealth management services to a diversified global client base of families, trusts, foundations and endowments and other institutions. As of March 31, 2012, the firm and its subsidiaries had approximately $34 billion in client assets under administration. For additional information, please visit www.rockefellerfinancial.com.

About RIT Capital Partners plc
RIT Capital Partners plc is an investment trust listed on the London Stock Exchange with net assets of some £1.9 billion. It is chaired by Lord Rothschild, whose family interests retain a significant holding. For 2011 it won the Best Large Trust award from the Investment Trust Journal, for its outstanding performance. For more information, please visit www.ritcap.co.uk.

PRESS RELEASE

Quark announced today its acquisition of Mobile IQ, creators of PressRunTM, the cloud-based digital publishing solution developed to deliver innovative, interactive tablet and mobile experiences.
Quark was acquired by Platinum Equity in August 2011 and has been working closely with Platinum’s M&A team to identify and pursue growth opportunities. Quark identified Mobile IQ as an ideal fit for expanding the company’s digital publishing solutions for the enterprise. With an impressive client base and an established presence in the United States and United Kingdom, Mobile IQ brings to Quark a high-caliber team, market-leading solutions, and a shared vision of digital publishing that includes HTML5 and XML.
“Quark’s intention is to be the leader in dynamic publishing. Our acquisition of Mobile IQ is the next step in offering the most comprehensive end-to-end solutions for publishing to mobile devices,” said Ray Schiavone, Quark President and CEO. “With the Mobile IQ team and their leading technology, we advance our ability to help organizations create structured content that can be combined with rich design and delivered across media channels in the most efficient ways possible.”
As a part of the acquisition, Mobile IQ becomes a subsidiary of Quark. Mobile IQ customers will continue to work directly with the Mobile IQ team, while benefiting from Quark’s expertise in broader enterprise publishing solutions. Due to the close alignment of vision and technology, customers should look forward to rapid integration of Mobile IQ technology into Quark’s enterprise solutions.
“It was evident from our early conversations that there is significant affinity between Mobile IQ and Quark’s approach to digital publishing,” said Shaun Barriball, Mobile IQ CEO and Founder. “This acquisition gives the Mobile IQ team an opportunity to continue developing an innovative roadmap for publishers, while expanding the use of our technology into new enterprise markets, such as financial services, manufacturing, and government.”
Mobile IQ’s PressRun solution for tablet publishing will continue to support multiple content creation formats, including HTML5, XML, and Adobe InDesign. To read more about PressRun support for InDesign, please see today’s announcement about its compatibility with InDesign CS6:
Financial terms of the transaction were not disclosed.
About Mobile IQ
With offices in London and Basingstoke in the United Kingdom and San Francisco in the United States, Mobile IQ has been at the cutting-edge of innovation in digital publishing for more than six years. The team has extensive background in enterprise mobile solutions and was responsible for developing the BBC News app, one of the most downloaded apps globally and the app that set the standard for news app design. Mobile IQ’s flagship offering, PressRun, at http://pressrun.com/, is the cloud-based digital publishing solution that delivers innovative, interactive digital tablet experiences.
PressRun uses HTML5, the next-generation Web language, to translate content for the iPad and iPhone, as well as for Android smartphones and tablets. Mobile IQ customers include The BBC, Time Inc., Metro, New England Journal of Medicine, Channel 4, and Top Gear. Metro recently won “App of the Year” at the UK Newspaper Awards 2012. In 2011, The BBC Good Food App won the PPA Data & Digital Publishing Award for “App of the Year,” and United Business Media’s Property Week Interactive Magazines won “Digital Edition of the Year.”
About Quark
Founded in Denver in 1981, Quark’s vision was to create software that would lay the foundation for modern publishing. For 30 years, Quark has delivered on that promise. Quark’s dynamic publishing solutions are setting new standards in automated cross-media publishing by combining the power of XML with flexible layout and design to automate the delivery of customized, intelligent communications across print, the Web, and digital media.
# # #
Quark and the Quark logo are trademarks or registered trademarks of Quark Software Inc. and its affiliates in the U.S. and/or other countries. PressRun is a trademark of Mobile IQ Ltd. All other marks are the property of their respective owners.
Contact: Sarah Rector, Quark Software Inc., 303-894-3753, srector(at)quark(dot)com

PRESS RELEASE

Menlo Ventures, a seed to growth stage investor in consumer and enterprise technology companies, announced today that its portfolio company, PowerReviews, entered into a definitive agreement to be acquired by Bazaarvoice BV +6.94% for approximately $150 Million.

PowerReviews is a leader in social commerce, helping more than 1,100 customers tap into consumer conversations to drive better business results, while providing consumers with an easy way to share their insights about brands, products and services. Bazaarvoice, a software-as-a-service (SAAS) company that went public in February 2012, offers social commerce solutions to retailers and brands.

