Kursverdoppelung bei Actua Corporation (vorm. Internet Capital)

Re: Earnings next week  (Not rated)      30-Apr-07 03:43 am     What are the worth of revenues of 153 million?

Revenues of companies like the private held companies of Internet Capital has multiples between 2 and 12. If we take an average of 6, worth of 153 million = 918. Additional we have cash/securites of 175 million. The result of 918 million and 175 million = 1,093 million. Worth of a share by 39 million outstanding shares = $28.


 

und dann denkt einmal daüber nach, dass die Internet Capital Company Creditex auf dem boomenden Markt für Kreditderivate einen Umsatz von 135 Millionen macht. Was ist also ISE wert und was Creditex.?


FUSION MIT DERIVATEBÖRSE ISE

Deutsche Börse kommt endlich zum Zug

Die Deutsche Börse kommt endlich zum Zug: Nach einer Reihe gescheiterter Übernahmeversuche kauft sie die US-Optionsbörse ISE. Ein Deal in letzter Minute - fast schien der Frankfurter Börsenbetreiber der große Verlierer beim globalen Fusions-Wettrennen zu werden.

Frankfurt am Main - Endlich kann auch die Deutsche Börse im branchenweiten Wettbewerb um Größe und Macht protzen: Durch die Übernahme der International Securities Exchange Holdings (ISE) entstehe der größte transatlantische Marktplatz für Finanzderivate, erklärte der Frankfurter Börsenbetreiber. Man werde über leistungsstarke Vertriebsmöglichkeiten in den beiden wichtigsten Kapitalmärkten der Welt verfügen.


DPA
Handelssaal der Deutschen Börse: Schon zweimal an der Londoner LSE gescheitert
Die Übernahme wird über die Derivatebörse Eurex abgewickelt, ein Gemeinschaftsunternehmen der Deutschen Börse und der Schweizer Börse SWX. Einen verbindlichen Vertrag habe die Eurex mit der ISE heute unterzeichnet. Zuvor hätten die zuständigen Aufsichtsgremien ihre Zustimmung erteilt. Die Eurex werde für die ISE 2,8 Milliarden Dollar in bar bezahlen. Die Deutsche Börse werde 85 Prozent und die SWX 15 Prozent des Kaufpreises übernehmen.

Wie es weiter hieß, wird der Zusammenschluss vollzogen durch eine Fusion zwischen der ISE und einer Tochtergesellschaft der U.S. Exchange Holdings, die wiederum eine Tochtergesellschaft der Eurex ist. Die Transaktion soll im vierten Quartal 2007 abgeschlossen sein.

Die im Mai 2000 gegründete ISE ist auf den Handel mit Aktienoptionen spezialisiert und in ihrer Art die größte in den USA. Ihr Umsatz lag im vergangenen Jahr bei rund 178 Millionen Dollar, unter dem Strich lag der Gewinn bei 55 Millionen Dollar. Nach eigenen Angaben wickelte die ISE 2006 rund 30 Prozent des gesamten Handels mit Aktienoptionen in den USA ab. Die Aktie der ISE ist seit März 2005 an der Wall Street gelistet.

Erste Versuche auf dem US-Markt scheiterten

Die Übernahme erlaubt der Eurex, ihre Produktpalette auf den Dollarraum auszuweiten. Die Börse hatte bereits 2004 mit der Eurex US versucht, den US-Markt zu erobern, war aber gescheitert.

Die Übernahme soll sich in wenigen Jahren auch finanziell auszahlen: Insgesamt erwartet die Börse Synergien von 50 Millionen Dollar vor Steuern jährlich, von denen bis 2010 die Hälfte erreicht werden soll. Die volle Einsparung wird ab 2012 erwartet.

Die ISE bleibe eigenständig unter Regulierung der SEC und behalte ihre Struktur und Marke. Ein Verlust an Know-how sei nicht zu erwarten, erklärte die Börse: Das gesamte Management der ISE wolle an Bord bleiben. Die Übernahme soll im vierten Quartal 2007 abgeschlossen werden.

Analysten begrüßten die Übernahme. Als strategisch sinnvoll bezeichnete etwa Olaf Kayser von der LBBW Landesbank Baden-Württemberg den Kauf der US-Derivatebörse. Damit werde der Eintritt in den US-Terminmarkt doch noch Wirklichkeit. Auch Analyst Konrad Becker vom Bankhaus Merck Finck bewertete die Transaktion positiv. Die Übernahme der ISE bringe das US-Geschäft der Terminbörse Eurex weiter voran. Die im Börsenleitindex Dax  notierten Aktien der Deutschen Börse legten am Montag nach Bekanntwerden der Übernahme deutlich zu.

In der Vergangenheit war die Deutsche Börse mit verschiedenen Übernahmeversuchen stets gescheitert. Zweimal hatte das Unternehmen versucht, die Londoner LSE  zu schlucken, jedoch vergeblich. Auch die angestrebte Fusion mit der europäischen Vierländerbörse Euronext  kam nicht zustande.

ase/Reuters

 

extreme Unterbewertung von Internet Capital sind niedrigen im Kurs enthaltenen Umsatzmultiplikatoren der Umsätze der private held companies von Internet Capital. Bei vergleichbaren Unternehmen haben wir im Schnitt etwa 6, wie ja auch die Monetarisierungen von Blackboard und Linkshare zeigen. Nur beim Börsengang der sehr viel kleineren GoIndustry lagen wir niedriger.

Earnings next week  (Not rated)      30-Apr-07 02:43 pm     About mutiples:

Copyright 2006. Internet Capital Group. All Rights Reserved.

