Equativ and Sharethrough merge to form one of the largest global independent ad platforms and marketplaces

Bridgepoint

Complementary capabilities and inventory create a commercially scaled industry player with a powerful global presence

Equativ, the global independent ad tech company, today announces its merger with Sharethrough, one of the top independent omnichannel ad exchanges. This union aims to establish one of the largest ad marketplaces globally, empowering advertisers, media owners and technology partners to optimise programmatic value and scale.

With more than 720 employees, 18 countries, and a combined net recurring revenue above $200m, the unified entity will provide advertisers and media owners with an independent vertically-integrated alternative to walled gardens, addressing the growing industry’s need for heightened efficiency and innovation on a large scale. Equativ, which confirmed Bridgepoint as its primary investor last year, has tripled in size over the last three years. In Q1 2024, Equativ and Sharethrough respectively achieved 16% and 20% growth year-over-year, driven by new strategic partnerships and increased revenue from curation, CTV, and green media products. Both companies collectively maintain complementary, long-standing relationships with major agency-holding companies, premium publishers, and Fortune 500 brands.

Leveraging the companies’ top-tier technological assets and global commercial presence the combined entity will offer a broader spectrum of services and sustainable media practices, enabling ad buyers to optimise supply paths while executing high-performance campaigns. Synergistic and complementary solutions will maximise outcomes for advertisers and media owners, who will be able to use the scaled offerings to:

  • Provide advanced video & CTV strategies with Equativ’s industry-leading server-side ad insertion (SSAI) and ad serving technology and its evolution of targetable TV advertising with the recent alliance with Deutsche Telekom. Broadcasters, rights owners, distributors, and operators can drive addressable live TV advertising and amplify yield through Equativ’s fully interoperable programmatic video ad tech stack.
  • Maximise user attention & performance through Sharethrough’s ad platform where creatives are seamlessly enhanced for attention and performance, which is further optimised by curating omnichannel inventory focused on directness, sustainability, and quality. Additionally, customers can reduce the carbon footprint while improving the efficiency of their digital advertising via the company’s industry-first Green Media Products (GreenPMPTM and GreenPMP+TM), launched in partnership with Scope3.
  • Deliver efficient and transparent transactions with Equativ’s curation platform, Equativ Buyer Connect (EBC), that streamlines programmatic efficiency by facilitating the creation of exclusive deals for more simplified and transparent transactions. Advertisers can achieve SPO and directly access premium inventory, while Media owners tap into additional demand, promoting fair value distribution across the ecosystem.
  • Expand addressability solutions with Equativ and Sharethrough’s comprehensive suite of seamless and privacy-first solutions. Equativ’s alternative IDs, first-party data activation, and proprietary contextual and semantic targeting solutions, combined with Sharethrough’s audience-based targeting solutions, can help advertisers reach audiences on a large scale, irrespective of the cookie’s future.

 

Arnaud Créput, CEO of Equativ, states:

“The merger with Sharethrough marks a significant milestone in Equativ’s history. The exceptional complementarity and minimal overlap between our two platforms, combining advanced TV technology, exclusive video demand, high-impact formats driving superior user attention, and our leading positions globally, will propel us among the top three independent SSPs worldwide. Our scaled, comprehensive, privacy-first, transparent, and vertically integrated Programmatic Direct Platform will enable us to meet the needs of advertisers, media owners, and consumers for greater control and simplicity in programmatic advertising.”

JF Cote, President & CEO of Sharethrough, adds:

“Our company cultures are exceptionally compatible. Given our longstanding acquaintance, merging the two companies feels like a natural progression; one that allows us to create commercial and operational efficiencies and reach new levels of unique scalability. The union positions us as an industry leader to our top-tier demand and supply-side partners as we work to provide the tools to enable enriched and equitable value exchanges for them across the ecosystem.”

Jean-Baptiste Salvin, Partner at Bridgepoint Development Capital, adds:

“We are excited to support Equativ and Sharethrough in this pivotal merger. This union represents a significant step forward, combining their unique strengths and innovative capabilities to drive unparalleled growth and value. We are confident that together, they will redefine the programmatic advertising landscape and create exceptional opportunities for their stakeholders.”

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Portobello sells Trison, Europe’s leading integrator of digital signage, audiovisual systems, digital content and innovative solutions

Portobello

La Coruña, 10 November 2023 – Trison, Europe’s leading integrator of digital signage,
audiovisual systems, digital content and innovative solutions, today announced that L-GAM, an
international investment company, will acquire together with its founding shareholders and
management team, who will re-invest meaningfully, 100% of the company from majority holders,
leading private equity firm in Spain, Portobello Capital in order to foster the next phase of Trison’s
growth and value creation.

Carlos Saavedra, Founder and Chairman of Trison and Alberto Caceres, CEO of Trison, said:
“We are tremendously proud of what Trison has achieved over the past years, consolidating its
leadership in its core markets, establishing new lines of business and becoming a trusted and
technology driven partner to retailers, auto-dealers, shopping malls, sports’ arenas and
corporations in Europe and around the world. We are excited about entering into a strong
partnership with L-GAM, which will empower Trison in the next chapter of its growth by
contributing their international reach, expertise and value-creation capabilities”.

