Fraser Finance News

September 2017

SYZYGY Acquires Leading Strategy Firm diffferent GmbH

Fraser Finance has acted as financial advisor to diffferent GmbH, one of the most progressive strategy consulting firms in Germany, on its acquisition by SYZYGY AG, part of WPP.

diffferent has been a long-standing partner to companies such as the Volkswagen Group, Deutsche Telekom, Porsche, MTU, EnBW and IKEA. diffferent provides support for its clients around brand positioning, the development of innovative service and business models and making teams agile and fit for the future and digital transformation. Owners Dirk Jehmlich, Alexander Kiock and Jan Pechmann are remaining on board as managing directors and shareholders. In addition to his duties at diffferent, Alexander Kiock will take up the position of Chief Strategy Officer for the SYZYGY Group.

diffferent was established in 1997 by Alexander Kiock and Jan Pechmann and has 90 employees at its locations in Berlin and Munich. Investing in diffferent enables SYZYGY, a leading digital agency, to boost its consulting and innovation capabilities in order to meet the increasingly complex challenges faced by companies in the digital age. The close integration of strategic consulting with creative services and design, as well as technology and media, means that SYZYGY can now provide even more effective support for clients as they seek to develop sustainable digital business activities, strengthen their brands and inspire their clients and staff.

"In diffferent, we have found a passionate but grounded consulting partner that is a perfect fit with SYZYGY's culture and working methods. Together, we intend to act as partners for all companies in Germany that think big but prefer customised and practical digital strategies, rather than one-size-fits-all solutions and ‘panaceas’. I'm really looking forward to forging unconventional paths in communication and digitisation together with diffferent and our clients," said Lars Lehne, Chairman of the Management Board of SYZYGY AG.

Taking this stake in diffferent is a further step by SYZYGY towards delivering solutions to all digital challenges and opportunities from a single source, while as a corporate group also remaining agile and personal enough to develop and implement individual and original solutions.

  "At this point in time, digital transformation doesn’t need even more ideas or scaling, it first and foremost needs more mindset and substance. And companies don’t need service providers that spew out strategy templates or function as an implementation steamroller; they need people who can help them to articulate their ‘Why’ and shape their reality accordingly. SYZYGY and diffferent are guided by the same principles in this regard. Together, we will help the German business world with its many hidden champions and world market leaders to develop off-the-wall strategies and implement them in an appropriate manner," said Alexander Kiock, managing director of diffferent GmbH.

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October 2016

Episerver Acquires Omnichannel Campaign Management Vendor Optivo

Fraser Finance has acted as financial advisor to Episerver Inc. on its acquisition of Optivo GmbH from Deutsche Post AG. The transaction empowers marketers to orchestrate, execute and optimize immersive experiences across channels.

Leveraging Optivo’s omnichannel campaign management capabilities, Episerver customers can now create and execute more contextually relevant customer interactions across channels, ensuring that the right message is sent to the right customer when and where it should. With the addition of Optivo, digital marketing and commerce professionals using Episerver can now manage and optimize the way customers respond to their campaigns across channels, by simultaneously tracking and predicting their behavior.

“The acquisition of Optivo, which has emerged as a true visionary in terms of real-time customer interaction across channels from a history of dependable and scalable email marketing, is an essential next phase for the Episerver Digital Experience Cloud™ platform,” said Mark Duffell, President and CEO of Episerver. “Not only will Optivo help our customers envisage and then execute their marketing and merchandising strategies faster and more effectively, it also elevates the customer journey to the next level to help organizations attract, engage, convert and care for customers in real-time.”

This announcement comes on the heels of Episerver’s acquisition of Peerius, an enterprise provider of intelligent omnichannel personalization in the cloud. That acquisition advanced Episerver’s vision for autonomous personalization, empowering brands to anticipate behavior and intent in order to engage one-to-one with customers across channels, and to engage anonymous visitors through personification. Episerver expects Optivo’s multidimensional segmentation and event triggering to complement Peerius’ machine learning-based predictive analytics and real-time decisioning. Simultaneously, Optivo will significantly enhance Episerver’s omnichannel campaign management and email marketing capabilities. Completing the picture, Episerver’s content management, commerce, social and mobile marketing strengths will combine with Optivo to truly enable omnichannel immersive experiences.

