Electronic Publishing Firm Accelerates Search for Acquisitions to Fuel Growth
BURLINGTON, N.J., Sept. 6 /PRNewswire-FirstCall/ -- Franklin Electronic Publishers, Inc. (AMEX:FEP) today announced that it has expanded the scope of its engagement with North Haven Partners, Inc. to help identify and consummate acquisitions to grow and expand its core businesses. Franklin has had an investment banking relationship with North Haven since July of 2006 that was previously focused on linguistic technology acquisitions for its Proximity Technology Division.
"Now that we've turned the corner, have cash on hand and access to additional financing, we're well equipped to be seeking accretive acquisitions to help fuel our long term growth," said Toshihide Hokari, Franklin's Vice President and Chief Corporate Development Officer. "Franklin is pleased to be expanding its advisory service relationship with North Haven to help identify and consummate acquisitions for its global initiatives. We're looking at companies that fit well with our core business units today financially, strategically and culturally, that can increase our channel relevance and that can provide technology to fuel organic growth," he added.
"We value our relationship with Franklin and are pleased to be expanding the scope of our engagement beyond Proximity," said Patrick Tipton, North Haven's Managing Partner. "With its experienced and disciplined management team, internationally recognized brand, low-cost manufacturing and an enviable retail distribution channel, we believe Franklin will thrive with one or more strategic acquisitions." Financial terms of the arrangement were not disclosed.
About North Haven
North Haven Partners, Inc. was established in 1998 to provide M&A advisory services to middle market and growth stage businesses. North Haven specializes in working with digital media and technology-enabled services companies. North Haven delivers years of senior investment banking experience, a blue chip network of industry and financial contacts, and a commitment to exemplary customer service to a limited number of engagements each year. North Haven is located in New York, New York. (http://www.northhavenpartners.com/) About Franklin Franklin Electronic Publishers, Incorporated (AMEX:FEP) is a world leader in electronic handheld information, having sold more than 39,000,000 electronic books since 1986. Current titles available directly or through partners number more than 40,000 in sixteen languages under license from world class publishers, such as Merriam-Webster and HarperCollins, focused in five genres: Learning, Language Learning, Travel, Spiritual, and Leisure. The Company also licenses its underlying technology to an array of partners including Adobe, Sun Microsystems and Ademco (a division of Honeywell). Franklin distributes ROLODEX(R) Electronics branded organizers worldwide and SEIKO branded reference products in North and South America, Australia and the European Community. Franklin's products are available at 45,000 retail outlets worldwide, through catalogs, and online at http://www.franklin.com/.
ROLODEX(R) is a registered trademark of Berol Corporation, a subsidiary of Newell Rubbermaid Inc. SEIKO is a registered trademark of SEIKO Corporation.
Except for the historical information contained herein, the matters discussed throughout this release, including, but not limited to, those that are stated as Franklin's belief or expectation or preceded by the word "should" are forward looking statements that involve risks to and uncertainties in Franklin's business, including, among other things, the success of North Haven's efforts. DATASOURCE: Franklin Electronic Publishers, Inc.
CONTACT: Toshihide Hokari, Vice President, Chief Corporate Development Officer, of Franklin Electronic Publishers, Inc., +1-609-386-2500, ; or Patrick Tipton, Managing Partner, of North Haven Partners, Inc., +1-212-332-4392,
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