| Background |
| Inlumen, Inc. was founded by a team of experienced technologists who set out to develop and market one of the first news and alerting engines capable of delivering personalized real-time news to traders’ desktops. In 1996, the Company became one of the pioneer news providers on the web. In 1999, control of the Company was acquired by a group of strategic and financial investors, who invested over $40 million to strengthen its infrastructure. However, with the tech crash of 2000 organic growth began to slow. (Many of the Company’s customers were wiped out). Sales prospects were made more challenging with the subsequent slowdown in the financial services industry following 9/11/01 (the Company’s other core target market). In 2002 the investors engaged M&A to provide strategic and financial advice. |
| Overiew of Transaction |
- On October 29, 2002 ScreamingMedia, acquired the operating assets of Inlumen Inc. The purchaser simultaneously renamed the entire Company “Pinnacor” (NASDAQ: PCOR). The acquisition allowed Pinnacor to take advantage of the advance technology developed by Inlumen, while at the same time giving Inlumen’s customers and employees a transition path to a larger company with a broader product set. Later Pinnacor itself became part of Dow Jones / MarketWatch.
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| M&A Role |
- M&A was the exclusive strategic and financial advisor to Inlumen.
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Press Release |