Blackboard - (Nasdaq: BBBB)• IPO in June 2004
• IPO price at $14.00/ share
• Market Cap at IPO of $352 million
• TTM Revenues of $97.5 million
• TTM Multiple = 2.6
• As of February 5, 2005:
• Stock price at $30.00/ share
• Market Cap of $842 million
• TTM Revenues of $181 million
• TTM Multiple = 4.7
• Forward Multiple = 3.8

LinkShare
• Sold to Rakuten in September 2005 for $425 million
• TTM Revenues of $48 million
• TTM Multiple of 8.8


Sentiment : Strong Buy

 

Metastorm Growth Streak Continues in 2007

Global BPM Software Leader Reports another Record Quarter and Steady Increase in Enterprise Deployments

BALTIMORE, MD – May 2, 2007 – Metastorm, a leading provider of Business Process Management (BPM) software for organizational agility, innovation, and governance, today announced financial results for its first quarter ending March 31, 2007. The privately held company posted record revenues and profitability, experienced 30% license growth year-over-year, and reported a continued increase in enterprise deployments of the Metastorm BPM® suite. In addition, existing customers continued to invest in the solution by increasing the number of users, deploying new processes, and implementing additional functional capability to support the full roundtrip process life-cycle. The increased investment by both new and existing customers was driven by a growing interest in BPM technology at the executive level as Metastorm customers validate the software’s ability to not only lower costs and increase control, but also to deliver greater agility and foster increased innovation throughout an organization.

Metastorm continued to witness broad adoption of its BPM software and Process Pod® solutions on a global scale including wins at ADP (France), Cameron McKenna (U.K.), John Deere (Germany), MMA Financial (U.S.), Osborne Clark (U.K.), Rome Airport (Italy), Royal Pharmaceutical Society (U.K.), and Wyeth (U.S.). Existing customers expanding their use of the Metastorm BPM suite included Channel 4 Television (U.K.), Chubb & Sons (U.S), FTN Midwest (U.S.), KPMG (U.S.), SkandiaBanken (Denmark), Staples (U.S.), and the U.S. Navy (U.S.). Strong adoption rates and large enterprise license deals enabled Metastorm to post its 10th consecutive quarter of profitable growth.

Metastorm’s continued revenue performance was recognized by several third party organizations including Smart CEO magazine which presented Metastorm with a Future50 award for its revenue growth, and START-IT magazine which named the Metastorm BPM Suite as a top technology for the manufacturing industry. In addition, Metastorm made KMWorld’s list of the Top 100 Companies that Matter in Knowledge Management for the fourth consecutive year – a validation that BPM technology is not a passing fad but an established enterprise platform with widespread adoption. Metastorm’s BPM leadership was further validated in Q1 by its inclusion in Microsoft’s newly launched Business Process Alliance – an elite set of 10 vendors selected to deliver business process capabilities that complement and extend Microsoft applications.

The most telling endorsement of Metastorm’s performance comes from its customers, who stepped forward to deliver Season 3 of the Metastorm Customers Speak Out video testimonial series – adding to a growing library of live commentary detailing the benefits in efficiency, control, agility, and innovation that Metastorm BPM is delivering across industries and across geographies (www.metastorm.com/customers/videos).

“Metastorm exhibited its ability to deliver consistent growth and profitable results throughout 2006, and we capitalized on that momentum in Q1 to deliver another record quarter,” stated Robert Farrell, president and CEO of Metastorm. “Metastorm customers and partners continue to validate our strategic investments in the company and the product. Organizations want to invest in a proven, established company that will be there to support them long-term, and Metastorm has demonstrated its ability to deliver both measurable results and innovative product capabilities that scale to enterprise needs. Our focus has always been to grow our BPM leadership worldwide, and we have the strategic plan and proven operating model in place to deliver on this objective throughout 2007 and beyond.”
 

http://www.finanznachrichten.de/...ichten-2007-05/artikel-8176029.asp  

Wichtigtse Aussage: "In the first quarter of 2007, aggregate pro forma revenue of ICG's nine private core companies grew 25% year-over-year, to $54.6 million from …….."



Like I predict  (Not rated)       3-May-07 09:03 am     I had written yesterday, that there will be no big news and additional I wrote: “ And therefore I predict a growth of the revenues from 51,5 million to between 54 and 55 million.” And exactley that happened. You can read in quarer-report:



That was the posting with me prediction.


Re: Ok Flank what should we be looking (Not rated) 2-May-07 12:45 pm
Tomorrow we will hear no big news. All we will hear, isn't unknow today. Okay, we should looking at this part (last quarter report): "Set forth below is pro forma information relating to ICG’s current nine Core companies: Channel Intelligence, Freeborders, ICG Commerce, Investor Force, Marketron, Metastorm, StarCite, Vcommerce and WhiteFence. Our average ownership position in these nine companies was 45% at December 31, 2006. Please refer to the supplemental financial data at the end of this release for a reconciliation of such amounts to GAAP measures. In the fourth quarter of 2006, aggregate pro forma revenue of ICG’s nine private Core companies grew 29% year-over-year, to $51.5 million from $40.0 million in the fourth quarter of 2005."But I believe, all we would herar is clear. The yearly growth-rate of the revenues is in the average 30% int the year or about 7% a quarter with a little bit of fluctuation. And therefore I predict a growth of the revenues from 51,5 million to between 54 and 55 million.You see, there will not be a dramatical change. The progress will come over the time and will and must be an increase of the multiples of the proportional revenues of the private held companies of Internet Capital. This number is only 1.8 - fair value is 6. I don't believe, that the quarter-report will bring a dramatical change in this number. We will see dramatical changes, when a monetarisations come with multiples like Blackboard or Linkshare - and this monetarisation will come. Or we will see a dramatical increase of the mutliple, when BIG SHORT must stop the increasing of the shortselling numbers and cover. Maybe, through the report the increase of the multiple will become more clear and realistic.Before that all will be come, investors should buy to get their target of the number of shares. But I believe, they should hurry. Sentiment : Strong Buy


Sentiment : Strong Buy

 

von der Konferenz zur Bekanntgabe der Quartalsergebnisse:

http://www.internetcapital.com/pdf/presentations/webcast1Q07.pdf  

wo Internet Capital 66% hält auf der Quartalkonferenz:

About ICGCommerce in the quarterly report:

• Met revenue and EBITDA targets.

