ICGE - MK 135 Mio. € - innerer Wert 700 Mio. € !
Core participations held by ICGE include the following:
26% of SeaPass, an online platform offering real time connections between insurance carriers, agents and brokers.
89% of GovDelivery, a platform for government-to-citizen communications solutions which doubled its subscription base to 15.6 million during 2009 and is now utilized by one half of US Federal agencies, state, county and municipal governments in 30 states, as well as several major United Kingdom government agencies.
64% of ICG Commerce, a procurement outsourcing platform which has shown revenue growth of 28% to over $81 million during 2009 and EBDITA growth from $7.6 million to $13.4 million during the same period.
33% of Metastorm, a Business Process Management software and services provider with over $19 million of bookings in the 4th quarter of 2009 that counts the United States Air Force among its clients.
50% of Channel Intelligence, a leading provider of performance advertising services for manufacturers and retailers. Channel´s revenues increased 24% during 2009, and includes among its clients one third of the ¨Internet Retailer¨ Top 50.
36% of StarCite, an on-demand global meetings solutions platform which increased 4th quarter books by 40% to $25 million as compared to the same quarter in 2008. The company counts Hilton Worldwide (HLT) among its suppliers and several Fortune 500 companies among its clients.
31% of freeborders, a global provider of information technology solutions delivered from China utilizing low cost but highly skilled Chinese software engineers.
81% of Investor Force, a leading provider of business solutions for the institutional investment management industry, currently serving 5 of the top 10 institutional investment consultants. Investor Force doubled its revenue during 2009.
36% of WhiteFence, a leader in online transactions for home services such as telephone, internet access, television, electricity and natural gas. Consumers enter their address in the website for free recommendations on how to bundle their required services to obtain the best price from 400 nationally recognized partners to reduce their home services bills.
Internet Capital hält 33% an Metastorm.
Real-Time: 9.89 0.33 (3.45%) 9:40am ET
Last Trade: 9.56
Trade Time: Apr 8
Change: 0.00 (0.00%)
Prev Close: 9.56
Open: N/A
Bid: 9.56 x 100
Ask: 9.69 x 100
1y Target Est: 11.75
Day's Range: N/A - N/A
52wk Range: 4.11 - 9.92
Volume: 0
Avg Vol (3m): 241,532
Market Cap: 348.20M
P/E (ttm): 22.60
EPS (ttm): 0.42
Div & Yield: N/A (N/A)
http://seekingalpha.com/article/...-q1-2010-global-review?source=feed
Mit ICGCommerce und Metastorm hat Internet Capital zwei absoult ipo-reife Unternehmen und ICGCommerce gilt ja auch als einer der heißesten Kandidaten. Trotzdem gehe ich in beiden Fällen nicht von Ipo's aus, sondern ich vermute, dass man bei Verkäufen höhere Erlöse erzielen kann. Dafür kann mich mir im Fall von ICGCommerce auch eine Bezahlung in Aktien durch das übernehmende Unternehmen gut vorstellen, z.B. von Genpact. Wenn dieser Deal mit Genpact in diesem Jahr zustände käme, würde das vielleicht die Chancen mindern, aber durch die Aktien von Genpact käme noch mehr Sicherheit in das Konstrukt Internet Capital. Bei Metastorm kann ich mir dagegen durchaus auch einen Cashverkauf an ein Unternehmen wie Oracle vorstellen. Die Verkäufserlöse aus den 64% an ICGCommerce und den 33% aus Metastorm taxiere ich auf 350 bis 450 Millionen Dollar.
http://www.smartmoney.com/Investing/Mutual-Funds/...n-2010/?afl=yahoo
Real-Time: 10.08 0.33 (3.38%) 9:45am ET
Last Trade: 9.82
Trade Time: 9:31am ET
Change: 0.07 (0.72%)
Prev Close: 9.75
Open: 9.81
Bid: 9.81 x 600
Ask: 9.82 x 100
1y Target Est: 11.75
Day's Range: 9.78 - 9.84
52wk Range: 4.11 - 9.98
Volume: 16,646
Avg Vol (3m): 248,200
Market Cap: 357.67M
P/E (ttm): 23.22
EPS (ttm): 0.42
Div & Yield: N/A (N/A)
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http://messages.finance.yahoo.com/...p;mid=263888&tof=1&frt=2
Real-Time: 10.51 0.07 (0.67%) 3:59pm ET
Last Trade: 10.51
Trade Time: 4:00pm ET
Change: 0.07 (0.67%)
Prev Close: 10.44
Open: 10.35
Bid: 10.47 x 1000
Ask: 10.95 x 200
1y Target Est: 11.75
Day's Range: 10.28 - 10.53
52wk Range: 4.11 - 10.53
Volume: 419,988
Avg Vol (3m): 260,884
Market Cap: 382.81M
P/E (ttm): 24.85
EPS (ttm): 0.42
Div & Yield: N/A (N/A)
http://www.spendmatters.com/index.cfm/2010/3/25/...urement-BPO-Growth
http://finance.yahoo.com/news/...ries&pos=6&asset=&ccode=
http://procureinsights.wordpress.com/2010/04/06/...ding-icg-commerce/
Und Internet Capital hält 64% an ICGCommerce.
Bei einem Ipo von ICGCommerce käme die meiste Fantasie auf, obwohl ich aus Sicherheitsgründen eher einen Verkauf an Genpact gegen Aktien dieses Unternehmens bevorzugen würde.
Aber das Ipo-Klima ist ja auch nicht schlecht:
http://www.procurementleaders.com/news/latestnews/...market-momentum/
Die meisten Beteiligungen von Internet Capital sind zwar eher strukturelle Plays, aber natürlich spielt auch die Konjunktur eine Rolle.