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	<title>Covert &#38; Co</title>
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	<link>http://www.covertandco.com</link>
	<description>Investment Banking</description>
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		<title>LA CEOs Event: Kevin Covert to Share Insights on Achieving Home-Run M&amp;A &amp; Financing Outcomes</title>
		<link>http://www.covertandco.com/misc/la-ceos-event-kevin-covert-to-share-insights-on-achieving-home-run-ma-financing-outcomes/</link>
		<comments>http://www.covertandco.com/misc/la-ceos-event-kevin-covert-to-share-insights-on-achieving-home-run-ma-financing-outcomes/#comments</comments>
		<pubDate>Tue, 01 May 2012 17:55:04 +0000</pubDate>
		<dc:creator>covert</dc:creator>
				<category><![CDATA[misc]]></category>

		<guid isPermaLink="false">http://www.covertandco.com/?p=3127</guid>
		<description><![CDATA[Investment Banking veteran Kevin Covert will share insights into achieving home-run M&#38;A and financing outcomes for digital media and technology companies. He will discuss current M&#38;A and VC financing market dynamics, acquisition and financing interests of the large media and tech buyers and how to&#8230;]]></description>
			<content:encoded><![CDATA[<p>Investment Banking veteran <strong>Kevin Covert</strong> will share insights into achieving home-run M&amp;A and financing outcomes for digital media and technology companies. He will discuss current M&amp;A and VC financing market dynamics, acquisition and financing interests of the large media and tech buyers and how to get on their radar. He will illustrate the “Art of M&amp;A” based on actual transactions and highlight common mistakes.</p>
<p><a href="http://laceos52012.eventbrite.com/" target="_blank">http://laceos52012.eventbrite.com/</a></p>
]]></content:encoded>
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		<title>DTS to Acquire SRS Labs in Cash-and-Stock Transaction</title>
		<link>http://www.covertandco.com/news/dts-to-acquire-srs-labs-in-cash-and-stock-transaction/</link>
		<comments>http://www.covertandco.com/news/dts-to-acquire-srs-labs-in-cash-and-stock-transaction/#comments</comments>
		<pubDate>Tue, 17 Apr 2012 15:56:16 +0000</pubDate>
		<dc:creator>covert</dc:creator>
				<category><![CDATA[All Transactions]]></category>
		<category><![CDATA[Information Technology Transactions]]></category>
		<category><![CDATA[Internet Media Transactions]]></category>
		<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://www.covertandco.com/?p=3105</guid>
		<description><![CDATA[Combination Accelerates Growth in Rapidly Growing Mobile and Other Network-Connected Markets Brings Together Leaders in Codec Solutions and Audio Processing Transaction Expected to be Accretive to DTS by 2013 SANTA ANA, Calif. &#038; CALABASAS, Calif.&#8211;(BUSINESS WIRE)&#8211;DTS, Inc. (Nasdaq: DTSI), a leader in high-definition audio, and&#8230;]]></description>
			<content:encoded><![CDATA[<p><strong>Combination Accelerates Growth in Rapidly Growing Mobile and Other Network-Connected Markets</strong></p>
<p><strong>Brings Together Leaders in Codec Solutions and Audio Processing</strong></p>
<p><strong>Transaction Expected to be Accretive to DTS by 2013</strong></p>
<p>SANTA ANA, Calif. &#038; CALABASAS, Calif.&#8211;(BUSINESS WIRE)&#8211;DTS, Inc. (Nasdaq: DTSI), a leader in high-definition audio, and SRS Labs, Inc. (Nasdaq: SRSL), a leader in audio processing and enhancement technologies, today announced that they have entered into a definitive agreement under which DTS will acquire all outstanding shares of SRS Labs in a cash-and-stock transaction valued at $9.50 per share, or a total of approximately $148 million in aggregate equity value, including acquired net cash of approximately $38 million as of December 31, 2011. The consideration represents a premium of 38% per share over SRS Labs&#8217; stock price as of the close of trading on April 16, 2012. Under the terms of the agreement, the cash and stock components will each equal 50% of the aggregate consideration paid by DTS for SRS Labs&#8217; outstanding shares. The DTS common stock to be issued in the transaction was valued at $30.52 per share, the closing price per share of DTS common stock on April 12, 2012. All SRS Labs options and restricted stock units will fully vest immediately prior to and be canceled upon the closing of the transaction, and the holders thereof will be entitled to receive the $9.50 price per share (less the exercise price of any option) payable in cash.</p>
<p>The transaction combines two highly complementary product and technology portfolios, bringing together DTS&#8217; suite of audio solutions and SRS Labs&#8217; range of audio processing technologies. Through the transaction, DTS will expand its already sizeable portfolio of audio-related intellectual property, creating one of the broadest in the industry with over 1,000 registered and pending patents and trademarks. The combination accelerates DTS&#8217; strategy to provide customers with a best-in-class, comprehensive integrated suite of audio solutions ranging from voice processing through audio rendering, and from low bit rate applications to high-quality lossless audio delivery. The combination is anticipated to fast-track DTS&#8217; expansion in the rapidly growing markets for mobile and other network-connected devices, while significant operating, customer and licensing cost efficiencies are expected to be realized.</p>