Felipe Merry del Val, founding partner of L-GAM, said: “Trison is an outstanding company with a
unique value proposition as a scaled and tech-enabled provider of mission-critical digital services
to enhance customer experience and journeys across a number of industries globally. We are
impressed by the way Carlos, Alberto, and the rest of the team have developed and continuously
expanded the Trison platform over the years, building it into the partner of choice for clients across
its ecosystem. Investing in impactful, leading and technology-enabled business models is at the
core of L-GAM’s strategy, and we feel privileged to partner with management as Trison enters a
new phase of organic and inorganic growth.”

Iñigo Sanchez-Asiain, Founding Partner at Portobello Capital, added: “Our journey with Trison
has been a remarkable story of transformation, growth and success, and importantly a successful
partnership with a world-class management team led by Chairman Carlos Saavedra and CEO
Alberto Caceres whom we thank for the tremendous effort and achievement. We are very
confident about Trison continued success in their future exciting endeavours”.

Founded in 1993 in La Coruña, Trison is a global company dedicated to the digitisation of spaces
to generate unique experiences through the integration of audiovisual systems, spectacular
content and innovative sensory marketing solutions. Trison is the European leader in audiovisual
integration and one of the top digital integrators worldwide. Trison is expected to earn €113m in
Revenue for 2023, has 15 offices in 12 countries, deploys over 3,000 projects per year and is
specialized in global brand roll-outs for the fashion & apparel, automotive and luxury industries.
L-GAM is planning to invest into further product development in order to strengthen and expand
Trison’s offer and service range as well as to continue consolidating the industry worldwide
through acquisitions. Management’s focus will be on building technological capabilities, in further
enhancing its client-centric solutions and driving continued organic and inorganic growth.
The transaction is anticipated to close in November 2023. Further terms of the investment are not
being disclosed.

Press release / Nota de prensa
About Portobello Capital
Founded in 2010, Portobello Capital is a leading alternative asset manager in Southern Europe.
It has €2bn of assets under management across 7 different Private Equity strategies and invested
across more than 20 European companies. Portobello backs industry leaders, partnering with its
managers and founders to implement ambitious growth plans, with a strong focus in
internationalization and sector consolidation.

For more information about Portobello Capital, please visit http://www.portobellocapital.es.

Advisors
Canaccord Genuity acted as financial advisor, A&M as DD advisors and Garrigues as legal
advisors to the sellers, while AZ Capital and EY acted as financial advisors, EY as DD advisors,
and RCD and Paul Weiss as legal advisors to L-GAM.
Media Contacts
Alejandro de Antonio – PR Director at Estudio de Comunicación
aantonio@estudiodecomunicacion.com

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KKR Announces Completion Of Acquisition Of Simon & Schuster From Paramount

KKR

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the successful completion of the previously announced acquisition of Simon & Schuster from Paramount Global (NASDAQ: PARA, PARAA) in a $1.62 billion all-cash transaction. With the closing of the deal, Simon & Schuster is now a standalone private company, and the only independent major trade publisher in the U.S. It continues to be led by Jonathan Karp, President and CEO, and his talented executive team.

“This is an exciting moment for us—both a return to our roots as a standalone company and an opportunity for all of us to forge a new path together,” said Jonathan Karp, President and CEO of Simon & Schuster. “With KKR’s resources and support, we intend to become an even stronger company and a more dynamic force in our industry, while still maintaining our well-established record of editorial excellence and independence, and our unceasing focus on doing the best for our authors and their books. I know that we will build on that legacy going forward.”

“Today, Simon & Schuster and KKR are officially one family. The company is in a strong position to capture the opportunity ahead, and we look forward to building on Simon & Schuster’s reputation for delivering engaging and compelling books to readers all over the world,” said Ted Oberwager, a Partner who leads the gaming, entertainment, media and sports verticals within KKR’s Americas Private Equity business.

“In recent years Simon & Schuster has built an impressive track record of commercial success to go along with its 100-year legacy of publishing excellence. We are thrilled to work on the next phase of Simon & Schuster’s growth with Jon and the entire Simon & Schuster team. As part of that we are delighted employees will now have the opportunity to participate in the benefits of ownership in the company,” said Richard Sarnoff, Chairman of Media at KKR.

“After a highly competitive process, this is an ideal outcome for both Simon & Schuster and Paramount. Simon & Schuster is positioned well for future growth, and the transaction itself demonstrates significant value capture for Paramount and meaningfully advances our de-levering plan. It has been an honor to have Simon & Schuster as part of our Paramount family for nearly 50 years, and we wish Jon and the entire team continued success as they begin their new chapter with KKR,” said Bob Bakish, President & CEO, Paramount Global.

KKR is supporting Simon & Schuster in implementing a broad-based employee ownership program. This strategy is based on the belief that employee engagement and a strong ownership culture are key drivers in building stronger companies. Since 2011, KKR portfolio companies have awarded billions of dollars of total equity value to over 60,000 non-senior management employees across more than 35 portfolio companies.

