10-Q Watch: CNET: 15.6 Million Spent on Three Q3 Acquisitions
By Joseph Weisenthal - Mon 05 Nov 2007 02:45 PM PST
CNET (NSDQ: CNET) spent $27.4 million on seven acquisitions through the first nine months of the year, according to its 10-Q filed with the SEC Monday. (The breakdown: $24.6 million cash, $0.6 million in direct acquisition costs and $2.2 million in deferred consideration costs.) At the midpoint of the year, the company said it had acquired four companies for $11.8 million, meaning it’s spent $15.6 million on three deals since then. Though not mentioned by name in the filing, the three reported deals this quarter were sports video game site Sportsgamer.com, Chinese fashion site OnlyLady and the TechTracker family of IT-related sites. The price tag for each deal hasn’t been broken out, although the biggest seems to have been Sportsgamer, which was likely in the high six-low seven figure range.
When the company announced its most recent quarterly, it said it was selling off its photo-sharing site Webshots and that it could do more divestments. But it gave no indication that its divestment stance would be accompanied by a lull in acquisitions.
Posted in: Companies, CNET, Money, VC+M&A
Tags: sportsgamer, onlylady, techtracker,