<p>&#8220;This transaction represents an exciting extension of our strategic focus on the compelling long-term opportunities being driven by cloud-based entertainment delivery and the proliferation of connected devices, enabling DTS to accelerate our expansion in the key growth areas of mobile and other network-connected device markets, as well as to drive innovation and create significant near- and long-term value for our shareholders,&#8221; said Jon Kirchner, DTS&#8217; chairman and CEO. &#8220;SRS Labs and its strong portfolio of audio processing technologies are a natural strategic fit for DTS, with complementary technologies, robust anticipated customer synergies, and significant economies of scale. This transaction will accelerate DTS&#8217; delivery of compelling end-to-end solutions to a broad base of customers, enable even higher levels of service, and provide the Company with a solid platform for continued growth.&#8221;</p>
<p>&#8220;We are pleased to provide our shareholders an attractive premium,&#8221; said Thomas C.K. Yuen, SRS Labs&#8217; chairman, CEO and president. &#8220;As consumers increasingly demand higher quality audio experiences everywhere from their mobile devices to their homes, this combination benefits our customers and employees by creating significant scale and penetrating new markets. We look forward to making the collective resources of a larger company available to our customers around the world, who will also benefit from superior customer service.&#8221;</p>
<p>DTS expects the transaction to be accretive on a GAAP basis by 2013, supported by at least $8 million in estimated annual combined cost synergies. Combined pro forma revenue for the Company for the fiscal year ended December 31, 2011 was $129.8 million.</p>
<p><strong>Transaction Details</strong></p>
<p>Under the terms of the agreement, SRS Labs shareholders may elect to receive either $9.50 per share in cash or a fixed ratio of 0.31127 shares of DTS common stock for every share of SRS Labs common stock they own, subject to proration and adjustment as described in the definitive agreement. The cash and stock components will each equal 50% of the aggregate consideration paid for SRS Labs common stock, with shares of DTS valued at $30.52 per share for purposes of this calculation. DTS expects to finance the cash portion of acquisition through a combination of existing cash balances and a new credit facility. The transaction is not subject to any financing conditions.</p>
<p>Thomas C.K. Yuen, and certain of his family members and affiliates, who together hold approximately 20% of the outstanding SRS Labs shares, have entered into a Voting Agreement with DTS pursuant to which they have committed to vote all of the shares of SRS Labs common stock held by them in favor of the proposed transaction.</p>
<p>The acquisition is the result of a comprehensive process undertaken by SRS Labs&#8217; board of directors which included seeking and considering competing offers. The board, advised by legal and financial advisors, unanimously concluded that DTS&#8217; offer was in the best interests of SRS Labs and its shareholders. The transaction has been unanimously approved by the board of directors of each company and is subject to customary closing conditions, including review by U.S. regulators and approval by SRS Labs shareholders. DTS anticipates closing the transaction in the third quarter of 2012. Upon closing, Thomas C.K. Yuen is expected to join the DTS board of directors.</p>
<p><strong>Advisors</strong></p>
<p>Centerview Partners LLC acted as financial advisor and DLA Piper LLP and Gibson, Dunn &#038; Crutcher LLP acted as legal advisors to DTS. <strong>Covert &#038; Co.</strong> acted as financial advisor and Paul Hastings LLP acted as legal advisor to SRS Labs.</p>
<p><strong>About DTS, Inc.</strong></p>
<p>DTS, Inc. (DTSI) is dedicated to making digital entertainment exciting, engaging and effortless by providing state-of-the-art audio technology to hundreds of millions of DTS-licensed consumer electronics products worldwide. From a renowned legacy as a pioneer in multi-channel audio, DTS became a mandatory audio format in the Blu-ray Disc(TM) standard and is now increasingly deployed in enabling digital delivery of movies and other forms of digital entertainment on a growing array of network-connected consumer devices. DTS technology is in home theaters, car audio systems, PCs, game consoles, DVD players, televisions, digital media players, set-top boxes, smart phones, surround music software and every device capable of playing Blu-ray(TM) discs. Founded in 1993, DTS&#8217; corporate headquarters are located in Calabasas, California with its licensing operations headquartered in Limerick, Ireland. DTS also has offices in Silicon Valley, Washington, China, France, Hong Kong, Japan, South Korea, Taiwan, Singapore, and the United Kingdom. For further information, please visit <a href="http://dts.com">www.dts.com</a>.</p>
<p><strong>About SRS Labs, Inc.</strong></p>
<p>Founded in 1993, SRS Labs (SRSL) is an industry leader in audio signal processing for consumer electronics across the four screens: TV; PC; Mobile Phones; and Automotive Entertainment Systems. Beginning with the audio technologies originally developed at Hughes Aircraft, SRS Labs holds approximately 150 worldwide registered and pending patents and is recognized by the industry as an authority in research and application of audio post processing technologies based on the human auditory principles. Through partnerships with leading global CE companies, semiconductor manufacturers, software developers, and content aggregators, SRS Labs is recognized as a leader in audio enhancement, surround sound, volume leveling, audio streaming, and voice processing technologies. SRS Labs solutions have been included in nearly two billion electronic products sold worldwide including flat panel HDTVs, AV products, STBs, PCs, mobile phones, and automotive entertainment and telematics systems. For more information, visit <a href="http://srslabs.com">www.srslabs.com</a></p>