“We are delighted that Optivo will become a key part of Episerver's Digital Experience Cloud, which correspondingly complements our omnichannel and email marketing solutions perfectly,” said Dr. Rainer Brosch, CEO of Optivo. “We will retain our core strength and focus for the benefit of our customers, and yet be in a position to act even more globally in the future. Together, we expect to accelerate our market presence and reach through Episerver's extensive global footprint, large customer base and comprehensive partner ecosystem.”

The acquisition addresses marketers’ greatest needs. According to a recent survey by Forrester, 52 percent of marketers cited understanding customer behavior across channels and devices as the biggest challenge they expected to face in the next two years. Survey respondents also noted as important increasing or enhancing customer engagement, education or loyalty (38%), integrating online and offline interactions (38%), and attributing marketing performance across interactions (40%).

The newly acquired entity will continue existing operations as Optivo, an Episerver company, while providing infrastructure for Episerver’s continuing expansion into the DACH region, and Optivo managing directors Dr. Rainer Brosch and Thomas Diezmann will remain in their current roles.

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September 2016

Mint Solutions Raises €5M Series B to Fund Rollout of MedEye

Fraser Finance has acted as exclusive financial advisor to Mint Solutions Holding BV, a privately-held Digital Health company in the Netherlands, and leader in Medication Safety. The €5.0m round was lead by Brabant Development Agency (BOM Capital, NL) and existing shareholders LSP (Life Sciences Partners, NL) and Seventure Partners (France).

The new funds will be used to support the rollout of Mint’s proprietary MedEye system, which aims to stop and prevent medication errors and improve efficiency in hospitals and care institutions. Through a combination of innovative hardware and software and seamless integration with hospital information systems, MedEye enables nurses to automatically verify medication at the bedside, thus ensuring that patients get the right medication, in the right dose and at the right time. Following successful deployment at several Dutch hospitals, Mint is preparing to expand into adjacent market segments and additional countries

“This investment comes at a crucial time for our MedEye product. We are experiencing strong demand from Dutch hospitals and we see ample growth opportunity in other care segments, including long-term care, as well as international markets,” said Gauti Reynisson, CEO of Mint Solutions. “The new funding allows us to roll out MedEye and increase medication safety in even more hospitals and care institutions both in and outside the Netherlands.”

“The MedEye system has proven to significantly reduce medication errors, providing a great benefit for both hospitals and individual patients,” commented Miriam Dragstra, Director of BOM Capital.

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May 2016

Exthera Medical raises $15.3m Series B led by Fresenius

Fraser Finance has acted as exclusive financial advisor to ExThera Medical Corporation, a US based MedTech company, leader in innovative blood filtering technology. The $15.3m round was led by Fresenius Medical Care Ventures GmbH (Germany) and included existing investors, and the conversion of the company’s convertible note.

Proceeds from the financing will be used to support European and U.S. clinical trials and regulatory approvals, and to scale manufacturing of the company’s therapeutic blood filter, aimed at reducing mortality and complications from bloodstream infections and blood-borne diseases.

ExThera’s proprietary Seraph® Microbind® Affinity Blood Filter is the only device of its kind capable of capturing and removing a broad range of sepsis-causing bacteria, viruses, toxins and proinflammatory cytokines from whole blood. Validated in preclinical studies, and currently under evaluation in a first-in-man clinical trial in Europe, the device promises to address significant unmet needs for the immediate treatment of suspected or known bloodstream infections.

While ExThera’s immediate focus is on therapeutic applications in high-risk populations such as patients undergoing dialysis, Seraph also has the potential for other applications that could offer far reaching global impact, such as treatment for drug-resistant “superbugs,” and the purification of blood for use by blood banks, which are increasingly vulnerable to the growing threat of emerging pathogens.

“ExThera’s vision is to make life-threatening bloodstream infections unheard of in the future by providing clinicians with a broad-spectrum therapeutic option that allows treatment to begin quickly – even before pathogen identification,” said Robert Ward, CEO of ExThera Medical. "With mortality rates as high as 50 percent for certain bloodstream infections, the continued emergence of drug-resistant pathogens, and fewer anti-infective drugs in development, we see a critical need to address this growing global health issue with safe, accessible and cost-effective solutions. We are pleased to add Fresenius Medical Care Ventures as a supportive investor.”

