Yazam, the provider of seed-stage funding and business development services to emerging Internet and technology start-ups, has been sold to US technologies, which funds and manages early stage and emerging growth technology companies, for an undisclosed sum. The sum involves both shares and cash.
This deal was effective February 15. However, in the previous month Yazam, after barely six months of ownership, announced that it was selling the European networking group First Tuesday back to its founders for an estimated $1 million. Yazam acquired First Tuesday in July last year for an estimated $50 million, although at the time it was widely reported that the consideration was met by a combination of cash (approximately GBP2 million) and the remainder was satisfied in Yazam shares.
Since it’s formation in 1999 Yazam has been the acquisitive party. In August last year it bought Financial Communications Associates, a US provider of investor relations services and Gregory Communications, a US public relations firm. And in September last year it acquired Todo Technologies, a Japanese provider of business consulting services.