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		<title>Avira Acquires SocialShield</title>
		<link>http://www.covertandco.com/all-transactions/avira-acquires-socialshield/</link>
		<comments>http://www.covertandco.com/all-transactions/avira-acquires-socialshield/#comments</comments>
		<pubDate>Thu, 29 Mar 2012 15:07:22 +0000</pubDate>
		<dc:creator>covert</dc:creator>
				<category><![CDATA[All Transactions]]></category>
		<category><![CDATA[Internet Media Transactions]]></category>

		<guid isPermaLink="false">http://www.covertandco.com/?p=3075</guid>
		<description><![CDATA[Top-Rated Social Monitoring Service to Be Incorporated into Avira’s Free Security Products SAN BRUNO, Calif. &#038; TETTNANG, Germany, Mar 29, 2012 (BUSINESS WIRE) &#8212; Security expert Avira announced today that it has acquired SocialShield®, the top-rated parental monitoring service for keeping children and teens safe&#8230;]]></description>
			<content:encoded><![CDATA[<p><strong>Top-Rated Social Monitoring Service to Be Incorporated into Avira’s Free Security Products </strong></p>
<p>SAN BRUNO, Calif. &#038; TETTNANG, Germany, Mar 29, 2012 (BUSINESS WIRE) &#8212; Security expert Avira announced today that it has acquired SocialShield®, the top-rated parental monitoring service for keeping children and teens safe while using social networks. </p>
<p>Avira will incorporate SocialShield’s social network monitoring technology into Avira’s free security product portfolio. </p>
<p>“It is Avira’s mission that our users feel free to make new friends, share pictures, and conduct business on the Web without worries or concerns about their safety,” said Travis Witteveen, COO Markets &#038; Operations of Avira. “Avira is broadening our security focus from safe-guarding computers to now protecting the people who use them, and that requires us to look beyond viruses and worms and Trojans. The acquisition of SocialShield not only brings child safety technology into Avira’s portfolio, but it also enhances our knowledge of social networking security and our awareness of the risks within the ‘cloud’,” said Sascha Beyer, COO Products &#038; Technology of Avira. </p>
<p>SocialShield scans, analyzes and alerts parents to suspicious activity on social networks like Facebook, Twitter, Formspring, MySpace, Google+ and others. The service has won numerous technology industry endorsements as well as two Congressional Recognition awards for its role in online child safety. </p>
<p>“We are thrilled to become a part of Avira,” said George Garrick, President and CEO of SocialShield. “Avira has an exciting and highly complementary existing product line and future roadmap that merges well with ours, and there is also a great fit of corporate culture and vision. With Avira’s existing user footprint, this merger will rapidly accelerate SocialShield’s product leadership as well as give us an entre into many new countries.” </p>
<p><strong>About SocialShield </strong></p>
<p>SocialShield® is the leading Social Network monitoring service, helping parents to keep their kids safe on social networks. SocialShield has won numerous industry awards for its best of breed product which is comprehensive yet easy-to-use; its patent-pending technology alerts parents of questionable activity on their child&#8217;s social networks so they can feel comfortable about who their children interact with online, what photos and conversations are being posted by their friends, and what content they are being exposed to. SocialShield empowers parents with the information they need to extend their parenting practices from the physical to the Social Network world. </p>
<p><strong>About Avira </strong></p>
<p>Avira stands for extreme reliability and Internet freedom around the globe. </p>
<p>The company was founded 25 years ago on Tjark Auerbach&#8217;s promise to &#8220;make software that does good things for my friends and family&#8221;. Because of Avira&#8217;s security expertise and award-winning antivirus software, today more than 100 million consumers and small businesses live free of spyware, phishing, worms and other internet based threats. The company delivers IT-security protection to computers, servers and networks both directly and in the cloud. </p>
<p>In addition to protecting the online world, Avira&#8217;s CEO promotes well being in the offline world through the Auerbach Foundation, which supports charitable and social projects. The philosophy of the foundation is to help people to help themselves. </p>
<p>For more information, please visit <a href="http://avira.com">www.avira.com</a>.</p>
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		<title>Financial Outlook 2012 Event: Michael Metzger to moderate expert panel</title>
		<link>http://www.covertandco.com/news/financial-outlook-2012-event-michael-metzger-to-moderate-expert-panel/</link>
		<comments>http://www.covertandco.com/news/financial-outlook-2012-event-michael-metzger-to-moderate-expert-panel/#comments</comments>
		<pubDate>Wed, 11 Jan 2012 03:30:53 +0000</pubDate>
		<dc:creator>covert</dc:creator>
				<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://www.covertandco.com/?p=3023</guid>
		<description><![CDATA[The German American Business Association (GABA) is hosting its Annual Business and Financial Outlook Event to discuss the current state and the 2012 outlook of the economy, financial markets, trade, funding climate and real estate market both in the US and Europe.  The event will&#8230;]]></description>