"As the world’s largest provider of blood purification products and services, we continually look for new technologies for the prevention and treatment of deadly infections for our chronic dialysis and acute care patients,” said Dr. Olaf Schermeier, CEO for Global Research and Development at Fresenius Medical Care. “The mission of Fresenius Medical Care Ventures is to invest in early-stage companies that develop products, technologies and therapies, which could have a significant value for the patient and for health care systems. We believe that ExThera has the team and technology that fits perfectly into our investment portfolio,” stated Florian Jehle, Managing Director of Fresenius Medical Care Ventures.

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February 2016

Social Media Adtz acquires UK rival Glow Digital Media

Fraser Finance has acted as exclusive financial advisor to Adtz, leading social media advertising company in Spain, Southern Europe and Latin America, on its acquisition of London-based Glow Digital Media. The resulting group, rebranded as ADGLOW, is set to become one of the world’s leaders in social advertising planning.

ADGLOW's shareholders include three prestigious investment funds: Onza Venture Capital, White Star Capital and Notion Capital. Following two successive financing rounds, the funds have provided the new company with the necessary liquidity to drive its ambitious expansion in international markets and to invest on an unprecedented level in R&D so as to manage and optimise large scale campaigns. Once the companies have joined together, ADGLOW will operate out of an extensive network of 14 offices in Barcelona, Bogotá, Buenos Aires, Hong Kong, London, Miami, Milán, Mexico D.F., New York San Francisco, Santiago de Chile, Sao Paulo and Singapore, with headquarters in Madrid.

Juan Domínguez, ADTZ's CEO comments: “Building on our solid position in Southern Europe and Latin America and our technologically robust and service-oriented platform ADAM, acquiring GLOW gives us access to global clients requiring a 24/7 service. Glow's expertise in the English-speaking markets and its well-established relationships with large, results-driven clients further enhances our direct-client business line and is a perfect fit with ADTZ's sound track record with agencies."

Damian Routley, Glow's CEO, adds: “Being able to offer a global, scalable service provides an obvious added value for our clients. We're looking forward to seeing these two companies working together, as this will undoubtedly result in a competitive social media expert, equipped with best-in-class technology and an outstanding service offering."

Santiago Izaguirre, Director at Fraser Finance, comments: “Glow’s top-notch customers coupled with its experienced management proved to be a perfect opportunity for ADTZ to expand into the UK and English-speaking territories.”

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June 2015

Digital Health company Lumeon secures $9.4M in Series B funding

Fraser Finance has acted as exclusive financial advisor to Lumeon Limited (fka Qinec), a pioneer in Personalised Healthcare Management, on raising $9.4 million (£6 million) in Series B funding, led by Gilde Healthcare Partners and including existing investors Amadeus Capital Partners and Archimedia.

Qinec personalises the delivery of healthcare, by using real-time data to orchestrate the patient journey resulting in optimal outcomes for patients, providers and payers whilst simultaneously reducing cost. Its cloud-based Personalised Healthcare Management (PHM) platform today supports millions of patient journeys a year across Europe. Qinec will use the funding to scale the team and further expand the business to take advantage of a market predicted to be worth over $1.3 billion. This will enable the company, which counts Alliance Medical and Optegra Eye Health Care as customers, to grow more aggressively within the healthcare IT market.

Qinec has grown on average 100% year on year as commercial healthcare providers recognise that personalising healthcare benefits the patient experience while improving the effectiveness of healthcare delivery. Qinec helps providers deliver better quality of care at lower cost of provision. Qinec’s vision is that its platform will enable a world where the best possible healthcare outcome for every individual is assured.

