SAN FRANCISCO, CA -- (Marketwire) -- 03/07/13 -- ArchPoint Partners (ArchPoint) is pleased to announce that it acted as sole financial advisor to ICG Group, Inc. ("ICG") in the sale of one of its consolidated companies, Channel Intelligence, Inc. ("CI"), to Google Inc. CI was acquired by Google for $125 million in cash and the transaction closed on February 20, 2013.
"As drivers and architects of CI's growth and success with management and co-investors, we are very pleased with this outcome," said Walter Buckley, CEO of ICG. "The team at ArchPoint helped us to achieve this successful transaction and we are thankful to them for their focused efforts and expertise in architecting this deal."
Rob Wight, founder of CI, commented, "John Cooper managed ICG's initial investment in our company, and played a material role for us as we contemplated further investments and/or business combinations. It was extremely helpful to have this ongoing relationship with ArchPoint all the way through our ultimate transaction with Google."
John Cooper and Susan Blanco, founding partners at ArchPoint were lead advisors to the company and its investors in this transaction. Cooper commented, "It is very fulfilling to have enjoyed a five year relationship with Channel Intelligence; from advising on growth equity through a liquidation event with Google. This is the kind of long-term relationship we strive for with our clients."
About ArchPoint Partners:
ArchPoint Partners is consistently credited with market-leading financing and business combination outcomes in the technology and media sectors. ArchPoint leverages its combined experience in operations, strategy and investment banking to provide astute strategic advice for mergers, acquisitions, divestitures, spin-offs, private capital raising and restructuring. In addition, the firm provides both long-term and short-term board advisory services. ArchPoint is based in San Francisco, California and serves clients worldwide. Securities are offered through Financial Telesis Inc., Member FINRA/SIPC. This testimonial may not be representative of the experiences of other clients. There is no guarantee of future performance or success.
ICG identifies, capitalizes and grows companies in the cloud-based software and services sectors. These companies transform the way business is done by enabling enterprises to increase efficiencies and improve and automate critical processes. ICG leverages its unique expertise to carefully identify companies based on their potential to become market-changers and market-leaders. ICG is focused on building profitable businesses in the cloud-based software and services sectors by infusing them with management expertise, strategic and operational guidance, as well as growth capital.
About Channel Intelligence
Channel Intelligence helps marketers outperform online with its CI Boost services: Facebook Platform, Where-to-Buy, Product Search Engines and Shopping Engine solutions. Relied upon by companies such as Target, Philips, HP, Neiman Marcus, Best Buy and Kimberly-Clark, CI tracks nearly 15 percent of US transactions online and drives $2 billion in sales annually in referred sales online in computing products, home improvement products, appliances, consumer electronics, toys and a variety of other consumer packaged goods. CI is owned by ICG and Aweida Capital Management. Learn more at www.channelintelligence.com.
Safe Harbor Statement under Private Securities Litigation Reform Act of 1995
The statements contained in this press release that are not historical facts are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future performance of our companies, acquisitions or dispositions of interests in companies, the effect of economic conditions generally, capital spending by customers, development of the e-commerce and information technology markets and uncertainties detailed in our filings with the Securities and Exchange Commission. These and other factors may cause actual results to differ materially from those projected.