Pasadena, California – September 2004
New.net, Inc., an Internet search and navigation company, announced that it has merged with The Vendare Group, a full-service provider of performance-based online marketing solutions. Hadley Partners served as advisor to New.net and issued a fairness opinion to the board of directors of New.net in connection with the transaction.
"We are very excited to close this merger that will enable us to diversify our business and capitalize on the strengths of both companies," said Dan Sheehy, the chief executive officer of New.net. "The Internet search industry is growing extremely rapidly, and we believe our search business is very complementary to Vendare’s media business. This merger also gives the combined company the size and scale necessary to be a strong player in this sector. Hadley Partners did a great job as our advisor. They helped us obtain full value for our shareholders and they were extremely professional and responsive."
This announcement is for informational purposes only, and does not represent either an offer to sell securities or a solicitation of offers to purchase securities.
New.net competes in the online search and registry industries. New.net’s Quick!Search/Toolbar and ISP/Software Search business lines serve relevant search results for users who have typed search queries or invalid URLs into their browser. New.net also markets and maintains registries for new domain names in addition to utilizing proprietary algorithms to acquire and monetize a portfolio of domain names.
About The Vendare Group
The Vendare Group (“Vendare”) provides services through three divisions. Its Syndicated Media division develops, sells and distributes Internet advertisements through an expansive network of third-party websites. Vendare’s Commercial E-Mail division creates and sends targeted, permission-based e-mail advertisements to individuals drawn from a proprietary database. Lastly, Vendare, through its Web Publishing division, creates and serves Internet advertisements through company-owned websites.
About Hadley Partners
Founded in 1999, Hadley Partners always seeks to provide the highest-quality merger & acquisition advisory, private placement and financial advisory services. We have a world-class team of veteran bankers that bring Wall Street experience to middle-market and emerging growth companies. Our goal is to develop relationships of trust with the leaders of these companies and with investors that pursue investment opportunities in such companies. We provide our services in a fair and flexible manner, and we always put our clients’ interests first. Hadley Partners is a registered broker-dealer, and a member of the National Association of Securities Dealers and the Securities Investor Protection Corporation.
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