Rawnoc
14 years ago
Answers.com Agrees to be Acquired for $127 Million in Cash: $10.50 per Share
NEW YORK--(BUSINESS WIRE)-- Answers.com, (NASDAQ:ANSW - News), creators of the leading answer engine Answers.com®, today announced that it has entered into a definitive merger agreement to be acquired by AFCV Holdings, LLC, a portfolio company of growth equity investor Summit Partners, for a total cash consideration of approximately $127 million. AFCV will acquire all outstanding shares of Answers.com common stock, Series A convertible preferred stock and Series B convertible preferred stock. Under the terms of the agreement, Answers.com common stock shareholders will receive $10.50 in cash for each outstanding share of common stock they own. The holders of Series A and Series B convertible preferred stock will also be entitled to receive cash consideration based on the number of the common stock into which those shares are convertible at the time of the merger.
"This is a great outcome for our shareholders,โ said Bob Rosenschein, Founder, Chairman and CEO. โAfter an exciting six years as a public company, we are very pleased to achieve considerable value for our investors. The acquisition price of $10.50 per share represents a significant cash premium of approximately 33% over our 90-day volume-weighted average closing stock price."
Mr. Rosenschein continued, โThis agreement is also a positive for our community members. The integrity and commitment of our company to our products remain unchanged, as we continue our mission of creating the ultimate destination for answers."
The board of directors of Answers.com has unanimously approved the merger with AFCV Holdings, LLC and recommends that the stockholders of Answers.com vote to adopt the merger agreement. Answers.com expects to hold a special meeting of stockholders to consider and vote on the proposed merger and merger agreement as soon as practicable after the mailing of the proxy statement to its stockholders.
The transaction has fully committed financing and is expected to close in the second quarter of 2011, subject to the satisfaction of customary closing conditions, including the approval of Answers.com stockholders and receipt of regulatory clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.
UBS Investment Bank is acting as exclusive financial advisor and Kramer, Levin, Naftalis & Frankel, LLC as legal advisor to Answers.com. Jefferies & Company, Inc. is serving as financial advisor and Wilson Sonsini Goodrich & Rosati, Professional Corporation as legal advisor to AFCV Holdings.
About Answers
Answers Corporation (NASDAQ:ANSW - News) owns and operates Answers.com, the leading Q&A site. Answers.com is a community-generated social knowledge Q&A platform, leveraging wiki-based technologies. Through the contributions of its large and growing community, answers are improved and updated over time. The award-winning Answers.com also includes content on millions of topics from over 250 licensed dictionaries and encyclopedias from leading publishers, including Houghton Mifflin, Barron's and Encyclopedia Britannica. The site supports English, French, Italian, German, Spanish, and Tagalog (Filipino). (answ-f)
Answers.com is a trademark of Answers Corporation. All other marks belong to their respective owners.
About AFCV Holdings, LLC
AFCV Holdings, LLC, a portfolio company of growth equity investor Summit Partners, was established in 2007 to build, acquire, and operate a broad range of independent Internet technologies, businesses, and resources that connect consumers seeking advice with the most relevant and comprehensive content from both experts and consumer communities.
Additional Information and Where to Find It
Answers.com intends to file with the Securities and Exchange Commission a preliminary proxy statement and a definitive proxy statement and other relevant materials in connection with the merger. The definitive proxy statement will be sent or given to the stockholders of Answers.com. Before making any voting or investment decision with respect to the merger, stockholders are urged to read the proxy statement and the other relevant materials when they become available because they will contain important information about the merger. The proxy statement and other relevant materials (when they become available), and any other documents filed by Answers.com with the SEC, may be obtained free of charge at the SEC's website at www.sec.gov or at Answersโ website at http://ir.answers.com/sec.cfm. In addition, stockholders may obtain free copies of the documents filed with the SEC by contacting The Blueshirt Group at (212) 551-1453.
Participants in the Solicitation
Answers.com and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Answers.com in connection with the merger. Information about the directors and executive officers of Answers.com is set forth in its proxy statement on Schedule 14A filed with the SEC on July 27, 2010 and Answers.comโs Annual Report on Form 10-K filed on March 8, 2010 and subsequent amendments. Additional information regarding the interests of participants in the solicitation of proxies in connection with the merger will be included in the proxy statement that Answers.com intends to file with the SEC.
Forward-looking Statements
This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties with respect to the consummation of the transaction. Such risks include the failure to satisfy the conditions of the proposed transaction, including failure to obtain the required approvals of Answers.com stockholders or certain third party consents and certain adverse changes to the business of Answers.com as a result of factors detailed from time to time in reports filed with the SEC; the failure of the committed financing for the transaction; and potential litigation risks.
