SHANGHAI & ATLANTA--(BUSINESS WIRE)--Mar. 23, 2015--
Tiger Media, Inc. (“Tiger Media” or the “Company”) (NYSE MKT: IDI), a
Shanghai-based multi-platform media company, is pleased to announce that
it has completed the acquisition of The Best One, Inc. (“TBO”), parent
company of U.S.-based data solutions provider Interactive Data, LLC
(“Interactive Data”) (the “Acquisition”). Interactive Data is
headquartered in Atlanta, GA and has its primary technology office in
Seattle, WA. In connection with the Acquisition, the Company has
completed the domestication of Tiger Media as a Delaware company and a
reverse stock split of the Company’s ordinary shares at a ratio of
one-for-five that went effective after the close of business on March
19, 2015. The Company’s common stock continues to trade on the NYSE MKT
under the symbol IDI with a new CUSIP of 88674Y 105.
“The Best One presents a strong opportunity for Tiger Media to enter the
scalable data fusion space alongside some of the prominent names in the
industry,” commented Dr. Phillip Frost, Tiger Media’s largest beneficial
owner, and CEO and Chairman of OPKO Health, Inc. (NYSE: OPK). “As a
large shareholder of Tiger Media, I am pleased with the direction of the
Company and its entrance into potentially lucrative new markets through
this acquisition.”
In addition to TBO serving as Tiger Media’s U.S. channel for expansion
of its China operations, the Company now has an established presence in
the data fusion industry through the Acquisition. Interactive Data has
successfully brought several data products to market which are realizing
substantial growth and adoption as it continues to enhance its
offerings. Tiger Media will look to TBO’s veteran management team to
continue its aggressive growth plan in the multi-billion dollar data
fusion industry.
With over half a century of combined industry experience, TBO’s
leadership is led by its Chairman Michael Brauser. As an investor and
operator in the data fusion market since its infancy, Mr. Brauser has
built market leading companies with revenues totaling over $2 billion.
“We are pleased to consummate this merger and we are all enthused to
join the Tiger Media team,” commented Derek Dubner, CEO of TBO. “We
believe that the combined entity will capitalize on immediate synergies
that shall further facilitate and expedite our growth plans, delivering
significant value creation for our shareholders.”
Derek Dubner, CEO of TBO, and Peter Tan, CEO of Tiger Media, now serve
as Co-CEO’s of the combined entity. Robert Fried remains Tiger Media’s
Chairman of the Board.
About Tiger Media, Inc.
Tiger Media is a Shanghai-based multi-platform media company in China
which provides advertising services in the out-of-home advertising
industry, including iScreen Outdoor LCD screens, billboards and street
furniture. Tiger Media’s network of street level LCD screen displays,
which captivate eye-level awareness, is complemented by outdoor
billboards which are mostly built on rooftops with good visibility from
far distances. Tiger Media’s network attracts advertising clients from a
wide range of industries including telecommunications, insurance and
banking, automobile, electronics and fast moving consumer goods. Learn
more at www.tigermedia.com.
About Interactive Data, LLC
Interactive Data is a data solutions provider, historically delivering
data products and services to the Accounts Receivable Management (ARM)
industry for location and identity verification, legislative compliance
and debt recovery for over a decade. Interactive Data has served a niche
segment of the risk management industry, consisting of collection
agencies, collection law firms, and debt buyers. Interactive Data has
recently expanded the executive leadership team, adding significant
industry experience. Immediate capital infusion drives an enhancement
and broadening of current offerings as well as expansion into new
markets and services. Learn more at www.id-info.com.
FORWARD LOOKING STATEMENTS
This press release contains "forward-looking statements," as that term
is defined under the Private Securities Litigation Reform Act of 1995
(PSLRA), which statements may be identified by words such as "expects,"
"plans," "projects," "will," "may," "anticipate," "believes," "should,"
"intends," "estimates," and other words of similar meaning. Such forward
looking statements include statements about the anticipated benefits of
combining Tiger Media and TBO, expectations resulting from the closing
the Acquisition, whether Tiger Media can successfully enter the scalable
data fusion business, whether the combined entity will capitalize on
immediate synergies that will further facilitate and expedite our growth
plans delivering significant value creation for our shareholders, as
well as other non-historical statements about our expectations, beliefs
or intentions regarding our business, technologies and products,
financial condition, strategies or prospects. There are a number of
important factors that could cause actual results or events to differ
materially from those indicated by such forward-looking statements,
including: the risk that the business of TBO may not be integrated
successfully; the risk that the transaction may involve unexpected costs
or unexpected liabilities; the risk that synergies from the transaction
may not be fully realized or may take longer to realize than expected;
and the other risks set forth in Tiger Media’s Annual Report on Form
20-F, filed with the SEC on March 31, 2014, and Tiger Media’s proxy
statement for the Special Meeting of Ordinary Shareholder held on March
17, 2015, filed with the SEC on February 13, 2015, as well as the other
factors described in the filings that Tiger Media makes with the SEC
from time to time.
The forward-looking statements contained in this press release speak
only as of the date the statements were made, and we do not undertake
any obligation to update forward-looking statements, except as required
under applicable law. We intend that all forward-looking statements be
subject to the safe-harbor provisions of the PSLRA.
Source: Tiger Media, Inc.
For Tiger Media, Inc.
MDM Worldwide Solutions
David Zazoff,
646-403-3554