• Successfully launched Kimberly Clark relationship, achieving all milestones
to date.

• Had a number of smaller customer wins and entered the second quarter with a strong sales pipeline.


Sentiment : Strong Buy
 

wo Internet Capital 26% hält, in der Quartalskonferenz:

About Starcite in the quarterly report:

• Strong first quarter from both a top line and bottom line perspective.

• New customers include Liberty Mutual, SunTrust Banks, HealthLogiX, a
major Japanese auto manufacturer and a large global food company.

• Expanded relationships with existing customers including Cardinal Health,
Cox Enterprises, Pfizer and JPMorgan Chase.

• Broadened the platform with two new offerings: the industry’s first dinner
meetings solution and EasyBook, an offering designed to efficiently
arrange small meetings.
 

wo Internet Capital 41% hält, in der Quartalskonferenz:

About Metastorm in the quarterly report:

• A leading provider of Business Process Management software.

• Achieved record total revenues in the first quarter, growing software
revenue 30% compared to the first quarter of 2006.

• New customers wins include ADP, Cameron McKenna, John Deere, MMA
Financial, Osborne Clark, Rome Airport, and Wyeth.

• Expanded relationships with existing customers Chubb and Sons, FTN
Midwest, KPMG, Staples and the U. S. Navy.


Sentiment : Strong Buy
 

wo Internet Capital 34% hält, in der Quartalskonferenz:

About Freeborders in the quarterly report:

• Leading provider of technology solutions and IT.

• Hired outstanding CEO, Jean Cholka, out of Kanbay.

• Signed a number of new clients including BNP Paribas, software vendors
Tadley and Accentrix, and Reliance, an India conglomerate.

• Deepened existing relationships with Expedia, LL Bean, Credit Suisse and
Fortis.


Sentiment : Strong Buy
 

wo Internet Capital 15% hält, in der Quartalspressekonferenz:

About Creditex in the quarterly report:

•Global market leader in executing and processing of credit derivatives.

•Good first quarter as the merger integration proceeds smoothly.

•Built out its platform to include two new business lines: a loan-only credit derivatives swap and bonds in the US and UK inter-dealer markets.

•T-Zero, the back-end processing solution, showed increased market penetration, as additional dealers have gone “live”during the quarter.

•QWIXX, the list trading platform for the dealer-to-client segment, went live in April with very positive market reaction.

 

Geldesel werden, denn momentan werden für derartige Preise horrende Preise gezahlt. Die Deutsche Börse hat gerade für eine US-Derivate-Börse mit etwas gleichen Erlösen wie Creditex 2,8 Milliarden geboten - das 15-fache der 2007er Umsätze. Und Interaktive Group erreichte jetzt beim IPO eine Marktkapitalisierung, die beim 10-fachen der 2006er Umsätze liegt. Wenn man dann noch bedenkt, dass das Wachstum im Spezialmarkt von Creditex, den Kreditderivaten noch wesentlich höher ist als in den beiden von mir im Vergleich herangezogenen Werten, kann man sich gut vorstellen, was für ein Geldesel die 15% von Internet Capital für Creditex werden können - nämlich dass die 175 Millionen und Wertpapiere von Internet Capital und der Wert von Creditex die Marktkapitalisierung von Internet Capital in Höhe von 475 Millionen schon zu 80% abdecken.

Creditex is the BIG BANG  (Not rated)       5-May-07 04:42 am     Interacitve Broker, a broker fo derivatives like Creditex, get 1.2 billion for only 10% of his shares by an ipo. This is a market-cap of 12 billions.

Internet Capital owns 15% of Creditex.

Here the announcement of the IPO, who was better than the prices in the announcement.


IPO REPORT
Interactive Brokers Group doubles IPO to $1 billion

By Steve Gelsi, MarketWatch
Last Update: 3:47 PM ET May 1, 2007


(Corrects dollar value of Thomas Peterffy's stake in the firm.)
NEW YORK (MarketWatch) -- Interactive Brokers Group Inc. is picking up tailwinds from a major merger deal in its sector as the brainchild of Hungarian entrepreneur Thomas Peterffy readies its $1 billion initial public offering for later this week.
The profitable Greenwich, Conn., futures and equities market maker and trading firm nearly doubled the size of its IPO the same day International Securities Exchange (ISE : intl secs exchange hldgs inc cl a
News , chart , profile , more
Last: 67.50+0.66+0.99%

4:00pm 05/04/2007

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ISE67.50, +0.66, +1.0%) set plans to be bought by Deutsche Bourse for $2.8 billion. See full story.
Interactive Brokers Group (IBKR : interactive brokers group in com
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Last: 31.30+1.29+4.30%

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IBKR31.30, +1.29, +4.3%) said in a filing late Monday it will offer 34.5 million shares at $27 to $31 apiece. That's up from its earlier IPO terms of 20 million shares at $23 to $27. It's expected to price on Thursday for trading on Friday.
Peterffy, 62, owns about 85% of the company. Entities that he controls will receive about $830 million in proceeds based on an IPO price of $29 a share, according to company filings.
Peterffy, who took part in the auction for bankrupt derivatives trading firm Refco in 2005, has been a long-time proponent of electronic trading.
Emigrating from Hungary to the U.S. in 1965, he worked for 10 years as a computer programmer before joining the American Stock Exchange in 1977.
As an individual floor trader, he founded the firm that became Interactive Brokers Group, where he now is president and CEO.
The firm trades futures and foreign-exchange instruments as a member of more than 60 electronic exchanges and trading venues worldwide.
WR Hambrecht, HSBC and Fox-Pitt Kelton are underwriting the IPO. The shares are expected to trade on Nasdaq under the symbol IBKR.
Interactive Brokers Group reported net income for 2006 rose 37% to $734 million from $536 million in 2005. Revenue rose 14% to $1.25 billion from $1.1 billion.


