Columbia West Capital ("CWC") is pleased to announce a successful financing for PV Media Group's acquisition of two leading online companies: AdOn Network, which provides innovative contextual and behavioral advertising solutions for advertisers and publishers, and Prime Visibility, a rapidly expanding search engine marketing (SEM) company specializing in Search Engine Optimization (SEO), Pay-Per-Click (PPC) and PPC Search Engine Internet Marketing. The two acquisitions marked the formation of PV Media Group, headed by CEO Steve Rosenberg. A veteran studio executive, Rosenberg previously served as President of Universal Domestic Television and head of USA Networks Television Group. Rosenberg will lead a senior management team that can leverage its experience and relationships in traditional media with the combined company's ad network and engine optimization search capabilities. The transaction value was undisclosed, but PV Media is well capitalized to take advantage of further acquisition opportunities of complementary assets. In addition to Mr. Rosenberg, PV Media's management team includes CFO Richard O'Connor, former vice president of finance and operations for Universal Domestic Television, COO Seth Page, a specialist in mergers and acquisitions, private equity and venture capital for the technology, media and telecommunications sectors, AdOn Network President Steve Armstrong, with more than a decade of experience in fast-growing, innovative technology companies, including PayPal, and Prime Visibility President Andrew Hazen, a leader for more than a decade in the SEO space.
"We will be very opportunistic about putting stakes in all forms of the rapidly expanding interactive sector," Rosenberg said. "We're off to a great start by acquiring AdOn Network and Prime Visibility, two leading and complementary online marketing companies that will only get better by offering more services to their customer bases. And with our deep relationships in the traditional media space, we are in a strong position to help enhance their brands' online presence and drive traffic in a fast-growing online advertising market."
CWC, along with co- manager, East Peak Advisors, helped to arrange the equity financing led by Chicago-based private equity firm Bridge Investments LLC to bring together the two highly profitable companies into a single entity with more than 100 employees. Bridge Capital stated they are backing PV Media Group because of its extraordinary management team, which has a unique vision of the marketplace and the ability to see distinct opportunities that will allow us to capture a large share of the ever-growing online advertising pie.