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NEW YORK TIMES (February 27, 2010) Austin Ventures has three entrepreneurs in residence, who are starting companies, and 13 C.E.O.'s-in-residence, who help the firm find late-stage companies to invest in and then run the businesses. Austin hires people it has worked with previously as well as people it doesn't know. "We kind of had an epiphany," says Phil Siegel, an Austin partner. "The competition and the need for talented people is in some ways a lot harder than the competition for deals." Today, 40 percent of the firm's deals come from one of these programs.. Read the full article... Sara Nelson's Book Review: The Curse of the Mogul, Jonathan Knee Any media executive who doesn't "get" The Curse of the Mogul--or anyone who doesn't think it will be a long-term bestseller--proves the point that authors Jonathan A. Knee, Bruce C. Greenwald, and Ava Seave are making throughout the book: most media companies--from Rupert Murdoch's Newscorp to Sumner Redstone's Viacom, with lots of music and magazine and book companies in between--have their proverbial heads in the sand, operate on an outmoded business model that was probably always destined to fail, and stick with their old ways out of fear, inertia, and, yes, vanity. Asset International Appoints Thomas Wright STAMFORD, CT, October 19, 2009 – Asset International, Inc. (“AI”), a global publisher and information provider to institutional investors and other financial enterprises, announced that Thomas Wright has been appointed Chief Financial Officer. He reports to Jim Casella, Chief Executive Officer. Read the full press release... No More Excuses, and a Changed Perspective This is a guest blog post by Jag Alexeyev, head editor and author of Strategic Insight’s international publications on fund management and the architect behind the Simfund Global analytical platform. The meteoric success of Carmignac, an investment manager based in Paris, is forcing the industry to think again beyond its box. In just one year, Carmignac’s flagship fund went from #40 in assets in Europe to number one. Overall the boutique captured $15 billion of net inflows through the summer, while many other companies struggled to get back on their feet. How did they do it, and what does it mean for the industry? Read the entire article... Dow Jones/LBO Wire The Big Idea 2010 Asset International Agrees to Acquire Strategic Insight Research Provider to Mutual Fund, Retirement Income and Wealth Management Industries Worldwide NEW YORK, July 29, 2009 - Asset International, Inc. ("AI") has agreed to acquire Strategic Insight ("SI"), a research and technology firm serving the investment management industry. SI will join Asset International's other prominent industry brands, including PLANSPONSOR, PLANADVISER, Global Custodian, ai5000, and The Trade. Austin Ventures Invests $20 Million More In Casella’s Asset International Asset International Names Jason Cassidy STAMFORD, CT, July 6, 2009 - Asset International, Inc. ("AI") announced that Jason Cassidy has been appointed Senior Vice President of Strategy and Development. He reports to Jim Casella, Chief Executive Officer. In this newly-created position, Mr. Cassidy oversees and implements initiatives consistent with Asset International's goal to be the next-generation media company for the financial services industry. Read the full press release... Asset International Agrees to Acquire The Trade, Leading Chronicler of Buy-side Electronic Trading Space LONDON AND NEW YORK, June 25, 2009 - Asset International, Inc. ("AI") has agreed to acquire The Trade Ltd, a London-based firm that directly and through major events provides institutional investors with news and other specialty content focused on buy-side electronic trading. "The Trade is an essential building block in our bid to become the foremost provider of information to institutional investors worldwide," said James Casella, Chief Executive Officer of Asset International. He noted that The Trade's media portfolio complements Asset International's institutional media, including Global Custodian, PLANSPONSOR and the newly-launched ai5000, which is directed at the 5000 largest pools of capital in the world. Read the full press release... B2B Media Business on the Recovery: A Sneak Preview Asset International Buys The Trade Stamford, Connecticut-based Asset International announced last week that it purchased The Trade Ltd, the London-based publisher of The Trade and other products targeting institutional investors and the buy-side electronic trading community. The deal—an all-cash transaction for which CEO Jim Casella declined to reveal terms—was the first for Asset International, which itself was purchased by private-equity firm Austin Ventures in December 2008.. Read the full press release... ASSET INTERNATIONAL ADDS EXPERIENCED MEDIA INDUSTRY April 14, 2009 - STAMFORD, CT - Today Asset International announced the appointment of Jane L. Aboyoun to the newly created position of Senior Vice President/Chief