Robbie Hughes, CEO and founder, Qinec commented: “Whilst every clinician would intuitively recognise that healthcare should be a personalised experience, delivering personalisation at scale has been impossible to date with different systems and stakeholders owning different parts of the patient journey. Qinec looks at the problem differently, providing a single platform to join up pathways across specialties and systems, giving visibility and control to providers”

As part of the investment, Janke Dittmer, partner at Gilde Healthcare, joins the Board as a Non- Executive Director and Erik Masing as an Advisor. Additionally, Qinec is strengthening its executive team with the introduction of Andrew Wyatt as Chief Operating Officer. Andrew brings a depth of experience in successfully scaling software and SaaS businesses, including BroadSoft Inc (NASDAQ: BSFT) where he was VP Strategy and Apertio Ltd where he was Chief Product Operations Officer and interim CEO.

Janke Dittmer noted: “Healthcare providers are being challenged to provide better care at lower cost in an environment that is changing at an increasing pace. Qinec enables healthcare providers to adapt to the changing needs of patients, providers and payers. We look forward to working with Qinec to successfully scale the business to address this clearly identified need.”

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May 2015

ProSiebenSat.1 acquires Putpat TV

Fraser Finance has acted as exclusive financial advisor to Putpat TV, a leading music TV platform and nr. 1 in Germany on smart TVs, smart phones and tablets, on its acquisition by ProSiebenSat.1 Media AG.

With over 3.5m registered users and a network of partners reaching over 18m unique users per month, Putpat TV complements the existing music offering of ProSiebenSat.1 under the AMPYA brand.

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February 2014

Dentsu Aegis Network acquires explido

Fraser Finance has acted as exclusive financial advisor to explido GmbH & Co. KG, a top tier performance agency in Germany, on its acquisition by Dentsu Aegis Network. On completion, explido will be integrated into the existing iProspect business and iProspect brand, forming part of Dentsu Aegis Network in Germany.

Founded in 2002, explido has grown significantly since then to become a leading performance and search agency in Germany. With offices in Augsburg, Hamburg and Frankfurt, explido provides a full range of outstanding capabilities in search marketing, affiliate marketing, display advertising, web development and conversion optimisation as well as social media services. Led by the senior management team of Dirk von Burgsdorff, Matthias Riedle and Andreas Rüttinger, the 135 experts at explido provide full-service performance expertise to clients such as Postbank, Gelbe Seiten, Grohe, Messe Frankfurt, Steiff and Brita. As part of the integration process, the combined iProspect business will be managed by a joint board under the leadership of the existing explido management.

Dentsu Aegis Network Germany continues to strengthen its full-service approach with high quality performance capability in iProspect as well as powerful media, creative digital and out of home expertise in Carat, Vizeum, Posterscope, Isobar and mcgarrybowen.

Nigel Morris, CEO of Dentsu Aegis Network, Americas and EMEA said “Germany is an extremely important market for us and our clients, and is Europe’s economic engine room. With this and the continuous growth in digital and online media spending, there are huge opportunities to drive our innovative, collaborative and integrated approach at Dentsu Aegis Network. “

Explido is a great business which enables us to leverage exciting opportunities for our business in Germany and to further enhance iProspect's position as the leading global performance agency network. The acquisition of explido will extend our services and strengthen business collaboration delivered on a global scale”, added Ben Wood, Global President, iProspect.

Dr. Andreas Bölte, CEO of Dentsu Aegis Network Germany & Central Europe added “We are delighted to welcome the explido family into our German team, to pursue our mission of providing clients and the market with top-performing service, technology and solutions that generate true business value. The acquisition of explido strengthens our approach and enables us to further enhance our digital profile becoming the No. 1 search and performance agency in Germany.”

Dirk von Burgsdorff, Managing Director explido, added “We are excited to be joining the innovative Dentsu Aegis Network and building the new combined iProspect. Sharing the same vision and strategy as iProspect - to apply data and technology and create smart campaigns for customers in digital marketing, we are confident the new combined iProspect will be the catalyst to further extend our digital media capabilities and to generate the benefits of greater scale in Germany.”

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June 2013

Deutsche Post acquires optivo GmbH

Fraser Finance has acted as exclusive financial advisor to optivo GmbH, one of the leading German email marketing providers, on its acquisition by Deutsche Post AG.

