NEWS16 December 2010

Communispace looks for a buyer for $100m – report

M&A North America

US— Rumours are circulating that online community builder Communispace is in the market for a buyer, with a reported $100m price tag around its neck.

AdAge quotes “industry executives familiar with the negotiations” reporting that venture capital firms, technology companies and marketing agency holding companies have all taken a look at the business, with only Omnicom being named.

“We don’t comment on rumours,” said Communispace CEO Diane Hessan (pictured) when Research sought to gauge the veracity of the report.

The firm, based in Massachusetts, has been in business since 1999. In August it reported a 29% increase in first-half revenue, with sales hitting $22.5m, up from $17.4m in the same period last year.

Communispace’s website lists Best Buy, Coca-Cola, Heinz, MTV, Philips and Unilever as clients, among others.