Menlo Ventures, the lead investor and largest shareholder in PowerReviews with an ownership of about 30%, led the Series A round in December of 2005 and participated in all subsequent rounds. The deal represents a return of approximately 3 times its investment for Menlo Ventures IX.

Menlo Ventures’ Managing Director John Jarve has been a board director and made the venture firm’s initial investment. “PowerReviews is an innovator in the social commerce space. We funded the company when it was just four people and are pleased with its tremendous growth. This merger joins two innovative technology solutions and exceptional management teams to become the dominant leader in the cloud-based social commerce space.”

About Menlo Ventures

Menlo Ventures provides capital for seed through growth technology companies in the consumer and enterprise sectors. For decades, the firm’s market-driven research analysis has led to the identification of and successful exits in innovative technology markets. Notable research-areas of investment include Mobile (Siri, MobiTV, TeleNav), Enterprise storage (3Par), Communications (Acme Packet, Cavium Networks), and Consumer (Carbonite, Roku). Founded in 1976, Menlo’s portfolio includes 70 public companies and more than 100 mergers and acquisitions. Throughout the firm’s history, Menlo’s deep network of portfolio entrepreneurs, angels and advisors are a key resource made available to all of the firm’s investments. Menlo Ventures has $4B under management and is currently investing Menlo Ventures XI, a $400M fund with $20M allocated to our Menlo Talent Fund for fast seed funding.

PRESS RELEASE

National Educational Music Co., Ltd. (“NEMC”) is pleased to announce it has acquired substantially all of the assets of School Musical Suppliers, Inc., also known as City Music Center, one of New Jersey’s largest band and orchestra musical instrument rental companies. Terms were not disclosed.

“City Music Center has a long history of providing quality instruments and services to its customers, and we are excited to incorporate it within our nationwide affiliate network,” said David Benedetto, NEMC’s Chief Sales and Marketing Officer. “This transaction will provide additional support to our existing affiliates, not only providing them additional business in their territories, but also strengthening our presence in New Jersey, a state with a strong school music tradition.”

City Music’s President and sole shareholder, Guy Vinopal, added, “My key concern was to identify a strong company that would continue to provide excellent service to our customers. While we were courted by several companies in the industry, we were impressed by the new developments at NEMC and the way it treats its affiliate network. We could see how NEMC would provide City Music and its employees with the best environment moving forward.”

NEMC’s Chief Operating Officer, Ken Maehl, commented, “We will continue to market under the City Music Center name with customers seeing a whole new range of services and capabilities in the upcoming season.” City Music currently operates locations in Kenilworth, NJ, and Burlington, NJ. NEMC plans to consolidate the Kenilworth location into NEMC’s Mountainside, NJ, operation and will continue to operate the Burlington location. Mr. Vinopal will consult with NEMC post-transaction and remain active with City Music customers.

The City Music transaction is NEMC’s first acquisition since management and MidCap Equity Partners acquired NEMC in August 2011.

National Educational Music Co., Ltd. is a leading provider of band and orchestra musical instruments primarily for use in educational programs. The company provides instruments for sale and for rental throughout the United States. For more information, visit http://www.nemc.com .

School Musical Suppliers, Inc. has been providing band and orchestra musical instruments for sale and for rental to educational programs primarily in New Jersey since 1932. The company also provides a full range of musical instrument repair services. For more information, visit http://www.citymusiccenter.com .

MidCap Equity Partners, LLC is a New York City-based firm specializing in partnering with talented management teams to acquire middle-market companies. MidCap tailors its unique combination of operational, strategic and financial resources with management’s vision to obtain optimal results. For more information, please visit http://www.midcapequity.com .

PRESS RELEASE

Dunedin, the mid-market private equity house, has sold WFEL, the world leader in mobile tactical military bridging, to KMW, a German land defence systems provider. The sale has realised a multiple of 2.4x for Dunedin.

Under Dunedin’s ownership WFEL has seen significant growth in sales, predominantly exports, increasing by nearly 70% to £36.2 million in the year ended December 2011. Employee numbers have increased by around 15% to 228 over this period.

WFEL manufactures high specification, high functionality, complex mobile bridging systems for use in military and disaster relief scenarios. WFEL’s expertise – built on a century of UK engineering excellence and innovation – includes concept design, prototype manufacture and full scale production of a range of rapidly-deployable, modern bridging systems.

WFEL’s most recent product is the Dry Support Bridge (“DSB”), which it supplies to the US Department of Defence under a $500m contract. WFEL recently secured a £57m contract for the supply of DSB’s to Switzerland.

WFEL also provides value-added inspection, repair and maintenance; spares; and training services, both in the field and at its UK-based engineering site in Stockport, where it employs a team of highly-skilled engineers and support staff. In addition, WFEL is the sole supplier of specialist consumable steel rods to British Nuclear Fuels for use in Gas Cooled Nuclear Reactors.