Sentiment : Strong Buy

 

Interactive Brokers Group, Inc. Increases Size of and Prices Initial Public Offering
Posted : Fri, 04 May 2007 01:04:00 GMT
Author : Interactive Brokers Group, Inc.
Category : PressRelease
News Alerts by Email click here )

Press Release News | Home



GREENWICH, Conn., May 3 /PRNewswire-FirstCall/ -- Interactive Brokers Group, Inc. today announced an increase in the size of the proposed initial public offering of shares of its Class A common stock from 34,500,000 shares to 40,000,000 shares and further announced the pricing of its initial public offering at $30.01 per share. As previously disclosed in the registration statement, all net proceeds from the sale of shares in the offering will be received by the current members of IBG LLC, the current holding company for its electronic market making and brokerage business.

The Class A common stock will begin trading on May 4, 2007 on the NASDAQ Global Select Market under the symbol "IBKR." The offering is expected to close on or about May 9 2007.

The following is selected information about the auction: -- The auction clearing price was $33.00. -- The offering price was $30.01. -- A total of 13,504 bids were received in the auction. -- A total of 8,282 bids were successful. -- A total of 145,514,807 shares, in total, were bid for at prices equal to or in excess of the offering price. -- The pro rata fill rate for bids was 27.5%.

About Interactive Brokers Group, Inc.:

Interactive Brokers Group, Inc., together with its subsidiaries (the "Company"), is an automated global electronic market maker and broker specializing in routing orders and executing and processing trades in securities, futures and foreign exchange instruments as a member of more than 60 electronic exchanges and trading venues around the world. The Company provides professional traders and investors with direct access to options, futures, stocks, forex and bonds from a single IB Universal Account(SM). Interactive Brokers Group, Inc. is a newly formed Delaware corporation which has been formed to hold shares in and become the managing member of IBG LLC, the current holding company for its business.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on May 3, 2007. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Interactive Brokers Group, Inc.



Copyright © 2007 PR Newswire. All rights reserved.


 

Re: Creditex is the BIG BANG  (Not rated)       5-May-07 06:23 am     Let us compare.

First some numbers about Creditex from the last presentation:

Business Description

• Leading position in the credit derivatives market with strong bank recognition

• First to launch E-trading and have gained significant traction in Europe

• T-Zero is being launched to address the processing needs of the derivatives industry

• Top 2 Market share in most of the macro products Top

• Will trade over $2 trillion notional

• CDS market continuing to grow at 50%+ per annum

• NetIncome Positive

• Annualized revenue growth over 50% annually since January 2004

• 2006 Revenues at $135 Million


ICG Interest In Creditex

•15% Ownership Interest

• Doug Alexander holds a board seat


And now some numbers of Interactive Broker Group:

Interactive Brokers Group reported net income for 2006 rose 37% to $734 million from $536 million in 2005. Revenue rose 14% to $1.25 billion from $1.1 billion.


And now we can compare: Interactive Brokers Group had revenues of 1.25 billion in 2006, Creditex had 135 million revenues = 10,8% of the revenues of Interactive Brokers. IPO-market-cap of Interactive Brokers Group = 12 billion. If we take 10,8% of this 12 billion, the result = 1.3 billion. But the worth can be higher, because the rose of the revenues by Interactive Brokers was 14%, but by Creditex we had a growth of 50%.

Internet Capital owns 15% of Creditex, worth is of the 15% is about 200 million.


 

wie vor durch Cash und marktgängige Wertpapiere abgedeckt - und das bei gleichzeitiger Schuldenfreiheit. Damit ist Internet Capital auf dem jetztigen Kursniveau extrem gut nach unten abgesichert.

 

die extreme Unterbewertung auf und zeigen uns, dass nur das Sich-Immer-Tiefer-In-Die-Scheisse-Reiten eines Shortsellers, dem die renommiertesten Finanzinvestoren der Welt auf der anderen Seite gegenüberstehen (80% halten Institutionals vom Feinsten), einen noch stärkeren Kursanstieg verhindert haben. Das gibt auch Nachzüglern die Chance, noch auf einen Pferd zu setzen, aus dem sie auf Jahressicht durchaus ein Pferdegespann machen können - also eine Verdoppelungschance.

182 million now Cash and Marketable Securities

We can see an strong increase of cash/marketable securities since March 30. Because in the last quarter-report we can read:

"As of March 31, 2007, ICG's corporate cash balance was $56.7 million, the value of its holdings in Blackboard (Nasdaq:BBBB - News) was $72.4 million and the value of its holdings in GoIndustry (LSE.AIM:GOI) was $30.3 million."

That is of March 31, 2007, in the addition an amount of 159 million.

Now we can say:

As of May 6, 2007, ICG's corporate cash balance was $56.7 million, the value of its holdings in Blackboard (Nasdaq:BBBB - News) was $87 million and the value of its holdings in GoIndustry (LSE.AIM:GOI) was $38 million.

That is of May 6, 2007, in the addition an amount of 182 million.


Enorme Bewertungsreserven  

In the result does the 182 million mean: Cash and marketable securities are 40% of the market-cap of today - and that all by a company without any debt.

If we subtract the 182 million from the market-cap of 474 million, there are only 292 millio - and that for proportional revenues of the private hold companies of 153 million in 2007 (estimate on the base of the last quarter-report). This are only an 1.9-times-revenues, the average of revenues of competitors is about 6. Or for: Only two companies of the BIG FIVE under the private hold companies have bigger worth than the 292 million. If you add the worth of the 15% on Creditex and the 66% on ICGCommerce, the amount is bigger than 300 million.

 

 

Intereressant Questions  (Not rated)      1 minute ago     What does a market-cap of only 453 million of today mean?

If we subtract the 178 million of securities and cash, there aon only 285 million.

That means a average-worth of 12 million for the following companies: Marketron, VCommerce, Whitefence, Channelintelligence, Investorforce, Emptoris and Anthem-Venture = 84 million. Worth of all companies is between 2-4-fold.