			<content:encoded><![CDATA[<p>The German American Business Association (GABA) is hosting its <a href="https://s01.123signup.com/servlet/SignUpMember?PG=1532265182300&amp;P=15322651911423816200&amp;Info" target="_blank">Annual Business and Financial Outlook Event</a> to discuss the current state and the 2012 outlook of the economy, financial markets, trade, funding climate and real estate market both in the US and Europe.  The event will be held at Deutsche Bank&#8217;s West Coast Headquarters at 2029 Century Park East in Los Angeles, CA on Thursday, February 2 2012, from 6:15 PM to 10:00 PM.</p>
<p>The event includes a high-ranking panel to be moderated by <strong>Michael Metzger, Vice-Chair and Board Member of GABA.</strong></p>
<p>The expert panelists will provide their insight into what to expect for 2012 including:</p>
<ul>
<li>Macro-economic business climate outlook</li>
<li>Economic outlook for Los Angeles, California, the US and Europe</li>
<li>Residential and commercial real estate outlook</li>
<li>Stock market investments</li>
<li>Access to capital</li>
<li>Trade and currency exchange</li>
</ul>
<p>Introductions by:</p>
<p><a href="http://www.covertandco.com/wp-content/uploads/2012/01/20100127_WolfgangDrautz.jpg"><img class="alignleft size-full wp-image-3034" title="20100127_WolfgangDrautz" src="http://www.covertandco.com/wp-content/uploads/2012/01/20100127_WolfgangDrautz.jpg" alt="" width="84" height="108" /></a></p>
<p style="padding-left: 90px;"><strong>Wolfgang Drautz</strong>, Intro Speaker &#8211; Consul General of the Federal Republic of Germany, Los Angeles. Wolfgang Drautz has been Consul General of the Federal Republic of Germany in Los Angeles since 2009. Prior posts of his Foreign Service career include the Consulate General in Chicago, IL, and the embassies in Moscow, London and Brussels.</p>
<p style="padding-bottom: 1px;">
<p>Panelists include:</p>
<p><a href="http://www.covertandco.com/wp-content/uploads/2012/01/20100127_MichaelMetzger.jpg"><img class="alignleft size-full wp-image-3035" title="20100127_MichaelMetzger" src="http://www.covertandco.com/wp-content/uploads/2012/01/20100127_MichaelMetzger.jpg" alt="" width="84" height="108" /></a></p>
<p><strong>Michael Metzger</strong>, Moderator &#8211; Vice-Chair and Board Member of GABA in Southern California; Principal at Covert &amp; Co., an investment bank focused on digital media, Internet and technology. Previously, Michael advised Yahoo’s Mobile Marketing and Advertising group and held senior management and engineering positions at AT&amp;T, IBM and Mindspeed.</p>
<p><a href="http://www.covertandco.com/wp-content/uploads/2012/01/20100127_LarryAdam.jpg"><img class="alignleft size-full wp-image-3024" title="20100127_LarryAdam" src="http://www.covertandco.com/wp-content/uploads/2012/01/20100127_LarryAdam.jpg" alt="" width="84" height="108" /></a> <strong>Larry Adam</strong> &#8211; Managing Director and Chief Investment Strategist for Deutsche Bank Private Wealth Management in the U.S. He is also a member of Deutsche Bank’s Global Investment Committee and frequently appears on television shows such as CNBC and Bloomberg TV.</p>
<p style="padding-bottom: 2px;">
<p><a href="http://www.covertandco.com/wp-content/uploads/2012/01/Kevin_Klowden.jpg"><img class="alignleft size-full wp-image-3026" title="Kevin_Klowden" src="http://www.covertandco.com/wp-content/uploads/2012/01/Kevin_Klowden.jpg" alt="" width="84" height="108" /></a></p>
<p style="padding-left: 90px;"><strong>Kevin Klowden</strong> &#8211; Managing Economist at the Milken Institute, where he serves as director of the California Center. He studies demographic and spatial factors such as the distribution of resources, business and labor in a region, the effects of public policy on these factors, and the subsequent impact on regional economies.</p>
<p style="padding-bottom: 2px;">
<p><a href="http://www.covertandco.com/wp-content/uploads/2012/01/William_Quigley.jpg"><img class="alignleft size-full wp-image-3028" title="William_Quigley" src="http://www.covertandco.com/wp-content/uploads/2012/01/William_Quigley.jpg" alt="" width="84" height="108" /></a></p>
<p style="padding-left: 90px;"><strong>William Quigley</strong> &#8211; Managing Director at Clearstone Venture Partners. William focuses on the consumer Internet, wireless and enterprise markets and oversees portfolio companies including Xfire.com, Titan Gaming, AOptix Technologies, SoonR, Meru Networks, Novariant. Previously, he invested for Mid-Atlantic Venture Funds and was the Chief Financial Officer for Disney’s merchandise licensing division.</p>
<p><a href="http://www.covertandco.com/wp-content/uploads/2012/01/GaryToebben.jpg"><img class="alignleft size-full wp-image-3037" title="GaryToebben" src="http://www.covertandco.com/wp-content/uploads/2012/01/GaryToebben.jpg" alt="" width="84" height="108" /></a></p>
<p style="padding-left: 90px;"><strong>Gary Toebben</strong> &#8211; President &amp; CEO of the LA Area Chamber of Commerce. He oversees the workings of the Chamber, ensuring that the organization champions initiatives contributing to the economic prosperity and quality of life of the businesses and citizens of Los Angeles. He has served on the Mayor&#8217;s L.A. Economy &amp; Jobs Committee, the L.A. County Health Care Options Task Force and the City Council&#8217;s Business Retention &amp; Attraction Task Force.</p>
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		<title>Bloomberg TV Covers Covert &amp; Co. Reception &#8211; Menlo Park</title>
		<link>http://www.covertandco.com/news/covert-sf-reception-featured-on-bloomberg-tv/</link>
		<comments>http://www.covertandco.com/news/covert-sf-reception-featured-on-bloomberg-tv/#comments</comments>
		<pubDate>Tue, 01 Nov 2011 22:43:42 +0000</pubDate>
		<dc:creator>covert</dc:creator>
				<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://www.covertandco.com/?p=3010</guid>
		<description><![CDATA[Oct. 25 (Bloomberg) &#8212; Bloomberg TV&#8217;s Emily Chang discusses Google&#8217;s and Microsoft&#8217;s M&#038;A strategy after moderating a panel at the Rosewood Hotel hosted by Covert &#038; Co. (Source: Bloomberg) http://www.bloomberg.com/video/78910822/]]></description>