Dougal Bennett, a partner at Dunedin who sat on the board of WFEL, said: “WFEL is an example of UK manufacturing at its best. In the last five years the company has seen significant international growth and enters KMW’s ownership with an enviable long-term order book. This has been achieved on the back of the excellent engineering and service reputation held by the company and delivered by the WFEL management team. Important new contracts have been won in markets as diverse as Switzerland, Turkey and Indonesia. Further exciting new opportunities exist in Asia and South America in particular.”

“WFEL has proven to be a real hidden champion of a business, with a market leading product, world leading engineering skills and a highly respected management team. We would like to wish the team and employees all success for the future and thank them for their dedication and hard work during Dunedin’s period of ownership.”

Ian Wilson, Chief Executive of WFEL, said: “Dunedin’s investment in WFEL, both financial and operational, has been invaluable in helping the company to grow to where it is now. Together, we have enhanced and expanded WFEL’s international sales and marketing reach; secured significant new contracts; and developed a strong and growing spares and refurbishment revenue stream.

“Through their extensive industrial network, Dunedin was able to introduce high calibre, experienced board members who have helped to drive the business forward. WFEL now has some very exciting opportunities open to it and we much look forward to pursuing these for the benefit of our new owners, KMW.”

-ENDS –
For further information please contact:
Equity Dynamics
Corinna Osborne 07825 326 440
Jane Kirby 07825 326 441

NOTES TO EDITORS:
Advisers
Corporate Finance – PWC: Stuart Warriner, Andi Tomkinson, Darren Jukes, Ben Mitchell and Sarah Walters
Legal – Pinsent Masons: Gregg Davison, Mark Whittaker
Legal UK (advising KMW) – Travers Smith: Andrew Gillen
Legal Germany (advising KMW) – Oppenhoff: Michael Abels
Corporate Finance (advising KMW) – Steen Associates: Joerg Freimund

Dunedin (www.dunedin.com)
Dunedin is a leading UK mid-market private equity investor targeting buyouts with a deal size of £20m to £75m. Dunedin typically invests £20m or more in its portfolio companies.
Dunedin focuses on a number of sectors, using its depth of knowledge to understand the market drivers and to build relationships with management teams, key industry participants and influencers. The firm has enjoyed particular success in the industrial, business services and financial services sectors, completing eleven portfolio acquisitions in 2011 in order to drive the growth and internationalisation of its investee businesses.
Located in Edinburgh and London, Dunedin has a new investment team comprising 16 investment professionals with approximately 200 years of private equity experience between them.
Dunedin has more than £400m under management. This is managed on behalf of three limited partnership funds and a publicly quoted investment trust. These funds are backed by more than 20 institutional investors from the UK and Europe and, in the case of the investment trust, by over 5,000 institutional and individual shareholders.

WFEL (for more information see www.wfel.com )
WFEL was founded in 1915 (originally as the Fairey Aviation Company) and has been based in Stockport, near Manchester, for the last 77 years. The name WFEL is an abbreviation of Williams Fairey Engineering Ltd.

The factory at Stockport has been used to manufacture a variety of aircraft over the years including the Fairey Swordfish and the supersonic Fairey Delta FD1 and FD2 (the latter aircraft was a forerunner of Concorde and was the first aircraft to exceed 1,000 mph in level flight. It held the world air speed record (1,132 mph) for two years.

The company diversified into manufacturing hybrid helicopter/fixed wing aircraft in the 1950’s and subsequently into the manufacture of military bridges from the late 1960’s.
WFEL continues to support the Fairey Brass Band (an award winning brass band founded at WFEL in 1937), which still practices at the factory in Stockport.

The company also supports an expert aluminum welding school on site at WFEL – just one of a few such places in the UK – to train engineers in world leading aluminium welding techniques.

As a manufacturer, WFEL is conscious of its use of scarce resources. The company recycled some 187 tonnes of aluminum, 65 tonnes of steel and 28 tonnes of stainless steel last year.

About Krauss-Maffei Wegmann GmbH
Krauss-Maffei Wegmann GmbH & Co. KG leads the European market for highly protected wheeled and tracked vehicles. At locations in Germany, Brazil, Greece, Mexico the Netherlands, Singapore, the USA and Turkey, some 3,200 employees develop, manufacture and support a product portfolio ranging from air-transportable, highly protected wheeled vehicles through reconnaissance, antiaircraft and artillery systems to main battle tanks, infantry fighting vehicles and bridge-laying systems. In addition, KMW has wide ranging system competence in the area of civil and military simulation, as well as in command and information systems and remote-controlled weapon stations with reconnaissance and observation equipment for day and night missions. The armed forces of more than 30 nations worldwide rely on tactical systems by KMW.
www.kmweg.de