The acquisition expands Deutsche Post's portfolio in the online advertising market to include the attractive email marketing sector. "optivo is an ideal addition to our technology solutions in the online advertising market. Since 2010, we have been successively building up our Online Marketing business unit. Our goal is to be a neutral technology service and the first choice for the advertising industry," says Juergen Gerdes, Corporate Board Member for MAIL at Deutsche Post DHL.

optivo offers advertisers technical solutions and services to expand their existing customer base. With its email marketing software, optivo® broadmail, companies can send customized newsletters and campaign emails and evaluate them effectively. The multi- channel solution integrates social media, text messaging, mobile email, web and fax in addition to traditional email. The software can send up to 20 million emails per hour and is easily integrated into existing system architectures such as web analysis and CRM solutions. "Deutsche Post is an established and major player in the online advertising market and is therefore the ideal partner for positioning our innovative technology on an even wider scale. In addition, we benefit from the company's international presence," says optivo CEO Ulf Richter.

optivo's technologies and services are especially suited for cross-media dialogue solutions. Deutsche Post has confirmed how important email marketing is in a number of cross-media campaign management tests with several customers in which combinations of advertising mail and email were among the options that were tested. All cases in the test campaigns clearly showed that a targeted, cross-media approach is considerably more successful then a mono-media approach. "The future of dialogue marketing lies in intelligently integrated campaigns that combine the strengths of both online and offline media. optivo allows us to build another bridge between traditional dialogue solutions and the digital world," says Juergen Gerdes.

optivo was founded in 2001 and today employs around 85 people. The company is one of the market leaders and a trendsetter in professional email marketing. Their innovations in marketing automation and mobile email optimization (mobile fusion) have drawn much attention. Over 850 customers from diverse industries use the company's software and services. These include both medium-sized as well as larger companies and corporations. optivo will become a 100% subsidiary of Deutsche Post. The current management and staff will continue to independently operate the business.

Deutsche Post's parent group, Deutsche Post DHL, already includes other online marketing players. For example, in 2010 Deutsche Post acquired Europe's largest targeting platform, nugg.ad, followed in 2012 by the purchase of intelliAd Media, a leader in bid management for search engine marketing and multichannel tracking.

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September 2012

F2G raises $30m from Novartis and Advent

Fraser Finance has acted as exclusive financial advisor to F2G Limited, the antifungal drug discovery and development company, in its $30m financing round led by Novartis and Advent Venture Partners.

The funds will be used to select a clinical candidate from the F3 series of advanced preclinical analogs and proceed to first in man studies. The F3 series represents a proprietary group of compounds with highly potent and selective activity against Aspergillus species and other moulds, which act via a totally novel mechanism. Aspergillus infections are a serious threat in immune-compromised patient populations and result in a high rate of mortality even with the most effective treatment currently available. Dr Richard White, chairman of F2G, commented, “We are delighted to welcome two top tier investors into F2G. We now have a first class international syndicate, including the venture arms of two major pharmaceutical companies”.

Shane Kelly, previously the CEO, is leaving the company to pursue another opportunity. Dr White will assume the expanded role of Executive Chairman and noted “We would all like to thank Shane for his tireless and steadfast management of the company over the last 10 years and for bringing us to this successful juncture. We wish him well in his new venture”.

Dr Raj Parekh of Advent and Dr Anja König of Novartis Venture Funds will both be joining the board of F2G. Raj Parekh, General Partner at Advent said, “The F2G molecules show a compelling and novel profile and have the genuine potential to be first- and best- in-class agents for the treatment of invasive aspergillosis, which remains a serious unmet medical need. We lookforward to working with Richard and the team to bring these molecules to anearly clinical evaluation."

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June 2011

EQT Expansion Capital backs creation of UDG

Fraser Finance advises UDG United Digital Group on its acquisition of 9 digital marketing agencies and financing by EQT.

Fraser Finance has acted as exclusive financial advisor to UDG United Digital Group GmbH on its acquisition of nine category-leading digital marketing agencies to form the leading digital marketing group in Germany. UDG United Digital Group includes Bassier, Bergmann & Kindler, eWolff, Jaron, kmf, MP Newmedia, New Identity AG, Nonstop Consulting, SF eBusiness, and SUMO. The transaction was sponsored by EQT Expansion Capital.