About Simon & Schuster

Simon & Schuster is a global leader in general interest publishing, dedicated to providing the best in fiction and nonfiction for readers of all ages, and in all printed, digital and audio formats. Its distinguished roster of authors includes many of the world’s most popular and widely recognized writers, and winners of the most prestigious literary honors and awards. It is home to numerous well-known imprints and divisions such as Simon & Schuster, Scribner, Atria Books, Gallery Books, Adams Media, Avid Reader Press, Simon & Schuster Children’s Publishing and Simon & Schuster Audio and international companies in Australia, Canada, India and the United Kingdom, and proudly brings the works of its authors to readers in more than 200 countries and territories. For more information about Simon & Schuster, please visit www.simonandschuster.com.

About Paramount

Paramount Global (NASDAQ: PARA, PARAA) is a leading global media, streaming and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, Paramount’s portfolio includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+ and Pluto TV. Paramount holds one of the industry’s most extensive libraries of TV and film titles. In addition to offering innovative streaming services and digital video products, the company provides powerful capabilities in production, distribution, and advertising solutions.

For more information about Paramount, please visit www.paramount.com and follow @ParamountCo on social platforms.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

For Simon & Schuster
Adam Rothberg
Senior Vice President, Corporate Communications, Simon & Schuster
(917) 270-1717
adam.rothberg@simonandschuster.com

For KKR
Liidia Liuksila and Emily Cummings
(212) 750-8300
media@kkr.com

For Paramount
Media:
Justin Dini, Executive Vice President, Head of Communications
(212) 846-2724
justin.dini@paramount.com

Allison McLarty, Senior Vice President, Corporate and Financial Communications
(630) 247-2332
allison.mclarty@paramount.com

Investors:
Jaime Morris, Executive Vice President, Investor Relations
(646) 824-5450
jaime.morris@paramount.com

Source: KKR

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Holland Capital Fuels Conversational Commerce Advancements and Invests in Conversation24

Holland Capital

Rotterdam, 24 August – Investment company Holland Capital announces an investment in Conversation24, the trailblazing omnichannel communication provider focussing on lead conversion, conversational commerce and live chat. The funding round, led by Holland Capital, marks a significant milestone for Conversation24, which is poised to leverage this infusion of capital to expand its global footprint.

Conversation24 is leveraging a state-of-the-art omnichannel communication platform and conversational AI to revolutionise the way businesses engage with their customers. The company empowers clients to engage in more meaningful customer interactions, to boost customer satisfaction, to increase conversions and share of wallets, and to unlock unprecedented insights based on vast troves of conversational data. On top of that, it offers consumers shopping experiences in WhatsApp where it also connects payments to WhatsApp. Their suite of solutions has already garnered acclaim from prominent global industry players, establishing Conversation24 as a frontrunner in the burgeoning lead conversion and conversational commerce domains.

Lead conversion and conversational commerce

The decision of Holland Capital to invest in Conversation24 reflects a well-grounded belief in the immense potential of lead conversion and conversational commerce. As customer expectations continue to evolve, businesses across the globe seek innovative ways to provide personalised, seamless, and real-time interactions. Conversation24’s state-of-the-art platform not only addresses these demands but also empowers enterprises to achieve unparalleled conversion rates combined with higher customer satisfaction scores.

International growth

The investment will fuel Conversation24’s further international growth. “We are delighted to partner with Conversation24 in this exciting phase of their journey,” said Jorg van der Heijden, Partner at Holland Capital. “Their breakthrough lead conversion and conversational commerce technology has already demonstrated significant impact across diverse sectors, and we are confident that this investment will help Conversation24 reach new heights. As pioneers in fostering innovative technologies, Holland Capital recognises the transformative potential of Conversation24 and its vital role in shaping the future of customer engagement.”

Nick Blom, CEO and founder of Conversation24, “As Conversation24 propels its growth trajectory with the backing of Holland Capital, businesses worldwide can anticipate a new era of customer interactions characterised by unmatched personalisation and enhanced user experiences. This funding round will help us to bring the capabilities of our platform towards all consumer facing enterprises.”

About Conversation24

Conversation24 is a pioneering omnichannel communication platform with a focus on Lead Conversion, Conversational Commerce and Live Chat. Through this cutting-edge platform, Conversation24 empowers businesses to interact with consumers in a better, faster and more qualitative way in the channel of the consumer’s choice.

About Holland Capital

Over the past 40 years, Holland Capital has responsibly and successfully invested in more than 160 promising companies that are reshaping industries and driving global innovation. With a clear investment strategy, it is active in the attractive growth markets of technology, healthcare, and food & agri. The experienced and committed investment team understands what entrepreneurship entails. They strive for an open, sustainable, and professional relationship with the management teams of the companies in which they invest, with the common goal of achieving growth. Holland Capital is supported by a broad network of successful entrepreneurs.