If we subract the 84 million from 285 million, the result is 201 million for the BIG FIVE: ICGCommerce, Freeborders, Creditex, Starcite and Metastorm. By 201 million and 5 companies, every company is only worth 40 million. Both the fair value is between the 2-4-fold of 40 million.


Sentiment : Strong Buy

 

News from freeborders

FREEBORDERS ANNOUNCES RELEASE OF QUAD PLM
Innovative Product Will Provide Easier, Faster, More Efficient PLM Solutions

May 1, 2007, San Francisco, CA – Freeborders PLM, a leading provider of PLM and technology solutions to the retail and apparel industries, today announced the release of Quad PLM, a web-based collaborative development solution. Quad and Quad PLM Express, designed for smaller companies, will be available early in the Third Quarter, this year.

“Freeborders Quad takes PLM to the next level,” says Debbie Baldini, Managing Director of Freeborders Retail Practice. “This exciting new software will enable our customers to deliver better on-time performance in a more efficient, easier manner.” As a testament to its superiority, Baldini says, about 75% of Freeborders’ current customers reported that they planned to upgrade to Quad.

The Quad PLM suite offers state-of the art, updated technology, including an easier configuration, multi-language capabilities, and an intuitive user interface. “Quad will shorten the design cycle, reduce the amount of physical samples needed, and bring product managers closer to their trend,” Baldini says. “Its multiple modules allow users to consolidate data and easily communicate with one another.”

Comprised of 11 modules, the Quad PLM suite offers pioneering solutions on planning, product design, pre-production, raw material management, sourcing and production and foundation. “It’s no coincidence that this product is named ‘Quad,’” says Baldini. “In addition to being the evolutionary -- and revolutionary -- fourth generation of the Freeborders PLM solution, Quad is the accessible meeting place for everyone involved in the PLM lifecycle.”

Quad PLM Express, which was also introduced today, offers a low barrier entry for small-to-medium-sized enterprises to springboard into the marketplace. The solution features a low-cost investment, quick implementation, and most importantly, the ability to grow with the company as the business grows.

“Freeborders is committed to providing our customers with the most efficient, ground breaking technology at competitive pricing,” Baldini says, “and we’re proud to introduce Quad as part of that commitment.”

Freeborders will be demonstrating Quad PLM at their booth (# 1200) at the Material World Show, May 8-10 at the Miami Beach Convention Center. Visitors are welcome anytime, but appointments are encouraged. Please contact Robert D. Bangser, Senior Director of Business Development, at 203-803-1379 to schedule an appointment.

About Freeborders
Freeborders provides industry expertise to North American and European companies in financial services, technology, retail/consumer goods, manufacturing and transportation & logistics. Headquartered in San Francisco with offices on three continents, Freeborders has developed a track record of service delivery to the Fortune 1000 by combining world-class project management in both hemispheres with one of the largest technology centers in China. Freeborders is a leading provider of technology solutions and outsourcing from China.




Freeborders started in the retail-sector - and then expanded in other sectors - very important is now the financial sector, too. Take a look at the select client list:

Select Client List

Retail

Byer
Christopher and Banks
J.Crew
J.Jill
Kangol
Marc Jacobs
Peacocks
Saks
Sara Lee Courtaulds
Sundance Catalog
TAG
Target
Woolrich
Yakka


Software/Technology

BroadVision
CommerceQuest
Immigration Tracker
NextJump
Onyx Software
RichFX


Manufacturing

Ciba
DuPont
Invista
Owens-Illinois
VF Corporation


Financial Services

Citigroup
Credit Suisse First Boston
Fortis
Morgan Stanley
US Trust



An important step to expand in the finanical sector was the following buy from Internet Capital:

CHINA IT OUTSOURCING LEADER, FREEBORDERS, ACQUIRES ITK SOLUTIONS

Freeborders expands onshore team of financial services industry experts with acquisition of IT management consulting firm

SAN FRANCISCO, CA-February 8, 2006 -Freeborders, a leading provider of technology solutions and outsourcing from China, announced today the acquisition of ITK Solutions, an IT management consulting firm specializing in technology project delivery for financial services companies. ITK Solutions will expand Freeborders' onshore team of experts in the financial services industry, a key growth area for Freeborders.

Headquartered in New York City, ITK Solutions provides expert IT management in delivering technology solutions to financial institutions. The acquisition of ITK Solutions will also bring a top-tier client list of global banks, investment banks, and hedge funds to Freeborders.

"The ITK Solutions team brings an outstanding track record to Freeborders and we see the financial services market as a huge opportunity for China IT outsourcing leaders in 2006," said Freeborders co-CEO Ramsey Walker. "The quality of the ITK Solutions team is one of the main drivers of this deal. ITK management has many decades of experience with top-tier financial services firms."

According to a November 9, 2005 report by Gartner entitled "What Chinese IT Services Providers Must Do to Succeed In the Global Market", it states, "Many buyers of IT services have gone beyond cost as the main issue and are seeking other areas of value, such as unique domain expertise and experience in client's specific industries."

Additonal important for Freeborder was the entry of the following US-incubator, beside Internet Capital and asian investors, who are very important, too. Internet Capital owns 34% of Freeborders.

About FTVentures

FTVentures is a leading private equity firm in the business services and software sectors, investing in companies that offer meaningful solutions to the global financial services industry. FTVentures provides capital to growth companies to finance organic expansion, recapitalizations, build-ups and buyouts.

Capitalize on our Connections
We invest in companies that derive value from our unmatched Global Partner Network, which includes 37 of the world's leading financial institutions, and from our expertise in the financial services industry. Our Global Partner Network, representing the $7.5 trillion global financial services industry, provides us with a unique vantage point into the business driven IT and operating challenges of the global enterprise.