Technology Officer, reporting to Chief Executive Officer Jim Casella. Read the full press release... ASSET INTERNATIONAL EXPANDS MANAGEMENT AND March 16, 2009 - STAMFORD, CT - Asset International today announced the appointment of Stephen Moylan, 47, to the newly-created position of Executive Vice President, Sales and Marketing, reporting to Chief Executive Officer Jim Casella. Mr. Moylan will oversee the maintenance, growth and expansion of Asset International media products, including well-established brands PLANSPONSOR, PLANADVISER and Global Custodian. He also will employ his proven experience in online publishing to direct Asset International's expansion strategies in web-based and alternative media. Read the full press release... AUSTIN VENTURES TO ACQUIRE ASSET INTERNATIONAL Stamford, CT, & Austin, TX, December 22, 2008 – Austin Ventures “AV”, with $3.9 billion of capital under management, today announced the signing of definitive agreements to acquire Asset International, a global financial information provider that produces industry-leading publications such as PLANSPONSOR, PLANADVISER, and Global Custodian that have served for more than a decade the needs of global pension funds, asset managers, financial advisers, banking service providers, and other financial institutions. The infusion of capital and management expertise will enable Asset International to greatly expand its existing offerings and to launch new and innovative products into the global funds management industry. Read the full press release... Vets size up M&A market Economy Will Impact Billion-Dollar Deals; Old Media Should Buy New Media Ex-RBI CEO To Reed: Cut Asking Price, Break It Up Jim Casella to Speak at ContentNext Media’s |
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| Back to Top | Vets size up M&A market Long-time publishing executives Jim Casella and Tom Kemp say dealmaking has dropped off sharply The deepening recession has brought dealmaking in the b-to-b media space almost to a standstill. That's the word from Jim Casella and Tom Kemp, veteran b-to-b media executives who launched media M&A companies of their own in the past two years. “This quarter is going to be one of the slowest we've ever seen,” said Casella, chairman-CEO of Case Interactive Media, a New York-based private equity firm he founded last year that focuses on acquiring companies with annual trailing EBITDA of $5 million to $25 million. “We haven't seen anything like this since the quarter following 9/11. Not a lot is going on.” Casella, former vice chairman of Reed Business Information, said M&A activity had slowed across all sectors of b-to-b media. He said strategic companies and private equity firms, including his own, continue to pursue deals, but he predicted these will be fewer in number and on a smaller scale than in previous years. Kemp, CEO of Oakstreet Media, a media acquisitions firm that he launched this past spring after serving as CEO of Miller Freeman and Penton Media and managing director of media investment bank Veronis Suhler Stevenson, echoed Casella's bleak assessment. “Earlier in the year we had weakness in the credit markets, but you could still find lenders for smaller deals,” he said. “But this has become a full-blown economic downturn. Trying to get anyone to make [financial] commitments or write checks is now very difficult. No one wants to buy a company on its way down and then spend the next two years trying to break even.” Kemp, whose firm focuses on lower-midmarket b-to-b media and information companies, said he had been working on “a few deals” but gave no details. He said a deal that fell through last spring had been resurrected recently after the seller acknowledged that the price it had been seeking was now unrealistically high. “Sellers have gotten the message that their companies are now worth less,” Kemp said from his office in New Canaan, Conn. “They realize that if they want to sell, they must be more cooperative and flexible on pricing.” Case Interactive Media, which is backed by Austin Ventures, is better positioned than many media acquisition firms to make deals without taking on debt, Casella said. But even with this advantage, he said, the company has only two deals in the works, both of which he characterized as “relatively small.” Casella predicted that business conditions wouldn't improve substantially until the second half of next year. “This is not something that is going to end on the first day of the Bush-Obama transition,” he said. “The first quarter of "09 will be difficult. I hope to see a little daylight in the second.” Jim Casella to Speak at ContentNext Media’s New York – (October 14, 2008) – Case Interactive Media announced today that Jim Casella, Chairman & CEO, will be serving as a panelist addressing the future of the business media at ContentNext Media’s second-annual Future of Business Media (FOBM) conference. Taking place on Tuesday, October 28, 208 from 7:00 a.m. – 6:00 p.m. EDT at the Jim Casella, Chairman, CEO, Case Interactive Media, Inc.