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MW Investment B.V. completes take-private acquisition of Meltwater

SAN FRANCISCO, August [9], 2023 —Meltwater, a global leader in media, social and consumer intelligence, today announces that is has completed the acquisition by MW Investment B.V, an entity jointly controlled by Marlin Equity Partners (“Marlin”) and Altor. The offer and subsequent post-closing restructuring were originally announced on January 18,2023 and completed on August 9, 2023. Meltwater shareholders were entitled to receive NOK 18.00 settled in cash, shares in the Offeror, or a combination thereof. As a result of the transaction, Meltwater has been delisted from trading on the Oslo Stock Exchange.

“We look forward to partnering with Marlin and Altor to execute on our vision and mission to be the global leader in digital and social media monitoring and intelligence, to help customers monitor, understand, and influence the world around them based on data insights from the outside. I am proud of our proven track record of profitable growth, underpinned by product leadership and a committed customer base. We believe this transaction will bring new opportunities to Meltwater and we look forward to working with new ownership to drive our continued success,” said John Box, CEO of Meltwater.

“We believe Meltwater represents a unique opportunity to invest in an industry leader in the media intelligence software space with proven strategic product capabilities. Meltwater’s solutions have a significant market opportunity and are critical to strategic brand decisions across enterprises globally. We are eager to work together in partnership with Altor and management to fuel the strong growth trajectory of the company,” said Nathan Pingelton, a managing director at Marlin.

“Meltwater has a history of industry disruption and is now strategically poised to further capture a significant market opportunity. We are committed to supporting Meltwater with the strategic and financial resources that will accelerate overall growth, technological innovation and the delivery of a top-of-the-line product offering to its customers,” added Natasha Mann, a principal at Marlin.

“Altor and Marlin are aligned with Meltwater’s strategy and taking Meltwater private will enable a greater ability to execute on this strategy by investing in product, sales, and strategic M&A, as Meltwater has successfully pursued historically. Our longstanding investment in Meltwater is based on our confidence in its leadership position, strong culture, and team, and we remain very confident in the company’s future potential. We are also happy to see the support from the current shareholders and many of them believing in Meltwater’s strategy and therefore continuing as shareholders of the company.” said Mattias Holmström, Partner at Altor.

J.P. Morgan Securities plc and DNB Markets, a part of DNB Bank ASA, served as financial advisors to Meltwater. Schjødt, Houthoff and DLA Piper acted as legal advisors to Meltwater.

Carnegie AS acted as financial advisor in connection with the Offer. Advokatfirmaet Thommessen AS, Freshfields Bruckhaus Deringer LLP, Advokatfirmaet Wiersholm AS, Goodwin Procter LLP and AKD N.V. acted as legal advisors to the buyer.

About Altor

Since inception, the family of Altor funds has raised more than EUR 10 billion in total commitments. The funds have invested in just south of 100 companies. The investments have been made in medium sized predominantly Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are H2 Green Steel, Silo AI, ARC, Rillion and QNTM. For more information visit www.altor.com.

About Meltwater

Meltwater provides social and media intelligence. By analyzing approximately one billion online documents daily, Meltwater enables PR, Communications and Marketing professionals to make informed strategic decisions and influence the world around them. The company was founded in Oslo, Norway in 2001 and now has 50 offices across six continents. Meltwater has 2,300 employees and 27,000 corporate customers, including industry leaders in several sectors. For more information, please visit www.meltwater.com.

About Marlin Equity Partners

Marlin Equity Partners is a global investment firm with over $8.9 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthen a company’s outlook and enhance value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 200 acquisitions. The firm is headquartered in Los Angeles, California, with an additional office in London. For more information, please visit www.marlinequity.com.

Press contact

Tor Krusell

Head of Communications

tor.krusell@altor.com

+46 705 43 87 47

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KKR to Acquire Simon & Schuster from Paramount Global for $1.62 Billion

KKR

NEW YORK–(BUSINESS WIRE)– Paramount Global (NASDAQ: PARA, PARAA) and KKR today announced the signing of a definitive agreement pursuant to which KKR will acquire Simon & Schuster for $1.62 billion in an all-cash transaction.

“We are pleased to have reached an agreement on a transaction that delivers excellent value to Paramount shareholders while also positioning Simon & Schuster for its next phase of growth with KKR,” said Bob Bakish, President and CEO of Paramount Global. “The proceeds will give Paramount additional financial flexibility and greater ability to create long-term value for shareholders, while also delevering our balance sheet.”

After the closing of the transaction, Simon & Schuster will become a standalone private company and will continue to be led by Jonathan Karp, President and CEO and Dennis Eulau, COO and CFO of Simon & Schuster.

“All of the executives at Simon & Schuster who met with KKR came away from those conversations impressed with the depth of KKR’s interest in our business and their commitment to helping us grow, thrive and become an even stronger company,” said Jonathan Karp. “With KKR’s support, we look forward to collaborating on new strategies that will enhance our ability to provide readers a great array of books and to give authors the best possible publication they can receive.”

Simon & Schuster has an outstanding reputation in book publishing, in addition to sustained, strong operating performance and double-digit revenue growth in the first quarter of 2023. KKR expects to advance the company’s position as one of the world’s best-known publishers and distributors with more than 36,000 titles across adult, children, audio and international categories.

In addition to investing in all areas necessary to establish Simon & Schuster as a standalone entity, KKR intends to support numerous growth initiatives, including extending Simon & Schuster’s strong domestic publishing program across various genres and categories, expanding its distribution relationships and accelerating growth in international markets.

