Wednesday, April 1, 2009

Kaboose sells to Disney Online and Barclays - Canada based Kaboose Inc., an online media company that owns parenting and family websites in the United States, Canada and the United Kingdom, announced today that it is selling virtually all it's assets to Barclays and Disney Online.

Barclays Private Equity is purchasing Kaboose's UK based Bounty Group Limited.

Disney Online, a unit of Disney Interactive Media Group, will purchase substantially all of Kaboose's North American assets, including all of its online media properties and related businesses.

Some of Kaboose's websites include:

Gross proceeds from this sale will be about $120 Million, which will be distributed to shareholders at an expected value of 65 cents per share. In the last year Kaboose shares have traded over $1.50 C, and as low as 23 cents C.

It's an interesting sale in that Kaboose has esentially built up all these website destinations, and is now selling them to huge media companies. It's a trend we've seen before and that I believe will continue.

Kaboose is a company I've looked into for a few years and considered investing in due to their online focus, high traffic sites and good domains. Shares in Kaboose were trading in the 20 and 30 cent range as recently as December and January. Anyone who bought at those levels will probably enjoy cashing out in the 65 cent range from this purchase.

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