			<content:encoded><![CDATA[<p><script src="http://player.ooyala.com/player.js?embedCode=RmY2Z4MjrvWRqRbiE1hQKrqRGzH20Jgy&#038;height=360&#038;deepLinkEmbedCode=RmY2Z4MjrvWRqRbiE1hQKrqRGzH20Jgy&#038;video_pcode=oza2w6q8gX9WSkRx13bskffWIuyf&#038;autoplay=1&#038;width=640"></script></p>
<p>Oct. 25 (Bloomberg) &#8212; Bloomberg TV&#8217;s Emily Chang discusses Google&#8217;s and Microsoft&#8217;s M&#038;A strategy after moderating a panel at the Rosewood Hotel hosted by Covert &#038; Co. (Source: Bloomberg)</p>
<p><a href="http://www.bloomberg.com/video/78910822/">http://www.bloomberg.com/video/78910822/</a></p>
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		<title>Covert &amp; Co. Bay Area Private Reception</title>
		<link>http://www.covertandco.com/misc/covert-co-bay-area-private-reception/</link>
		<comments>http://www.covertandco.com/misc/covert-co-bay-area-private-reception/#comments</comments>
		<pubDate>Tue, 18 Oct 2011 01:59:22 +0000</pubDate>
		<dc:creator>covert</dc:creator>
				<category><![CDATA[misc]]></category>

		<guid isPermaLink="false">http://www.covertandco.com/?p=3003</guid>
		<description><![CDATA[Covert &#38; Co. hosted a private reception in the Bay Area on October 24 at the Rosewood Hotel that brought together 250 of the most influential people in technology and digital media. Emily Chang of Bloomberg TV hosted an exciting fireside chat with the Heads&#8230;]]></description>
			<content:encoded><![CDATA[<p><iframe src="http://player.vimeo.com/video/35281419?title=0&amp;byline=0&amp;portrait=0" width="640" height="360" frameborder="0" webkitAllowFullScreen mozallowfullscreen allowFullScreen></iframe></p>
<p>Covert &amp; Co. hosted a private reception in the Bay Area on October 24 at the Rosewood Hotel that brought together 250 of the most influential people in technology and digital media.</p>
<p><a href="http://www.bloomberg.com/personalities/emily_chang/" target="_blank">Emily Chang of Bloomberg TV</a> hosted an exciting fireside chat with the Heads of Corporate Development from some of today’s leading technology and media companies.</p>
<p style="padding-left: 30px;"><strong>Microsoft</strong>: Marc Brown –<em> Managing Director, Corporate Development</em></p>
<p style="padding-left: 30px;"><strong>Electronic Arts</strong>: Mike Foley – <em>Vice President, Head of Corporate Development</em></p>
<p style="padding-left: 30px;"><strong>eBay</strong>: Lorraine McDonough – <em>Vice President, Corporate Development</em><br />
<strong> </strong></p>
<p style="padding-left: 30px;"><strong>Google</strong>: Dave Sobota <em>– Director, Corporate Development</em></p>
<p>In addition to the above, other notable technology and media executives in attendance included CEOs, Venture Capital / Private Equity Partners, and Corporate Development directors from companies such as: Zynga, Facebook, Accel Partners, Sequoia Capital, Twitter, meebo, Storm8, Evernote, LinkedIn, Symantec, Venrock, Walt Disney, Ooyala, BlackArrow, Intel, Color Labs, Francisco Partners, Jaspersoft, Glam Media, Intuit, Summit Partners, and many others.</p>
<p>Join us on <a href="http://www.facebook.com/pages/Covert-Co/144891822237554" target="_blank">Facebook</a> or <a href="https://twitter.com/#!/CovertandCo" target="_blank">Twitter</a>.</p>
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		<title>Michael Metzger Receives M&amp;A Advisor&#8217;s 2nd Annual 40 Under 40 Award</title>
		<link>http://www.covertandco.com/news/michael-metzger-receives-ma-advisors-2nd-annual-40-under-40-award/</link>
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		<pubDate>Sun, 10 Jul 2011 17:38:19 +0000</pubDate>
		<dc:creator>covert</dc:creator>
				<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://www.covertandco.com/?p=2989</guid>
		<description><![CDATA[LOS ANGELES, July 1, 2011 – Covert &#038; Co. is pleased to announce that Michael Metzger has been chosen as one of 40 distinguished individuals under the age of 40 to be recognized with the M&#038;A Advisor&#8217;s 40 Under 40 Award. The M&#038;A Advisor, renowned&#8230;]]></description>
			<content:encoded><![CDATA[<p><img src="http://www.covertandco.com/wp-content/uploads/2011/07/MM_40under40.png" border="0" alt="" width="300" height="82" /></p>
<p><strong>LOS ANGELES, July 1, 2011</strong> – Covert &#038; Co. is pleased to announce that Michael Metzger has been chosen as one of 40 distinguished individuals under the age of 40 to be recognized with the M&#038;A Advisor&#8217;s 40 Under 40 Award. </p>
<p>The M&#038;A Advisor, renowned globally for its recognition of leading M&#038;A, financing and turnaround professionals, designed this award to promote mentorship and professional development amongst emerging business leaders. An independent judging panel of distinguished business leaders selected the winners from a pool of international nominees based on their accomplishments and expertise. </p>
<p>Mr. Metzger will accept his 40 Under 40 Award on July 26 at a televised black tie Awards Gala at The Hollywood Roosevelt Hotel in Los Angeles, CA. </p>
<p>Mr. Metzger is a Principal at Covert &#038; Co. and has over 15 years of technology investment banking and operations management experience. Previously, he was a Vice President at New Century Capital Partners and advised Yahoo’s Mobile Marketing and Advertising group. He has also held senior management and engineering positions at AT&#038;T, IBM and Mindspeed. He holds 5 patents in the field of Communications and also serves as Vice-Chair and Board Director of the German American Business Association (GABA) in Southern California. Mr. Metzger received an MSEE from the University of Ulm, Germany and his MBA from the Anderson School of Management at the University of California, Los Angeles.</p>
