SAFEGUARD SCIENTIFICS ANNOUNCES PENDING ACQUISITION OF FLASHTALKING BY MEDIAOCEAN
July 13 2021 - 8:30AM
Safeguard Scientifics, Inc. (NYSE:SFE) (“Safeguard” or the
“Company”) today announced that Flashtalking signed a definitive
agreement to be acquired by Mediaocean. The combined entity will
leverage Flashtalking’s best-in-class solutions for primary ad
serving, creative personalization, identity management, and
verification with Mediaocean’s mission-critical platform for
omnichannel advertising used by the world’s leading brands and
agencies.
The transaction is expected to close in the third quarter of
2021. Upon closing, Safeguard expects to receive approximately $43
million of cash proceeds. Terms of the transaction were not
disclosed.
“We are excited about the pending acquisition of Flashtalking by
Mediaocean, which represents another meaningful step in our
strategy to monetize Safeguard’s ownership interests. We also want
to congratulate the Flashtalking team led by CEO John Nardone on
achieving this significant milestone and thank them for their hard
work and focused execution,” commented Safeguard CEO Eric C.
Salzman.
About Safeguard Scientifics Historically,
Safeguard Scientifics has provided capital and relevant expertise
to fuel the growth of technology-driven businesses. Safeguard has a
distinguished track record of fostering innovation and building
market leaders that spans more than six decades. Safeguard is
currently pursuing a focused strategy to value-maximize and
monetize its ownership interests over a multi-year time frame to
drive shareholder value. For more information, please visit
www.safeguard.com.
About MediaoceanMediaocean is the
mission-critical platform for omnichannel advertising. With more
than $200 billion in annualized media spend managed through its
software, Mediaocean connects brands, agencies, media, technology,
and data. Using AI and machine learning technology to control
marketing investments and optimize business outcomes, Mediaocean
powers campaigns from planning, buying, and selling to analysis,
invoices, and payments. Mediaocean employs 1,200 people across 20
global offices and is part of the Vista Equity Partners portfolio.
Visit www.mediaocean.com for more information.
About FlashtalkingFlashtalking is the leading
global independent primary ad server and analytics technology
company. We use data to personalize advertising in real-time,
independently analyze its effectiveness and enable optimization
that drives better engagement and return on spend for sophisticated
global brands. Our platform leads the market with innovative
products and services to ensure creative relevance and actionable
insights across channels and formats, powered by unique cookieless
tracking, data orchestration and advanced analytics. We support
clients at the crossroads where data, personalized creative and
unbiased measurement intersect with expertise, service and a deep
partner ecosystem to drive successful digital marketing.
Forward-looking StatementsExcept for the
historical information and discussions contained herein, statements
contained in this release may constitute “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Our forward-looking statements are subject to
risks and uncertainties. Forward-looking statements include, but
are not limited to, statements regarding Safeguard’s ability to
maximize the value of monetization opportunities of its ownership
interests and drive total shareholder returns. Safeguard’s
initiatives taken or contemplated to enhance and unlock value for
all of its shareholders, Safeguard’s efforts to execute on and
implement its strategy to streamline its organizational structure,
reduce its operating costs, pursue monetization opportunities for
ownership interests and maximize the return of value to its
shareholders, Safeguard’s ability to create, unlock, enhance and
maximize shareholder value, the effect of Safeguard’s management
succession plan on driving increased organizational effectiveness
and efficiencies, the ability of the management team to execute
Safeguard’s strategy, the availability of, the timing of, and the
proceeds that may ultimately be derived from the monetization of
ownership interests, Safeguard’s projections regarding the
reduction in its ongoing operating expenses, Safeguard’s
projections regarding annualized operating expenses and expected
severance expenses, monetization opportunities for ownership
interests, and the amount of net proceeds from the monetization of
ownership interests that will enable the return of value to
Safeguard shareholders after satisfying working capital needs and
the timing of such return of value. Such forward-looking statements
are not guarantees of future operational or financial performance
and are based on current expectations that involve a number of
uncertainties, risks and assumptions that are difficult to predict.
Therefore, actual outcomes and/or results may differ materially
from those expressed or implied by such forward-looking statements.
The risks and uncertainties that could cause actual results to
differ materially include, among others, our ability to make good
decisions about the monetization of our ownership interests for
maximum value or at all and the return of value to our
shareholders, our ability to successfully execute on our strategy
to streamline our organizational structure and align our cost
structure to increase shareholder value, whether our strategy will
better position us to focus our resources on the highest-return
opportunities and deliver enhanced shareholder value, the ongoing
support of our existing ownership interests, the fact that our
companies may vary from period to period, challenges to achieving
liquidity from our ownership interests, fluctuations in the market
prices of our publicly traded holdings, if any, competition, our
inability to obtain maximum value for our ownership interests, our
ability to attract and retain qualified employees, market
valuations in sectors in which our ownership interests operate, our
inability to control our ownership interests, our need to manage
our assets to avoid registration under the Investment Company Act
of 1940, risks, disruption, costs and uncertainty caused by or
related to the actions of activist shareholders, including that if
individuals are elected to our Board with a specific agenda, it may
adversely affect our ability to effectively implement our business
strategy and create value for our shareholders and perceived
uncertainties as to our future direction as a result of potential
changes to the composition of our Board may lead to the perception
of a change in the direction of our business, instability or a lack
of continuity that may adversely affect our business, and risks
associated with our ownership interests, including the fact that
most of our ownership interests have a limited operating history
and a history of operating losses, face intense competition and may
never be profitable, the effect of economic conditions in the
business sectors in which Safeguard’s companies operate, and other
uncertainties described in our filings with the Securities and
Exchange Commission. Many of these factors are beyond the Company’s
ability to predict or control. As a result of these and other
factors, the Company’s past operational and financial performance
should not be relied on as an indication of future performance. The
Company does not assume any obligation to update any
forward-looking statements or other information contained in this
press release.
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SAFEGUARD CONTACT:
Mark Herndon
Chief Financial Officer
(610) 975-4913
mherndon@safeguard.com
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