KKR will also support Simon & Schuster in creating a broad-based equity ownership program to provide all of the company’s more than 1,600 employees the opportunity to participate in the benefits of ownership after the transaction closes. Since 2011, KKR portfolio companies have awarded billions of dollars of total equity value to over 60,000 non-management employees across more than 30 companies.

“Simon & Schuster’s nearly 100-year history is a testament to the enduring value of creative expression through the written and spoken word. We are thrilled to invest behind Jon and the immensely talented organization at Simon & Schuster to support their mission of delivering marquee content to readers around the world,” said Ted Oberwager, a Partner who leads the gaming, entertainment, media and sports verticals within KKR’s Americas Private Equity business.

Richard Sarnoff, Chairman of Media at KKR, added, “We see a compelling opportunity to help Simon & Schuster become an even stronger partner to literary talent by investing in the expansion of the company’s capabilities and distribution networks across mediums and markets while maintaining its 99 year legacy of editorial independence. We also believe the opportunity to create an ownership culture within one of the world’s top publishers has enormous potential to create value for all of Simon & Schuster’s stakeholders.”

Completion of the transaction is subject to customary closing conditions, including regulatory approvals.

KKR is making its investment in Simon & Schuster primarily through its North America Fund XIII and has secured fully committed financing for the transaction. The investment builds on KKR’s deep experience investing in content-oriented media businesses, including current and prior investments in Epic Games, Mediawan, Leonine Studios, Artlist, Skydance Media, BMG and RBmedia, among others.

LionTree Advisors is acting as financial advisor and Shearman & Sterling LLP is acting as legal advisor to Paramount. Simpson Thacher & Bartlett LLP is acting as legal advisor to KKR.

About Simon & Schuster

Simon & Schuster is a global leader in general interest publishing, dedicated to providing the best in fiction and nonfiction for readers of all ages, and in all printed, digital and audio formats. Its distinguished roster of authors includes many of the world’s most popular and widely recognized writers, and winners of the most prestigious literary honors and awards. It is home to numerous well-known imprints and divisions such as Simon & Schuster, Scribner, Atria Books, Gallery Books, Adams Media, Avid Reader Press, Simon & Schuster Children’s Publishing and Simon & Schuster Audio and international companies in Australia, Canada, India and the United Kingdom, and proudly brings the works of its authors to readers in more than 200 countries and territories. For more information about Simon & Schuster, please visit www.simonandschuster.com.

About Paramount

Paramount Global (NASDAQ: PARA, PARAA) is a leading global media, streaming and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, Paramount’s portfolio includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+ and Pluto TV. Paramount holds one of the industry’s most extensive libraries of TV and film titles. In addition to offering innovative streaming services and digital video products, the company provides powerful capabilities in production, distribution, and advertising solutions.

For more information about Paramount, please visit www.paramount.com and follow @ParamountCo on social platforms.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS

This communication contains both historical and forward-looking statements, including statements related to our future results and performance. All statements that are not statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Similarly, statements that describe our objectives, plans or goals are or may be forward-looking statements. These forward-looking statements reflect our current expectations concerning future results and events; generally can be identified by the use of statements that include phrases such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “foresee,” “likely,” “will,” “may,” “could,” “estimate” or other similar words or phrases; and involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause our actual results, performance or achievements to be different from any future results, performance or achievements expressed or implied by these statements. These risks, uncertainties and other factors include, among others: risks related to our streaming business; the adverse impact on our advertising revenues as a result of changes in consumer viewership, advertising market conditions and deficiencies in audience measurement; risks related to operating in highly competitive industries, including cost increases; our ability to maintain attractive brands and to offer popular content; changes in consumer behavior, as well as evolving technologies and distribution models; the potential for loss of carriage or other reduction in or the impact of negotiations for the distribution of our content; damage to our reputation or brands; risks related to our ongoing investments in new businesses, products, services, technologies and other strategic activities; losses due to asset impairment charges for goodwill, intangible assets, FCC licenses and programming; risks related to environmental, social and governance (ESG) matters; evolving business continuity, cybersecurity, privacy and data protection and similar risks; content infringement; domestic and global political, economic and regulatory factors affecting our businesses generally; the impact of COVID-19 and other pandemics and measures taken in response thereto; liabilities related to discontinued operations and former businesses; the loss of existing or inability to hire new key employees or secure creative talent; strikes and other union activity, including the ongoing Writers Guild of America (WGA) and Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) strikes; volatility in the price of our common stock; potential conflicts of interest arising from our ownership structure with a controlling stockholder; and other factors described in our news releases and filings with the Securities and Exchange Commission, including but not limited to our most recent Annual Report on Form 10-K and reports on Form 10-Q and Form 8-K. There may be additional risks, uncertainties and factors that we do not currently view as material or that are not necessarily known. The forward-looking statements included in this communication are made only as of the date of this communication, and we do not undertake any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.