<p><strong>About Covert &#038; Co.</strong><br />
Covert &#038; Co. is a premium investment bank providing highly specialized M&#038;A and financing services to internet, media and technology companies globally. Covert &#038; Co. President, Kevin Covert, was previously co-founder of Montgomery and an investment banker at Credit Suisse First Boston and Salomon Brothers (now Citigroup).<br />
Covert &#038; Co. professionals have completed over 100 transactions over the past decade, including landmark M&#038;A transactions such as MusicMatch/Yahoo!, MySpace/News Corp., NevenVision/Google, DailyCandy/Comcast, Disney/Club Penguin; and equity financing transactions including Meebo, Realtime Worlds, LegalZoom, Wildtangent, and Move Networks.</p>
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		<title>Will LinkedIn’s IPO Open The Floodgates?</title>
		<link>http://www.covertandco.com/news/will-linkedin%e2%80%99s-ipo-open-the-floodgates/</link>
		<comments>http://www.covertandco.com/news/will-linkedin%e2%80%99s-ipo-open-the-floodgates/#comments</comments>
		<pubDate>Wed, 18 May 2011 20:36:23 +0000</pubDate>
		<dc:creator>covert</dc:creator>
				<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://www.covertandco.com/?p=2979</guid>
		<description><![CDATA[Tomio Geron &#124; May 18, 2011 LinkedIn is preparing to price its IPO Wednesday and begin trading on the NYSE Thursday, in what could be a very big day for the company as well as investors and other shareholders. Will the offering also open up&#8230;]]></description>
			<content:encoded><![CDATA[<p><img src="http://www.covertandco.com/wp-content/uploads/2011/05/News-Logo-Forbes_com.jpg" border="0" alt="" width="200" height="57" /></p>
<p><strong>Tomio Geron | May 18, 2011</strong></p>
<p>LinkedIn is preparing to price its IPO Wednesday and begin trading on the NYSE Thursday, in what could be a very big day for the company as well as investors and other shareholders.</p>
<p>Will the offering also open up a flood of new IPOs from Internet and social web companies that have been waiting for a “Netscape moment?”</p>
<p>LinkedIn upped its price range Tuesday to $42 – $45 from $32 – $35, a sign of what appears to be very strong demand for the IPO. At the top of the new range, LinkedIn would have a market cap of $4.25 billion.</p>
<p>LinkedIn will be the first social networking company to go public except for China-based Renren, which went out earlier this month, so it will set a public benchmark for the entire category. SecondMarket and Sharespost enable people to grab shares of companies like LinkedIn but up until now no company has gone public to prove that the prices trading on those platforms would stand up in public markets.</p>
<p>For Facebook, Zynga, Groupon, Pandora and others that are poised to test the public markets, a strong LinkedIn IPO will provide more confidence that they can move forward with their own offerings.</p>
<p>“I think it provides a lot of optimism, not just a little,” says Kevin Covert, founder of tech investment bank Covert &amp; Co.  “It really opens up the IPO market. When you look at all the IPOs lined up. Just that optimism hasn’t been around for a really long time–since the last tech bubble.”</p>
<p>The LinkedIn IPO will also be a boost for smaller start-ups with a social bent–which is virtually anything in Internet or mobile these days-whether they are seeking a venture round, an acquisition or just hope for the future, says Covert. From what I’ve been hearing about early stage financing, the deals will only get crazier from here.</p>
<p>“This will set a good benchmark for those other companies,” Covert said.</p>
<p>Bankers will be firing up their spreadsheets once LinkedIn officially prices, because they’ll have something to really compare to in the public markets, rather than unofficial secondary market valuations.</p>
<p>“That’s what every other IPO banker is going to point to when they file their IPOs,” Covert said. “They’ll use that for pricing and the performance afterwards.”</p>
<p>For start-ups, LinkedIn not only provides a high valuation benchmark, it also now will be flush with cash and a new major acquirer, Covert said.</p>
<p>In the past many had talked about Facebook being the first to go public and usher in a new wave of IPOs the way Google or Netscape once did. But LinkedIn could end up being that company.</p>
<p>The ironic thing is that LinkedIn makes money in a variety of different ways, whereas many social web companies rely purely on advertising. And with its business focus, LinkedIn is different in many ways from most of the consumer-oriented social web start-ups today.</p>
<p><a href="http://blogs.forbes.com/tomiogeron/2011/05/18/will-linkedins-ipo-open-the-floodgates/">http://blogs.forbes.com/tomiogeron/2011/05/18/will-linkedins-ipo-open-the-floodgates/</a></p>
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		<title>Covert &amp; Co. Advises Hearst on Partnership with News Corp. to Establish Industry Leader</title>
		<link>http://www.covertandco.com/misc/ugo-ign/</link>
		<comments>http://www.covertandco.com/misc/ugo-ign/#comments</comments>
		<pubDate>Fri, 06 May 2011 23:05:54 +0000</pubDate>
		<dc:creator>covert</dc:creator>
				<category><![CDATA[misc]]></category>

		<guid isPermaLink="false">http://www.covertandco.com/?p=2967</guid>
		<description><![CDATA[IGN Entertainment merges with UGO Entertainment SAN FRANCISCO and NEW YORK, May 5, 2011 – News Corporation’s IGN Entertainment today announced the acquisition of Hearst Corporation’s UGO Entertainment, an agreement that will create a clear leader in video games media. IGN Entertainment will now operate&#8230;]]></description>
