Blog - South Florida Business Broker Russell Cohen

Business Broker Russell Cohen

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Business Broker Russell Cohen Blog

Think Partnership Acquires Real Estate School Online Inc.

NORTHBROOK, Ill.–(BUSINESS WIRE)–July 18, 2005–In a move that will make CGI Holding Corporation d/b/a Think Partnership Inc. (the "Company") (AMEX: THK – News) a major player in the growing field of online education, the Company today announced that it has closed its acquisition of Real Estate School Online Inc. ("Real Estate School Online"). ADVERTISEMENT Located in Miami, Fla., Real Estate School Online is a leading provider of online education products and services specializing in delivery of fully accredited real estate licensing and continuing education courses. Already an industry leader in Florida, Real Estate School Online has begun expanding its services to other states. Perry Johannesburg, the president of Real Estate School Online, will continue to serve in that capacity following the merger. The Company has acquired all of the stock of Real Estate School Online in exchange for $2.2 million in cash and CGI common stock with an aggregate value of $2.2 million. Former shareholders of Real Estate School Online will also be entitled to a one-time cash payment of up to $500,000 if the pre-tax earnings of Real Estate School Online exceed specified targets during the first twelve full calendar quarters following the closing. The merger is expected to be immediately accretive to the earnings of Think Partnership. Gerard M. Jacobs, the Company’s CEO, stated, "Real Estate School Online is a growing and highly profitable company with a very scalable business model. While we plan to expand the Real Estate School Online services to other states, we expect Real Estate School Online to realize over $1.6 million of pre-tax income over the next twelve months without the benefit... read more

Best buys: Tight capital leads to mergers

Harry Hishon, president of Top’s Choice merges with Innovative Ideas & Solutions. Buyer & seller brought together by Russell Cohen of Transworld Business Brokers in Fort Lauderdale. Top’s Choice an office furniture dealer has been acquired by Innovative Ideas & Solutions TRANSWORLD BUSINESS BROKERS THE SOUTH FLORIDA BUSINESS JOURNAL A corporate fire sale may be getting hotter. Three public companies in South Florida have announced planned mergers in recent days and a banking deal got a $175 million nod from the state. Acquisitions are heating up since corporate valuations have ebbed, experts say. The buyers’ market comes as companies looking to raise money retreat from public markets rocked by fraud scandals and economic pressures. ProxyMed’s (Nasdaq: PILL) $24 million purchase of MedUnite earlier this month followed word of AmeriPath’s (Nasdaq: PATH) purchase of a medical practice in Georgia and a laboratory in Utah. AmeriPath, which closed four acquisitions in the fourth quarter, now faces a shareholder lawsuit attempting to halt its planned $840 million merger with companies formed by buyout firm Welsh Carson Anderson & Stow. Admiralty Bancorp (Nasdaq: AAAB) won approval from Florida’s Department of Banking and Finance for its merger with RBC Centura Banks (NYSE: RY), the U.S. banking subsidiary of Royal Bank of Canada, on Jan. 7 in a deal worth $150 million.On Dec. 20, Daleen Technologies (OTC BB: DALN) acquired the assets of privately held Abiliti Solutions in a reverse merger. "Valuations are pretty low, companies are undervalued, and there are some bargains out there now," said Mark Bloom, co-chairman of the National Reorganization, Bankruptcy & Restructuring practice at Greenberg Traurig in Miami. Bloom is... read more
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