Contact:
For Answers.com:Investors:The Blueshirt GroupBrinlea Johnson, 212-551-1453Brinlea@blueshirtgroup.comorPress:Horn GroupKarl Pawlewicz, 646-202-9778kpawlewicz@horngroup.comorFor AFCV Holdings, LLC:ICRMichael Fox, 203-682-8218Michael.Fox@icrinc.com
ChangeDirector
14 years ago
Here's another really super duper informative answer from 2 days ago. So glad they asked.
Maybe they should change their name to "we have no freaking idea dot com"?
How did the Oscar get its name? There are a few stories as to how the Academy Award statuette came to be called Oscar:
? Margaret Herrick, the librarian and executive director of the Academy of Motion Picture Arts and Sciences, said that the statuette reminded her of her Uncle Oscar.
? Bette Davis claimed she noted aloud the resemblance of Oscar's backside to that of her husband, Harmon Oscar Nelson.
? The first documented mention of the name was in 1934, when columnist Sidney Skolsky referred to Katharine Hepburn's first Best Actress Oscar. He says he was tired of writing "the Golden Statue of the Academy," and fell back on the name Oscar from an old vaudeville joke he had heard.
However it got its name, the movie industry's most famous trophy will be awarded tonight to this year's winners, as ABC-TV broadcasts the 82nd Academy Awards. Steve Martin and Alec Baldwin, co-stars of the romantic comedy It's Complicated, will co-host the show.
ChangeDirector
14 years ago
Nah, nobody is interested in "answers dot com" except as it shows up in internet search results for no reason, with useless information, and consistently quoting wikipedia.
Anybody who thinks people are interested in asking questions and getting answers from teenagers who get points for them is seriously wrong in the head.
Here's today's "Answer of the day".
It's "Do vampires really exist? Are they one more thing to worry about?" LOL well I guess stupid people gravitate to stupidity.
http://www.answers.com/topic/wednesday-march-10-2010-from-today-s-highlights-archive
Answer of the Day
Do vampires really exist? Are they one more thing to worry about? It depends on whom you ask. Vampires have long been a part of the folklore of certain areas, particularly in parts of Eastern Europe. Made famous in modern times by Bram Stoker's Dracula, vampires were betrayed as horrific characters who terrorized the townspeople, rising at night to suck the blood of their victims, thus turning the victims into vampires, too. Stories also exist of people having witnessed the aftermath of a vampire attack. Nowadays, books, movies and TV are filled with vampires and werewolves, and some, such as Twilight's Edward Cullen, are even sympathetic characters. On this date in 1997, Buffy the Vampire Slayer premiered on TV, mixing wit, teenage angst and B-movie drama in a popular series about a high-school student who is chosen to slay the vampires that inhabit her town.
Quote
"I have never met a vampire personally, but I don't know what might happen tomorrow." โ Bela Lugosi
^^^^
And here's a good one, the first link below the article under "Learn More":
How are you this wednesday?
In: Calendar [Edit categories]
NJ Children's Museum
Fabulous Class Trip Perfect for Daycare thru 1st Grade
www.njcm.com
[Improve]
Thank you for asking. I am dying slowly with emphysema.
Edmonton Fringe Festival
Rawnoc
15 years ago
Answers.comโs WikiAnswers Ranked 2nd Fastest Growing U.S. Domain in 2009
Answers Corporation (NASDAQ: ANSW), creators of the leading answer engine Answers.com®, which includes the properties WikiAnswers® and ReferenceAnswersโข, announced today that according to comScore data (comScore, U.S. top 50 Web Domains Report, December 2008 vs. December 2009 by % change), WikiAnswersโ unique monthly visitor count in the U.S. grew 74%(*). This ranks WikiAnswers as the 2nd fastest growing domain in 2009, second only to Facebook.com, of the top 50 U.S. domains in December 2008.
โThe solid results for the quarter and full year we reported on Monday are primarily a consequence of the considerable growth generated by WikiAnswers, our community-driven Q&A platform,โ remarked Robert S. Rosenschein, Chairman and CEO of Answers.com. โThe siteโs unique self- reinforcing growth coupled with the efforts of the entire Answers.com team, have once again brought Answers.com to the culmination of a very successful year.โ * comScore information based on panel-only data for comparisons of growth.
About Answers Corporation Answers Corporation (NASDAQ: ANSW) owns and operates Answers.com, the leading Q&A site, which includes WikiAnswers and ReferenceAnswers. The site supports English, French, Italian, German, Spanish, and Tagalog (Filipino). WikiAnswers is a community-generated social knowledge Q&A platform, leveraging wiki-based technologies. Through the contributions of its large and growing community, answers are improved and updated over time. The award-winning ReferenceAnswers includes content on millions of topics from over 250 licensed dictionaries and encyclopedias from leading publishers, including Houghton Mifflin, Barron's and Encyclopedia Britannica. (answ-g) For investor information, visit http://ir.answers.com.
Follow www.Answers.com on Twitter as http://twitter.com/answersdotcom.