The nine agencies will maintain their operating independency while simultaneously working as a group to achieve marketing synergies and gain size and reach to present large clients with a comprehensive digital offering. “UDG United Digital Group will be capable of delivering tailor-made solutions relevant to the digital future. It is also important to point out that while the combined strength of UDG United Digital Group is crucial, it consists of individual market leaders which are founded and developed by true entrepreneurs”, says Michael Riese, CEO and founder of UDG United Digital Group.

The enterprise value of UDG United Digital Group amounts to EUR 97 million. The EQT Expansion Capital fund provided equity and debt to finance the acquisitions and capitalize UDG United Digital Group for future expansion. The current owners of the nine agencies reinvest a substantial part of their proceeds in UDG United Digital Group.

The new combined entity has pro forma group sales of around EUR 89 million. It is headquartered in Hamburg and employs around 500 people.

The amalgamation of nine specialized digital services providers makes it possible for UDG United Digital Group to offer a diversified range of digital services that both optimizes communication with the end consumer and supports all aspects of the client’s value chain. Besides services in the areas of Search Engine Advertising (SEA), Search Engine Optimization (SEO), eCRM, Social Media, Affiliate Marketing, eLearning and eBranding, the spectrum of services includes equipping clients with IT-systems or integration of these systems with those of the client.

Following the transaction, EQT Expansion Capital will hold a minority stake in the equity of UDG United Digital Group with current shareholders, the merging agencies, the Board and management holding the majority.

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May 2011

Polestar receives growth financing

Fraser Finance advises Pole Star SA, a leading provider of indoor geo-localisation and navigation solutions in France, on its growth financing

The funds will allow Pole Star to accelerate its commercial deployment both in the US and in Europe while strengthening its technological leadership in areas such as 3D positioning and mesh-based localisation networks. The round was led by iXO Private Equity and Hub Telecom.

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August 2010

Deutsche Post acquires nugg.ad AG

Fraser Finance advises nugg.ad AG on its acquisition by Deutsche Post AG

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June 2010

Hearst acquires iCrossing

Fraser Finance advises certain shareholders of iCrossing, Inc. in connection with its acquisition by Hearst Corporation

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April 2008

iCrossing acquires 3GNet GmbH

Fraser Finance advises 3GNet GmbH on its acquisition by iCrossing, Inc.

Fraser Finance has acted as financial advisor to 3GNet GmbH, a leading digital marketing agency based in Munich, Germany, on its acquisition by iCrossing, Inc. The acquisition extends iCrossing’s leadership in the U.S. and U.K. into the pan-European market, further establishing the company’s global footprint and client base.

One of the longest established digital marketing providers in Germany, 3GNet provides natural and paid search marketing as well as affiliate marketing services to a number of global brands, including eBay and ESPRIT, as well as leading European brands Görtz, Allianz 24, HSE24, baby-walz and O2 Germany. 3GNet will continue to be led by founders Patrick Bertermann, Oliver Grünig, and managing director Gottfried Häuserer, who will report to Don Scales, president and COO, iCrossing.

Headquartered in Munich with an additional office in Berlin, 3GNet will be transitioned to the iCrossing brand. The financial terms of the acquisition were not disclosed.

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October 2007

toplink receives investment from Co-Investor AG

Fraser Finance advises toplink GmbH on its growth financing by Co-Investor AG

Fraser Finance has acted as financial advisor to toplink GmbH, a leading provider of VoIP solutions, on its growth financing by Co-Investor AG. toplink is a leading German provider of voice communication solutions based on a Next Generation Network platform. The investment will allow toplink to roll its VoIP services out to small and mid-sized business customers nationwide, and expand its network of partners. Several manufacturers, incl. Aastra, Innovaphone, Philips, SNOM and AVM have already been certified by toplink.

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June 2007

AOL acquires ADTECH AG

Fraser Finance advises ADTECH AG on its acquisition by AOL LLC

Fraser Finance has acted as financial advisor to ADTECH AG, a leading international online ad-serving company based in Frankfurt, Germany, on its acquisition by AOL LLC. The acquisition provides AOL with an advanced ad-serving platform that includes an array of ad management and delivery applications enabling website publishers to manage, traffic and report on their online advertising campaigns.

ADTECH will operate as an independent and majority-controlled subsidiary of AOL's Advertising.com division and will continue to be based in Frankfurt. The financial terms of the acquisition were not disclosed.

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