Collaboration is Key
Founded in 1998, we were the first private equity firm to concentrate on growth companies that focus on the financial services industry as a key target sector. FTVentures was established on the premise that a collaborative global financial services investor and partner network could produce profitable investment opportunities through enhanced market intelligence, investment ideas, deal flow, improved diligence and expanded customer relationships.

 

About Starcite success in 06 in the press

http://www.sdcexec.com/online/article.js...

Internet Capital owns 26% of Starcite, who had more than 40 million revenues in 2006 and will have about 60 million in 2007.

About the market:

http://www.hotelsmag.com/archives/2007/0...


StarCite Launches Green Initiatives for the Corporate Meetings Industry
Tuesday May 8, 10:15 am ET
-- Partnership with Meeting Strategies Worldwide Will Provide StarCite Customers with Tools and Guidelines for Green Meetings --


PHILADELPHIA--(BUSINESS WIRE)--StarCite, Inc., the leading provider of On Demand Global Meeting Solutions(TM), today announced a partnership with Meeting Strategies Worldwide, industry environmental meeting experts, that will foster and encourage green meetings throughout the industry. As the world's largest electronic marketplace for corporate meetings and events, handling over $6 billion in corporate meeting business per year, StarCite will help hundreds of companies and thousands of meeting planners worldwide incorporate environmentally healthy decisions and products into every element of the meeting planning process.

StarCite will work with Meeting Strategies Worldwide to provide StarCite customers with MeetGreen(sm), a rigorous and comprehensive program that examines all elements of meetings and conferences, from policies and contracts to recycling policies, and offers recommended practices that help reduce the environmental impact of meetings. Meeting Strategies Worldwide works closely with customers to align meeting programs with each company's own corporate green initiatives with its MeetGreen(sm) line of products and services. This includes the MeetGreen(sm) Calculator, which provides a green assessment of events by measuring over 95 facets of policy, practices and outcomes, from food and beverage choices to site selection.

"We like to think StarCite has already helped change behavior by fostering the development of electronic commerce within the meetings industry through online registrations, e-mail invites and confirmations, and electronic sourcing," said Michael Boult, StarCite President and Chief Executive Officer. "However, our position in the market provides us with a golden opportunity to do much more to promote green travel. This starts by giving our customers the tools they need to take an environmentally-conscious approach to their meetings and events using MeetGreen(sm), as well as through our own corporate programs."

"Meeting Strategies Worldwide is excited about StarCite's new green initiative and the opportunity for us to collaborate," said Amy Spatrisano, CMP, Principal of Meeting Strategies Worldwide.

"The combination of technologies from StarCite and the MeetGreen(sm) Calculator from Meeting Strategies Worldwide will support paperless meeting management and measurement of green practices industry-wide," added Nancy Wilson, CMP, Principal of Meeting Strategies Worldwide.

In addition to its partnership with Meeting Strategies Worldwide, StarCite has also launched the StarCite Green Project. This broad-ranging initiative includes a partnership with CarbonNeutral.com to assess and reduce StarCite's carbon footprint as well as new policies on responsible use of resources such as water and power at StarCite corporate offices in Philadelphia; Twinsburg, OH; Santa Clara, CA; Shanghai and Dusseldorf.



Read why Starcite is THE BIG THING:

http://meetingsnet.com/technology/meetin...

Internet Capital owns 26% of Starcite.



Look at the growth, what will be happen:

At this point, only about 15 percent of all meetings are sourced electronically, experts say, but that figure is growing fast. “Over time, we're going to hit that 40 percent or 50 percent rate,” says Bob Bennett, senior vice president, supplier market, for Philadelphia-based StarCite, which offers e-RFP services among its online meeting-management tools. “It seems these days that virtually every hotel Web site, whether part of a brand or not, has some mechanism for having someone communicate with them electronically on a meeting request.”


Partner on the RFP = Take Starcite

http://meetingsnet.com/incentives/incent...

Internet Capital owns 26% of Starcite. Revenues of Starcite in 2007 will be about 60 Million. The growth-rate in the last years was between 40% and 50% and will continue, because the penetrations of the market is only 15% and experts see a penetration of the market of 50% in few years.



Interview with the CEO:

http://www.sbnonline.com/National/Articl...

 

Zusätzlich winken erhebliche Währungsgewinne, denn der Trendbruch ist eindeutig da:

"So far this year, the trade deficit is running at an annual rate of $722.6 billion, slightly below last year's all-time record of $765.3 billion. The deficit has set new records for five consecutive years."

Erinnert sei in diesem Zusammenhang, wie schnell das deutsche Haushaltsdefizit auf eine Minegröße zusammengeschrumpft ist. Ähnliches könnten wir auch hier erleben.



 

Wer nur in Frankfurt handeln kann, hat nur noch zwei Stunden Zeit.  

Man sollte schon Löffel haben, wenn es Brei regnet, denn der Shortseller hatten in den letzten Tagen geworfen ohne Ende, um eine Reihe von guten Meldungen zu neutralisieren. Er probiert es seit dem Anstieg von $3,40 auf $12 immer wieder, aber es gelingt ihm einfach nicht: den Kurs wesentlich zu drücken, um zu erträglichen Preisen, denn er hat ja zu Preisen von $3,40 ab leer verkauft und seine Shortselling-Position ständig erhöht, einzudecken.

Große Sorgen bereiten BIG SHORT vor allem die überaus guten Meldung von ICGCommerce, wo Internet Capital 66% hält, die man jetzt nicht nur bei ICGCommerce, sondern auch zunehmend in der Presse lesen kann.

http://supplychain-logistics.com/...commerce_marks_significant_growth

ICGCommerce hat seine Führung als Weltmarktführer ausgebaut, denn es doppelt so schnell gewachsen wie der Markt. Damit dürfte die Reihenfolge noch klarer für ICGCommerce aussehen als vor einem Jahr, wo man mit 26% der neu gewonnenen Kontrakte knapp vor IBM Global Services mit 24% lag. Schon damals abgeschlagen waren Accenture mkt 16% und Ariba mit 15%. Alle anderen kleineren Konkurrenten spielen eigentlich nur unbedeutende Nebenrollen und sind nur in Nischen von Bedeutung.
 