			<content:encoded><![CDATA[<p><strong>IGN Entertainment merges with UGO Entertainment </strong></p>
<p>SAN FRANCISCO and NEW YORK, May 5, 2011 – News Corporation’s IGN Entertainment today announced the acquisition of Hearst Corporation’s UGO Entertainment, an agreement that will create a clear leader in video games media. IGN Entertainment will now operate its existing properties along with UGO.com, 1UP.com and UGO’s entire network of owned and affiliated properties. Together, the properties will reach a global audience of more than 70 million monthly visitors.</p>
<p>Under the terms of the agreement, Hearst Corporation will become a shareholder of IGN and will be an active participant in the development of the business.</p>
<p>“This instantly catapults us to another level and positions us to serve and entertain tens of millions more fans. We look forward to providing an even richer service for users and advertisers.  We are now actively considering a range of options to maximize IGN’s long-term value,” said Roy Bahat, president, IGN Entertainment.</p>
<p>“The combination of IGN and UGO will create the complete ‘go to’ online destination for video game enthusiasts. The breadth, depth and quality of the content available through these sites will be unparalleled. This is a terrific combination for our viewers and our advertisers,” said Ken Bronfin, president of Hearst Interactive Media.</p>
<p>IGN reaches nearly 40 million monthly visitors worldwide. UGO Entertainment properties—which include well-known gaming and entertainment sites 1UP.com and UGO.com—will add more than 30 million unique users to that total. They join IGN’s premium media sites, including gaming-related sites IGN.com, GameSpy, FilePlanet, Direct2Drive and TeamXbox; men’s lifestyle site AskMen; and IGN’s retail partner, GameStop.com. With this move, IGN broadens its spectrum of men’s entertainment content, allowing it to reach the highest concentration of men 18-34 online. Every month, IGN will reach one in four men online.</p>
<p>The addition of UGO’s properties expands IGN’s media lineup and suite of product offerings—online and on mobile devices—to its core audience of young males and the advertisers looking to reach them.  Already ranking #1 in video for all video game sites, this move allows IGN even more opportunities for video distribution.</p>
<p><strong>About News Corporation</strong></p>
<p>News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) had total assets as of December 31, 2010 of approximately US$57 billion and total annual revenues of approximately US$33 billion. News Corporation is a diversified global media company with operations in six industry segments: cable network programming; filmed entertainment; television; direct broadcast satellite television; publishing; and other. The activities of News Corporation are conducted principally in the United States, Continental Europe, the United Kingdom, Australia, Asia and Latin America.</p>
<p><strong>About IGN Entertainment </strong></p>
<p>IGN Entertainment, a unit of News Corporation, is the leading Internet media and services provider focused on the video game and entertainment enthusiast markets. Collectively, IGN&#8217;s properties reached more than 40 million unique users worldwide in February 2011, according to Internet audience measurement firm comScore. IGN&#8217;s network of video game-related properties (IGN.com, GameSpy, FilePlanet, TeamXbox, Direct2Drive and others) is the Web&#8217;s leading video game information destination. IGN also owns the leading men&#8217;s lifestyle website AskMen.com, and provides technology for online game play in video games. IGN is headquartered in the San Francisco Bay Area, with offices across North America, Europe and Australia. </p>
<p><strong>About Hearst Corporation</strong></p>
<p>Hearst Corporation (www.hearst.com) is one of the nation’s largest diversified media companies. Its major interests include ownership of 15 daily and 38 weekly newspapers, including the Houston Chronicle, San Francisco Chronicle, San Antonio Express-News and Albany Times Union; nearly 200 magazines around the world, including Good Housekeeping, Cosmopolitan and O, The Oprah Magazine; 29 television stations, which reach a combined 18% of U.S. viewers; ownership in leading cable networks, including Lifetime, A&#038;E, History and ESPN; as well as business publishing, including a minority joint venture interest in Fitch Ratings; Internet and marketing services businesses, television production, newspaper features distribution and real estate.</p>
<p><strong>About Covert &#038; Co.</strong></p>
<p>Covert &#038; Co. is a premium investment bank providing highly specialized M&#038;A and financing services to internet, media and technology companies globally.  Covert &#038; Co. President, Kevin Covert, was previously co-founder of Montgomery and an investment banker at Credit Suisse First Boston and Salomon Brothers (now Citigroup).  </p>
<p>Covert &#038; Co. professionals have completed over 100 transactions over the past decade, including landmark M&#038;A transactions such as MusicMatch/Yahoo!, MySpace/News Corp., NevenVision/Google, DailyCandy/Comcast, Disney/Club Penguin; and equity financing transactions including Meebo, Realtime Worlds, LegalZoom, Wildtangent, and Move Networks.</p>
]]></content:encoded>
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		<title>Covert &amp; Co. Advises Hearst on Partnership with News Corp. to Establish Industry Leader</title>
		<link>http://www.covertandco.com/news/ugo_hearst-newscorp_ign/</link>
		<comments>http://www.covertandco.com/news/ugo_hearst-newscorp_ign/#comments</comments>
		<pubDate>Fri, 06 May 2011 00:12:54 +0000</pubDate>
		<dc:creator>covert</dc:creator>