For Simon & Schuster
Adam Rothberg
Senior Vice President, Corporate Communications, Simon & Schuster
(917) 270-1717
adam.rothberg@simonandschuster.com

For Paramount
Media:
Justin Dini, Executive Vice President, Head of Communications,
(212) 846-2724
justin.dini@paramount.com

Allison McLarty, Senior Vice President, Corporate and Financial Communications
(630) 247-2332
allison.mclarty@paramount.com

Investors:
Kristin Southey, Executive Vice President, Investor Relations
(310) 593-1630
kristin.southey@paramount.com

Jaime Morris, Senior Vice President, Investor Relations
(646) 824-5450
jaime.morris@paramount.com

For KKR
Miles Radcliffe-Trenner and Emily Cummings
(212) 750-8300
media@kkr.com

Source: KKR

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H.I.G. Capital to Acquire RBmedia from KKR

All employees to benefit from sale and will receive payouts from their ownership stakes

NEW YORK & LANDOVER, Md.–(BUSINESS WIRE)– Leading global investment firms KKR and H.I.G. Capital (“H.I.G.”) today announced that an affiliate of H.I.G. will acquire RBmedia and support its next phase of growth and development. RBmedia is the leading audiobook publisher in the world with a powerful digital distribution network that reaches millions of listeners around the globe.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230725893966/en/

RBmedia employees react to the news of the cash payouts they will receive upon close of the transaction (Photo: Business Wire)RBmedia employees react to the news of the cash payouts they will receive upon close of the transaction (Photo: Business Wire)

“This acquisition marks a milestone achievement for RBmedia and represents the next chapter in our ongoing business growth and expansion,” said Tom MacIsaac, Chief Executive Officer for RBmedia. “Over the last five years, we have been privileged to work with the KKR team to create a leading company and to become a trusted partner for authors, publishers, distributors and voice actors, and we look forward to working with H.I.G. to build on that foundation.”

Since KKR’s investment in August 2018, RBmedia has doubled the size of its catalog – from over 31,000 to over 66,000 audiobooks – and expanded its distribution channels. During this period, RBmedia also experienced five years of double-digit revenue growth, invested in diverse content and expanded into international markets.

“Over the last five years, the RBmedia team has consistently delivered high-quality, award-winning content for customers and value for its authors and creators. It’s been a remarkable growth journey with a dedicated team and a sense of partnership and ownership that has led to great results for all of RBmedia’s stakeholders, including all employee owners who will participate in the positive financial outcome,” said Ted Oberwager, a Partner who leads the gaming, entertainment, media and sports verticals within KKR’s Americas Private Equity business, and Richard Sarnoff, Chairman of Media at KKR. “We have every confidence that H.I.G. will help take RBmedia to even greater heights.”

“The audiobook market is set for significant growth and investment in the coming years,” said Aaron Tolson, Managing Director at H.I.G. “We are thrilled to partner with RBmedia’s world-class management team and to help them build on their success to date as they continue to shape the digital media landscape.”

Upon closing of the transaction, all RBmedia employees will receive a cash payout based on their tenure with the company. Long-term employees will earn up to two times their annual salary.

Since 2011, KKR has supported its portfolio companies in awarding equity worth billions of dollars to over 60,000 non-management employees across more than 30 companies, and has committed to deploying this model in all control investments across its entire Americas Private Equity platform. KKR is also a founding member of Ownership Works, a nonprofit organization that partners with companies and investors to provide all employees with the opportunity to build wealth at work.

The transaction, which is subject to customary regulatory approvals, is expected to close by Q4 2023.

RBmedia was advised by Goldman Sachs & Co. LLC and LionTree Advisors. Simpson Thacher & Bartlett LLP served as legal counsel to RBmedia. Morgan Stanley & Co. LLC and RBC Capital Markets acted as financial advisors, and Latham & Watkins LLP provided legal advice, to H.I.G. Capital.

About RBmedia

RBmedia is the leading audiobook publisher in the world. With more than 66,000 titles, our audiobooks continually top key literary awards and bestseller lists. The company’s powerful digital retail and library distribution network reaches millions of listeners around the globe—at home, in the car, and everywhere their mobile devices go. Our titles are available on leading audio platforms, including Audible, Spotify, Apple, Google Play, Audiobooks.com, Storytel, OverDrive, Hoopla, and many more. Find out more at rbmediaglobal.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About H.I.G. Capital

H.I.G. Capital is a leading global alternative investment firm with $58 billion of capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:

  1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
  3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
  4. H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $52 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

*Based on total capital raised by H.I.G. Capital and its affiliates.

Media
For KKR:
Miles Radcliffe-Trenner and Emily Cummings
(212) 750-8300
media@kkr.com

Source: KKR

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ECOMMERCE ONE acquires e-commerce specialists Makaira and Marmalade

Oakley

Oakley Capital, the leading pan-European private equity investor, is pleased to announce that portfolio company ECOMMERCE ONE has acquired Makaira GmbH and Marmalade GmbH.

ECOMMERCE ONE was founded in 2021 with the ambition to become the leading comprehensive ecosystem of e-commerce solutions in the DACH region.

Ecommerce One CTA

The two companies were founded by Joscha Krug, who will continue as the business’ Managing Director and will become a minority shareholder in ECOMMERCE ONE.