Finde deine These schon ziemlich gewagt, dass ein Shortseller seit geraumer Zeit versucht den Kurs permanent zu drücken - zumal der eigentliche Kurs (mit den entsprechenden Umsätzen) in den USA gemacht wird.
Ich gehe davon aus das der Euro gegenüber dem Dollar weiter steigt - mit negativer Auswirkung auf den deutschen Kurs. Wenn eine Konsolidierungsphase in den USA einsetzt, dürfte das den Börsenkursen der Beteiligungen sicherlich nicht wirklich gut tun wird.
Ich sehe deshalb kurzfristig kein Wachstumspotential bei der Aktie - es sei denn dass man sich von einer Haupt-Beteiligung trennt! Und charttechnisch sieht es auch nicht rosig aus.

Aber wie schon mal gesagt - eine Aktie für den Langfristdenker!
 

Shortselling nicht in Deutschland abläuft, sondern in den USA. Dass das so ist, kannst Du an den Zahlen ablesen, die über das Shortselling einmal im Monat veröffentlicht werden - zum 15. eines Monats, allerdings ca. 10 Bankarbeitstage nach dem 15. eines Monats. Hier sind wir inzwischen bei über 4 Millionen geshorter Aktien von insgesamt 39 Millionen ausstehenden Aktien. Und diese Zahlen betreffen nur das offizielle Shortselling, wo also ordnungsgemäß sich das Wertpapier geliehen wurde, das man verkauft hat, ohne es seinem Eigentum zu haben. Dazu kommt noch erhebliches nicht legales nacktes Shorten, das - da es nicht überwiegend nicht legal sein dürfte - nicht in Statistiken auftritt. Die Zahl von 12% leer verkaufter Aktien ist für sich allein schon ein immens hoher Wert. Diese Zahl gewinnt aber besondere Brisanz dadurch, dass 80% der Aktien von Institutionals gehalten werden und somit nicht ohne Einschränkungen dem Free Float zugerechnet werden können. Und außerdem hält das Management auch noch eine Zahl irgendwo zwischen 3% und 5%. Und schließlich hat auch Libuda nie verschwiegen, dass er in den letzten mehr als fünf Jahren 17,500 Aktien für ca. 100,000 Dollar (cirka-Angabe wegen Umrechnungen, da in Frankfurt und den USA gekauft), um mit offenen Karten beim Lesen dieses Threads zu spielen.

Ich sehen die Aktie als Langzeitanlage, schließe aber nicht aus, dass auch kurzfristig sehr viel Bewegung in die Aktie kommen kann, wenn die nun schon über zwei Jahre dauernde schon bisher sehr verlustreiche Spekulation des Shortsellers zusammenbricht, der seit dem Kursanstieg von $3.40 auf das heutige Niveau sinkenden Kursen nachrennt, die er durch weitere eigene Verkäufe herbeizuführen versucht, und sich damit im tiefer in die Scheiße reitet. Da steckt er dann endgültig bis zum Hals drin, wenn die ersten Monetarisierungen kommen - und die sind für 2007 und 2008 ankündigt. Und zwar wurden hier konkret genannt: Creditex, ICGCommerce, Starcite, Metastrom und Marketron, die marktreif zu sein scheinen - und in Wartestellung Freeborders.

Am marktreifsten ist sicher Creditex, die hohe Gewinne machen und nach 135 Millionen Umsatz in 2006 sich in 2007 der 200-Millionen-Grenze nähern. Welche gigantischen Summe für solche Unternehmen gezahlt werden, kannst ja an dem 2,8 Milliarden-Angebot der Deutschen Börse für die US-Terminbörse ISE erkennen, die ungefährt den gleichen Umsatz wie Creditex an, wobei die Umsätze von Creditex mit jeweils 50% in den letzten beiden Jahren noch schneller gewachsen sein dürften als die von ISE.

Für die baldige Monetarisierung von Creditex spricht zudem, dass man es aus den Kernbeteiligungen herausgenommen hat und es in die sonstigen Beteiligungen gesteckt hat.

Aber lies doch einfach einmal rein:

Monetization or "capturing value"  (Not rated)       3-May-07 05:40 pm     FLANK - Good posts.Thanks. In your opinion, what are the likely one to two liquidity events this year? Which of the nine core companies would be the most promising ipo candidate for 07?
Rate it:
     
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 Re: Monetization or "capturing value"  (Not rated)      12-May-07 01:32 pm     I believe, first monetarisation could be Creditex. Look at the high prices of competitors - only sensationel.


Sentiment : Strong Buy

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 Re: Monetization or "capturing value"  (Not rated)      12-May-07 01:35 pm     Look at Interacitve Broker, a broker fo derivatives like Creditex, get 1.2 billion for only 10% of his shares by an ipo. This is a market-cap of 12 billions.

Internet Capital owns 15% of Creditex.

Here the announcement of the IPO, who was better than the prices in the announcement.


IPO REPORT
Interactive Brokers Group doubles IPO to $1 billion

By Steve Gelsi, MarketWatch
Last Update: 3:47 PM ET May 1, 2007

NEW YORK (MarketWatch) -- Interactive Brokers Group Inc. is picking up tailwinds from a major merger deal in its sector as the brainchild of Hungarian entrepreneur Thomas Peterffy readies its $1 billion initial public offering for later this week.
The profitable Greenwich, Conn., futures and equities market maker and trading firm nearly doubled the size of its IPO the same day International Securities Exchange set plans to be bought by Deutsche Bourse for $2.8 billion.

