03.10.2005 12:30:00
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ICG Announces Completion of Sale of LinkShare Corporation to Rakuten, Inc.
ICG's share of the cash proceeds was $136 million. In addition,proceeds of $14 million were placed in escrow for one year. ICGrecorded an after-tax gain of approximately $101 million. The releaseof any proceeds from escrow in 2006 will result in an additional gain.
About Internet Capital Group
Internet Capital Group (www.internetcapital.com) owns and buildsInternet software companies that drive business productivity andreduce transaction costs between firms. Founded in 1996, ICG devotesits expertise and capital to maximizing the success of these platformcompanies that are delivering on-demand software and serviceapplications to customers worldwide.
About LinkShare Corporation
LinkShare Corporation is a leading provider of technologysolutions to track, manage, and analyze the performance of sales,marketing, and business development initiatives. Combining patentedtechnology, the reach and distribution of a robust network, and expertaccount management services, LinkShare empowers clients with theability to collaborate with partners online and develop cost-efficientpay-for-performance campaigns. In 2004, approximately 2% of U.S.retail e-commerce, or $1.4 billion, passed through the LinkSharenetwork. LinkShare provides the platform, tools, and reporting to helpclients acquire new customers, increase revenues, drive results, andmeasure success across affiliate, search, and e-mail initiatives.LinkShare clients are Fortune 500 and prominent companies doingbusiness online, and include J.C. Penney, 1-800-Flowers.com, AmericanExpress, Avon Products and Dell. LinkShare was founded in 1996 and isheadquartered in New York City, with offices in San Francisco, Denver,and Chicago.
LinkShare's investors include Mitsui & Co., Ltd. (NASDAQ:MITSY),Mitsui & Co. (U.S.A), Inc., Internet Capital Group (NASDAQ:ICGE), andComcast Interactive Capital, an affiliate of Comcast Corporation(NASDAQ:CMCSK; CMCSA). Please visit http://www.linkshare.com for moreinformation.
About Rakuten, Inc.
Rakuten, Inc., is a leading Internet portal in Japan, bringing awide range of services to consumers through its main divisioncompanies in E-Commerce (EC), Portal and Media, Travel, FinancialServices, and Professional Sports.
The EC company provides a general on-line market for consumers,on-line auctions, and a place for B2B trade in used goods. The Portaland Media company offers Internet search and marketing services, jobsearch, and satellite TV channels. On-line hotel and international airreservations can be done through the Travel company, and the FinancialServices company houses Rakuten Securities, one of Japan's strongeston-line brokerage services, and also provides personal financialservices. Lastly, Rakuten is the proud owner of a professionalbaseball team -- the Rakuten Golden Eagles.
Rakuten is a public company listed on the JASDAQ with a marketcapitalization as of September 5, 2005 of $9.7 billion.
Safe Harbor Statement under Private Securities Litigation ReformAct of 1995
The statements contained in this press release that are nothistorical facts are forward-looking statements that involve certainrisks and uncertainties including but not limited to risks associatedwith the uncertainty of future performance of our partner companies,acquisitions or dispositions of interests in partner companies, theeffect of economic conditions generally, capital spending by customersand development of the e-commerce and information technology markets,and uncertainties detailed in the Company's filings with theSecurities and Exchange Commission. These and other factors may causeactual results to differ materially from those projected.
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