Guests are encouraged to register for FOBM by visiting ContentNext Media online at http://www.fobmconference.com/index/. We are particularly interested in companies that have demonstrated that they have grown quickly in response to the needs of their customer base. For example, lead generation companies that have a direct relationship with their client base. We are also very interested in companies that have a proven subscription base business, as well as, those that are advertising driven. About ContentNext Media, Inc. July 23, 2007 Press Contact: |
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| Back to Top | min's B2B | News, Analysis and Strategies on Business-to-Business Media Monday, May 7, 2007 Volume 10 No. 17 Jim Casella: Is There Life After Reed? "There is, although it's a different life," says Jim Casella, ex-vice chairman of Reed Business Information, who has since signed on as a sort of CEO-in-residence with Austin Ventures, a venture capital/PE firm based in Texas, to form Case Interactive Media (min's b2b of 2/26). "It's focused on looking at potential properties to acquire. The vast majority of what I did at Reed was operating." It's been about two months since Casella made the move. Aside from moving from the position of operating to looking for a company to buy, Casella is moving from a situation where he has to deal with thousands of employees to one where he works basically in seclusion. "I think basically, you do really need to be self-directed in this type of environment, and I like that. I've been enjoying it. I'm working closely with a small team at AV. It's a change of pace when you go from thousands of people to a handful," says Casella. "Having said that, I am looking forward to the day when we find a company or companies that we're going to focus in on and actually run on a day-to-day basis." What kinds of companies? "Somebody asked me the other day if I would be interested in a property that was 10% online, and I said no, because, from an investment standpoint, that's too long for development for our timeline. I'm particularly interested in companies that have some lead generation aspect." |
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Austin Ventures Backs B2B Publishing Platform February 26, 2007 By Shasha Dai Austin Ventures has launched a business-to-business publishing platform, Case Interactive Media, believing that the Internet is changing the media and advertising industries in big ways. As with its other growth equity investments, Austin Ventures is backing an experienced industry executive - this time James Casella, formerly with B2B company Reed Business. Casella spearheaded Reed Business' global expansion, and was instrumental in directing its print and electronic titles. Prior to Reed Business, Casella had been with International Data Group, ABC Consumer Magazines, and HBJ Media Systems. Austin Ventures has committed an undisclosed amount of equity capital to the new platform, and will own majority stakes in the assets the company acquires. A "prudent amount" of debt will also be used to finance tacquisitions, according to Partner Phil Siegel. Casella, 58, fielded calls from an executive search firm about two years ago that was acting on behalf of Austin Ventures. The firm was looking for a leader of a new B2B publishing business, and whittled the list of potential leaders of the new business down to a handful of finalists, including Casella. Austin Ventures was impressed with Casella's experience and "stellar reputation," Siegel said. Casella has a "strong understanding of where the industry is headed ... and knowledge about what assets are in the market," said Partner Craig Milius. Casella and Austin Ventures also see eye to eye on the impact of the Internet on the media industry. Case Interactive Media will look to acquire electronic media companies or print publishers that have moved operations substantially online, Casella said. It will target businesses with Ebitda, or earnings before interest, taxes, depreciation and amortization, of between $15 million and $20 million, with revenue from online venues growing at least 25% annually. While it won't go after specific industries, Case Interactive Media will initially focus on publishers that service the energy, health care, and information technology sectors, said Casella. The company could be a potential buyer of online media assets from private equity or venture capital firms, said Casella. Those firms include Audax Group, Nautic Partners, Wind Point Partners, Spire Capital Partners, Veronis Suhler Stevenson, and Leader Ventures. Case Interactive Media will also look to buy corporate carve-outs or stand-alone businesses, Casella said. Growth equity is one of two prongs of Austin Ventures' investment focus, the other being venture deals in Texas. The firm is currently deploying the $525 million Austin Ventures IX LP, a diversified fund raised last year for early- and late-stage venture, as well as growth equity investments. |