IBKR said in a filing late Monday it will offer 34.5 million shares at $27 to $31 apiece. That's up from its earlier IPO terms of 20 million shares at $23 to $27. It's expected to price on Thursday for trading on Friday.
Peterffy, 62, owns about 85% of the company. Entities that he controls will receive about $830 million in proceeds based on an IPO price of $29 a share, according to company filings.
Peterffy, who took part in the auction for bankrupt derivatives trading firm Refco in 2005, has been a long-time proponent of electronic trading.
Emigrating from Hungary to the U.S. in 1965, he worked for 10 years as a computer programmer before joining the American Stock Exchange in 1977.
As an individual floor trader, he founded the firm that became Interactive Brokers Group, where he now is president and CEO.
The firm trades futures and foreign-exchange instruments as a member of more than 60 electronic exchanges and trading venues worldwide.
WR Hambrecht, HSBC and Fox-Pitt Kelton are underwriting the IPO. The shares are expected to trade on Nasdaq under the symbol IBKR.
Interactive Brokers Group reported net income for 2006 rose 37% to $734 million from $536 million in 2005. Revenue rose 14% to $1.25 billion from $1.1 billion.


Sentiment : Strong Buy

flankenking


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 Re: Monetization or "capturing value"  (Not rated)      12-May-07 01:37 pm     Let us compare.

First some numbers about Creditex from the last presentation:

Business Description

• Leading position in the credit derivatives market with strong bank recognition

• First to launch E-trading and have gained significant traction in Europe

• T-Zero is being launched to address the processing needs of the derivatives industry

• Top 2 Market share in most of the macro products Top

• Will trade over $2 trillion notional

• CDS market continuing to grow at 50%+ per annum

• NetIncome Positive

• Annualized revenue growth over 50% annually since January 2004

• 2006 Revenues at $135 Million


ICG Interest In Creditex

•15% Ownership Interest

• Doug Alexander holds a board seat


And now some numbers of Interactive Broker Group:

Interactive Brokers Group reported net income for 2006 rose 37% to $734 million from $536 million in 2005. Revenue rose 14% to $1.25 billion from $1.1 billion.


And now we can compare: Interactive Brokers Group had revenues of 1.25 billion in 2006, Creditex had 135 million revenues = 10,8% of the revenues of Interactive Brokers. IPO-market-cap of Interactive Brokers Group = 12 billion. If we take 10,8% of this 12 billion, the result = 1.3 billion. But the worth can be higher, because the rose of the revenues by Interactive Brokers was 14%, but by Creditex we had a growth of 50%.

Internet Capital owns 15% of Creditex, worth is of the 15% is about 200 million.


Sentiment : Strong Buy

flankenking


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 Re: Monetization or "capturing value"  (Not rated)      23 minutes ago     Or take a look at ISE. ISE and Creditex are both on derivative-market, the revenues of both are equal or in the same range, only the growth of Creditex is bigger, because they are the market-leader of the interdealer-broker on the boooooooming market of credit-derivates.

Deutsche Boerse to buy U.S. options exchange ISE

BERLIN (AP) — German stock exchange operator Deutsche Boerse said Monday that it has agreed to buy the U.S.-based options exchange International Securities Exchange Holdings (ISE) for $2.8 billion in cash.
The acquisition would make Deutsche Boerse a major player in the U.S. options trading business, becayse ISE is the largest options market in the U.S. for individual stocks, including stock-index options.

The Deutsche Boerse statement said International Securities shareholders would get $67.50 a share for their stock. That represents a nearly 48% premium over Friday's closing ISE price.

ISE shares rose $20.97, or 45.9%, to $66.67 on the New York Stock Exchange after rising to a 52-week high of $67.45.

ISE is the second-largest options market behind the Chicago Board Options Exchange.

FIND MORE STORIES IN: New York Stock Exchange | Chicago Board of Trade | Chicago Mercantile Exchange | Deutsche Boerse | Chicago Board Options Exchange
Deutsche Boerse said the deal would have to win a majority at an extraordinary ISE shareholders meeting, which it said would take place "as soon as possible," and would also require approval by the U.S. Securities and Exchange commission.

"Our principle strategic objective is to further grow our business both in terms of new products and new markets and in partnering with Eurex, we will be able to achieve our goal," said ISE President and Chief Executive David Krell in a statement.

The companies will hold a news conference Tuesday to unveil details of the acquisition.

The purchase would be made through the derivatives exchange Eurex, which is jointly owned by Deutsche Boerse and the Swiss Stock Exchange SWX.

ISE would merge with a subsidiary of U.S. Exchange Holdings, which is in turn a subsidiary of Eurex Frankfurt.

With consolidation sweeping the industry, Deutsche Boerse has been on the lookout for possible partnerships after it lost out to the NYSE Group (NYX) in a bid to acquire European exchange operator Euronext and had two offers for the London Stock Exchange rebuffed.

Analysts saw the $67.50-per-share price for ISE as rich, reflecting Deutsche Boerse's eagerness to do a deal, even at the risk of disappointing shareholders hoping for a special dividend following the German group's unsuccessful forays abroad last year.

"This is a huge number, especially for ISE," said Richard Herr, exchange analyst at Keefe Bruyette & Woods. "Deutsche Boerse may want to deliver a knock-out bid after failing with Euronext. This price overwhelms any cultural issues."

The London exchange fought off several other bids, including one from the Nasdaq Stock Market (NDAQ), which is now its largest shareholder. The Chicago Mercantile Exchange (CME is fighting rival IntercontinentalExchange (ICE) for the Chicago Board of Trade (BOT) in a move to create the world's largest futures exchange

Herr added that NYSE might be tempted to make a counterbid for ISE, which would likely prompt a sequel to last year's trans-Atlantic bidding war over Euronext.

"NYSE has talked about wanting to be bigger in U.S. derivatives and ISE is certainly one of the more attractive properties," Herr said. "NYSE also has the currency to outbid the Deutsche Boerse group with a much higher multiple."

Derivatives — which encompasses options and futures — have been growing at a faster pace than traditional stock trading. To capture this growth, many exchanges have shifted their focus toward stock options and other financial instruments.

Contributing: Reuters

Copyright 2007 The Associated Press.


Sentiment : Strong Buy

flankenking


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