Makaira offers an e-commerce marketing suite software solution for online retailers including well-known brands such as Sport Conrad, Rotkäppchen-Mumm, Zweirad Stadler and many more. Makaira’s headless eStorefront software enables online merchants to rapidly develop and optimise the front end of their online stores.

Marmalade is a well-established e-commerce consultancy with a focus on providing tailored implementation and customisation services for online merchants, principally building upon shop systems such as Shopify, Shopware and OXID.

Quote Joscha Krug

We are confident we will maximise our innovative power and growth potential in the ECOMMERCE ONE network. This will allow us to offer new features to our customers and expand our presence in the market.

Joscha Krug

Founder — Makaira and Marmalade

The group harnesses synergies between its constituent companies (including Afterbuy, DreamRobot and Gambio) to provide a holistic suite of solutions and support for online merchants selling their products through web shops and online marketplaces like Amazon or eBay. Through the highly complementary acquisitions of Makaira and Marmalade, ECOMMERCE ONE gains further capabilities, reach and cross selling potential.

Online retailers need to adapt to meet increasing market and customer demands. We support them by bundling the knowledge of different software providers and consulting companies from the e-commerce market and providing them with holistic solutions. With the latest acquisition of Marmalade and Makaira, we gain both development and consulting expertise as well as established and sought-after technologies. In particular, Makaira’s headless infrastructure opens up opportunities for shops and shop systems to become more agile and successful.

Daliah Salzmann and Arik Reiter

Co-Managing Directors — ECOMMERCE ONE

Quote Peter Dubens

ECOMMERCE ONE continues to drive towards becoming the leading e-commerce software provider for online merchants in the DACH region. With Marmalade and Makaira, the company strengthens its competencies in and around shop systems, and we look forward to seeing its ongoing successful expansion strategy.

Peter Dubens

Founder and Managing Partner — Oakley Capital

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Clearlake and Motive-backed software platform BETANXT expands capabilities, growth opportunities with acquisition of Mediant Communications

Clearlake

Transaction builds on firm’s end-to-end wealth solutions software platform, adds investor communications and proxy solutions

 

New York, NY – March 1, 2023 – BetaNXT, a provider of wealth management infrastructure software with real-time data capabilities and an enhanced advisor experience, today announced that certain affiliates of BetaNXT have acquired Mediant Communications (“Mediant”), a provider of investor communications technology and technology-enabled solutions to banks, brokers, corporations, funds, and investment managers. The acquisition augments BetaNXT’s suite of wealth management solutions, expanding BetaNXT into investor communications through Mediant’s digital-forward communications capabilities, industry experience and reliability.

 

“Adding Mediant to the BetaNXT platform enhances our ability to be a trusted partner for companies looking to integrate communications into their wealth management platforms. We are now able to offer an additional functionality that will benefit our clients and allow their operations to be more connected,” said Stephen C. Daffron, BetaNXT Chairman and Chief Executive Officer.

 

Backed by Clearlake Capital and Motive Partners, BetaNXT brings together proven wealth management solutions – Beta, Maxit, and now Mediant – into a single, integrated platform. The BetaNXT approach to improving the advisor experience combines intelligent, user-centric technology with notable industry perspective, and a robust partner network. With an operating history of over 40 years, the firm supports more than 50 million retail accounts, has more than $6 trillion of assets on the platform, and processes more than 35 million securities-related transactions daily.

 

“BetaNXT’s culture, vision, and client base made the combination an intriguing opportunity for Mediant’s next phase of growth. We look forward to working alongside the BetaNXT team to grow our combined company together and better serve our clients,” stated Arthur Rosenzweig, Mediant Communications CEO.

 

BetaNXT will incorporate Mediant’s technology to digitize and incorporate the investor communications process into its broader suite of software solutions, which includes real-time data capabilities, cost basis and tax reporting solutions, and front, middle and back-office applications. The integration will result in a more complete, holistic solution for wealth management firms, allowing for additional cost savings and a more streamlined communications process that will benefit investors.

 

“We are focused on providing critical data connections for our clients, with visibility into the source and destination of all data that flows through our wealth solutions,” said Tim Rutka,

President of Beta by BetaNXT.  “Incorporating Mediant’s capabilities will provide tremendous value to our mutual client networks.”

 

BetaNXT was advised by Sidley Austin LLP. Mediant was advised by Ardea Partners LP and Morgan, Lewis & Bocklus LLP.

 

 

About BetaNXT

BetaNXT powers the future of connected wealth management infrastructure software, leveraging real-time data capabilities to enhance the wealth advisor experience. Combining industry expertise with the power of our proven Beta, Maxit, and Mediant businesses, we are focused on solving our customers most demanding integration challenges with flexible, efficient, connected solutions that anticipate their changing needs. Our comprehensive approach reduces enterprise cost, streamlines operations processes, increases advisor productivity, and enhances the investor experience. Together with BetaNXT, wealth management firms are transforming their platforms into differentiating assets that enable enterprise scale and stimulate commercial growth. For more information visit www.betanxt.com.