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AUSTIN VENTURES ANNOUNCES PARTNERSHIP WITH JAMES CASELLA TO FORM B2B MEDIA COMPANY Business-to-Business Veteran forms Case Interactive Media February 26, 2007 AUSTIN, Texas. Austin Ventures (AV) today announced that it has entered into a partnership with James Casella to form Case Interactive Media (CIM). The new company, headquartered in New York, will focus on acquiring and operating businesses in high-growth sectors of business-to-business media and publishing markets. AV has committed a significant amount of equity capital to support management's strategy to build a leading media company through both organic growth and acquisition. Mr. Casella will serve as Chief Executive Officer of CIM. Prior to forming CIM, Mr. Casella served as vice chairman of Reed Business, the world's largest B2B company, where he focused on the global expansion of Reed's major brands, concentrating primarily on China, India and Russia. Prior to this assignment, Mr. Casella served at CEO of Reed Business Information (formerly Cahners) for four years where he provided North American leadership to the print and electronic properties, including Variety, Publishers Weekly, Broadcasting & Cable, and EDN, at a time of significant change. Among his accomplishments, Mr. Casella led the successful rebranding of Cahners to Reed Business Information (RBI), led the significant expansion of RBI's Web offerings, and substantially boosted RBI's profitability through operational improvements. Over the course of Mr. Casella's career, he has held numerous other senior leadership roles, including Chief Operating Officer at International Data Group (IDG), President and CEO of PennNet (now PennEnergy), President of ABC Consumer Magazines, a division of Capital Cities/ABC, and Vice President of Sales and Marketing for HBJ Media Systems at Harcourt Brace Jovanovich. "We are thrilled to be working side by side with Jim to launch and build CIM. He's a skilled operator, passionate leader, and flexible thinker who's driven growth and created tremendous value in both small and large companies, emerging and established markets, throughout periods of recession and prosperity over a 30+ year career", said Craig Milius, AV Partner. "It's an exciting time in the media markets as many traditional publishing businesses continue their search for strategies to jump start their movement to online platforms. Jim's past success with both formats will undoubtedly appeal to a wide range of business owners that are contemplating such a transition" added Phil Siegel, AV Partner. "The Internet will continue to impact the way publishing businesses bring buyers and sellers together, to generate leads. During this transition process, there will continue to be disruptions. Owners of unique brands will be presented with great opportunity to reach new audiences. It's truly an ideal time to be building a leading media business, and I look forward to meeting and sharing my experiences with the entrepreneurs and executives behind these businesses in the coming months," said Mr. Casella. I spent considerable effort evaluating potential equity sponsors to help me launch and build CIM - AV's resource-intensive approach and track record of success in partnering with other proven CEOs to form and build leading growth companies was the deciding factor for me to finalize my decision to partner with them." AV's relationship with Mr. Casella is part of our stated strategy to partner with talented executives with proven track records to build growth companies in attractive markets. AV has a dedicated in-house talent function that identifies executives that want a hands-on partner in building their next business. About Austin Ventures Austin Ventures has been working with talented entrepreneurs to build valuable companies since 1979. With $3 billion under management, AV is the most active venture and growth equity firm in Texas, and one of the most established in the nation. With a focus on business services, information services, integrated media, computer and communications hardware, and enterprise software, Austin Ventures invests at all stages of company development, from $100,000 "planned experiments" to $50+ million investments in management buyouts. Visit www.austinventures.com for more information. Casella Quick To Move On min's b2b, February 26, 2007 |
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