				<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://www.covertandco.com/?p=2957</guid>
		<description><![CDATA[IGN Entertainment merges with UGO Entertainment SAN FRANCISCO and NEW YORK, May 5, 2011 – News Corporation’s IGN Entertainment today announced the acquisition of Hearst Corporation’s UGO Entertainment, an agreement that will create a clear leader in video games media. IGN Entertainment will now operate&#8230;]]></description>
			<content:encoded><![CDATA[<p><strong>IGN Entertainment merges with UGO Entertainment </strong></p>
<p>SAN FRANCISCO and NEW YORK, May 5, 2011 – News Corporation’s IGN Entertainment today announced the acquisition of Hearst Corporation’s UGO Entertainment, an agreement that will create a clear leader in video games media. IGN Entertainment will now operate its existing properties along with UGO.com, 1UP.com and UGO’s entire network of owned and affiliated properties. Together, the properties will reach a global audience of more than 70 million monthly visitors.</p>
<p>Under the terms of the agreement, Hearst Corporation will become a shareholder of IGN and will be an active participant in the development of the business.</p>
<p>“This instantly catapults us to another level and positions us to serve and entertain tens of millions more fans. We look forward to providing an even richer service for users and advertisers.  We are now actively considering a range of options to maximize IGN’s long-term value,” said Roy Bahat, president, IGN Entertainment.</p>
<p>“The combination of IGN and UGO will create the complete ‘go to’ online destination for video game enthusiasts. The breadth, depth and quality of the content available through these sites will be unparalleled. This is a terrific combination for our viewers and our advertisers,” said Ken Bronfin, president of Hearst Interactive Media.</p>
<p>IGN reaches nearly 40 million monthly visitors worldwide. UGO Entertainment properties—which include well-known gaming and entertainment sites 1UP.com and UGO.com—will add more than 30 million unique users to that total. They join IGN’s premium media sites, including gaming-related sites IGN.com, GameSpy, FilePlanet, Direct2Drive and TeamXbox; men’s lifestyle site AskMen; and IGN’s retail partner, GameStop.com. With this move, IGN broadens its spectrum of men’s entertainment content, allowing it to reach the highest concentration of men 18-34 online. Every month, IGN will reach one in four men online.</p>
<p>The addition of UGO’s properties expands IGN’s media lineup and suite of product offerings—online and on mobile devices—to its core audience of young males and the advertisers looking to reach them.  Already ranking #1 in video for all video game sites, this move allows IGN even more opportunities for video distribution.</p>
<p><strong>About News Corporation</strong></p>
<p>News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) had total assets as of December 31, 2010 of approximately US$57 billion and total annual revenues of approximately US$33 billion. News Corporation is a diversified global media company with operations in six industry segments: cable network programming; filmed entertainment; television; direct broadcast satellite television; publishing; and other. The activities of News Corporation are conducted principally in the United States, Continental Europe, the United Kingdom, Australia, Asia and Latin America.</p>
<p><strong>About IGN Entertainment </strong></p>
<p>IGN Entertainment, a unit of News Corporation, is the leading Internet media and services provider focused on the video game and entertainment enthusiast markets. Collectively, IGN&#8217;s properties reached more than 40 million unique users worldwide in February 2011, according to Internet audience measurement firm comScore. IGN&#8217;s network of video game-related properties (IGN.com, GameSpy, FilePlanet, TeamXbox, Direct2Drive and others) is the Web&#8217;s leading video game information destination. IGN also owns the leading men&#8217;s lifestyle website AskMen.com, and provides technology for online game play in video games. IGN is headquartered in the San Francisco Bay Area, with offices across North America, Europe and Australia. </p>
<p><strong>About Hearst Corporation</strong></p>
<p>Hearst Corporation (www.hearst.com) is one of the nation’s largest diversified media companies. Its major interests include ownership of 15 daily and 38 weekly newspapers, including the Houston Chronicle, San Francisco Chronicle, San Antonio Express-News and Albany Times Union; nearly 200 magazines around the world, including Good Housekeeping, Cosmopolitan and O, The Oprah Magazine; 29 television stations, which reach a combined 18% of U.S. viewers; ownership in leading cable networks, including Lifetime, A&#038;E, History and ESPN; as well as business publishing, including a minority joint venture interest in Fitch Ratings; Internet and marketing services businesses, television production, newspaper features distribution and real estate.</p>
<p><strong>About Covert &#038; Co.</strong></p>
<p>Covert &#038; Co. is a premium investment bank providing highly specialized M&#038;A and financing services to internet, media and technology companies globally.  Covert &#038; Co. President, Kevin Covert, was previously co-founder of Montgomery and an investment banker at Credit Suisse First Boston and Salomon Brothers (now Citigroup).  </p>
<p>Covert &#038; Co. professionals have completed over 100 transactions over the past decade, including landmark M&#038;A transactions such as MusicMatch/Yahoo!, MySpace/News Corp., NevenVision/Google, DailyCandy/Comcast, Disney/Club Penguin; and equity financing transactions including Meebo, Realtime Worlds, LegalZoom, Wildtangent, and Move Networks.</p>
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