 

About Mediant Communications

Mediant, an Argentum Portfolio Company, delivers investor communications solutions to banks, brokers, corporate issuers, and funds. Our solutions are driven by leading technology and strict compliance with industry regulations, which allows clients to balance innovation with requirements. We enable banks and brokers to effectively manage all potential touchpoints within the investor communications lifecycle—from proxy statements and prospectuses to voluntary corporate actions. We provide corporate issuers with turnkey proxy processing, and we empower mutual funds, REITs and insurance companies with a full-service, end-to-end proxy solution.

 

 

About Clearlake

Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with management teams by providing patient, long-term capital to businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.®. The firm’s core target sectors are technology, industrials, and consumer. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin, Ireland. More information is available at www.clearlake.com and on Twitter @Clearlake.

 

About Motive

Motive Partners is a specialist private equity firm with offices in New York City and London, focusing on growth equity and buyout investments in technology-enabled financial and business services companies based in North America and Europe and serving five primary subsectors: Banking & Payments, Capital Markets, Data & Analytics, Investment Management and Insurance. Motive Partners brings differentiated expertise, connectivity, and capabilities to create long-term value in financial technology companies through its integrated I-O-I approach, combining Investors, Operators and Innovators as it seeks to create value within the portfolio. More information on Motive Partners can be found at www.motivepartners.com.

 

 

U.S. Media Relations

For news media only, contact:

For BetaNXT

 

Laura Barger                                                                         Justin Meise                                     

BetaNXT                                                                                 Buttonwood Communications Group

+1 646-706-5802                                                                    +1-914-319-0339

laura.barger@betanxt.com                                                     jmeise@buttonwoodpr.com

 

 

For Mediant

 

Robin Brown                                                                      Dana Taormina Cleary

Mediant                                                                                   JConnelly

+1-917-697-2122                                                                    +1-973-647-4626

rbrown@mediant.com                                                            dtaormina@jconnelly.com

 

 

For Clearlake

 

Jennifer Hurson

Clearlake Capital Group Media Contact – Lambert

+1 845-507-0571

jhurson@lambert.com

 

 

For Motive Partners

 

Sam Tidswell-Norrish

Motive Partners

+44 7855 910178

sam@motivepartners.com

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Bridgepoint takes majority stake in Equativ

Bridgepoint

Bridgepoint has acquired a majority stake in Equativ, the leading independent ad platform, who it will support in developing the only independent advertising alternative to GAFAM, supporting the Open Web.

Following record growth in 2022, Equativ reached net recurring revenues of $100 million, achieving year-on-year organic growth of 30% and tripling its revenues over the past three years. This partnership with Bridgepoint will accelerate Equativ’s mission: to help publishers and advertisers thrive in an open, independent Web and compete with the dominant – but increasingly vulnerable – walled gardens.

Equativ will benefit from Bridgepoint’s expertise in fast-growing tech companies and extended financial capabilities to amplify its growth across core markets (particularly the United States, which already represents 40% of revenues). Thus, Equativ will keep building its expanding tech stack and strongly accelerate both its organic and external growth strategies. The goal is to create one of the top three Supply Side Platforms (SSP) worldwide.

Founded initially as Smart AdServer, the company expanded as an SSP and continued to grow its vertically-integrated solutions with the acquisitions of LiquidM and DynAdmic, as well as investment in Nowtilus – all leading up to the rebrand of the company as Equativ in 2022. The company is now a global and complete adserver, SSP, and media buying solutions providing a simpler, more transparent, and more efficient advertising journey. Equativ fulfills the promise of advertising technology by harmonizing market interests to benefit industry professionals while respecting consumers.

In 2023, Equativ will continue to innovate, streamlining digital media processes and powering advancements that bolster addressable advertising’s impact. Key among the company’s priorities are maintaining and reinforcing the company’s growth in the CTV and video market – which will reach more than $40 billion in revenues in the US in 2025* – as well as enabling greater data activation in the retail media space.

Arnaud Créput, CEO and Founder of Equativ comments: “After three consecutive years of strong growth, our partnership with Bridgepoint is a key milestone in Equativ’s history as the digital advertising industry continues to rapidly transform. Our vertically integrated platform is now uniquely positioned to offer publishers and advertisers around the world the ability to execute advertising transactions directly and efficiently, without intermediaries, in a brand-safe and transparent environment. This new chapter with Bridgepoint validates our strategy and positioning and will help to provide additional resources to accelerate our investments and achieve our ambitions.”

Olivier Nemsguern, Head of Bridgepoint Development Capital France comments: “Even amid global economic instability, Equativ’s consistent success demonstrates the considerable and accelerating need for independent technology. We have been especially impressed by its emphasis on fuelling mutual gains for all sides of ad trading and providing greater flexibility, which are becoming crucial market priorities as advertisers, agencies and publishers look to optimize returns and revenues. In that perspective, we look forward to working with the Management as we are convinced that we can bring a lot to Equativ through our international platform, our expertise in buy-and-build and our understanding of the adtech universe. Offering an alternative route to efficient advertising outside of walled gardens, Equativ is aligned with what global markets want and need in this fast-paced industry.”

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