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JUPITERMEDIA ACQUIRES HEMERA
November 18, 2004
Jupitermedia Corporation has announced that its wholly-owned subsidiary JupiterImages Corporation has acquired all of Hemera Technologies Inc. ( www.hemera.com )
for approximately U.S. $7.3 million in cash. Hemera Technologies. Hemera is based in Gatineau, Quebec, Canada and sells RF images on CD and DVD as well as by download over the Internet, individually or through subscription, through its Ablestock.com ( www.ablestock.com )
and ImageExpress.com ( www.imageexpress.com ) Web sites.
"The acquisition of Hemera's images and business operations solidifies JupiterImage's position as one of the largest organizations in the business of selling royalty free digital images by download or online subscription" stated Alan M. Meckler, Chairman and CEO of Jupitermedia Corporation. "Hemera's collection of over 600,000 wholly owned digitized images, which includes photos, photo objects and clipart, increases our position as the largest owner of wholly owned digitized images in the world. We anticipate significant marketing and business synergies between the Hemera business and image assets and our JupiterImages division as well as our other Jupitermedia properties. We expect that this acquisition will be accretive to our earnings and cash flows," added Meckler.
Based on the acquisition price I estimate that gross annual revenues of Hemera were in the range of $3.5 to $4 million. The photography and illustration brands they now control -- Comstock, Art Today and Thinkstock and Hemera - should generate in excess of $30 million in 2005. On the other hand, I fully expect them to add significant additional content and acquire additional brands in the coming year.
Jupitermedia is now unquestionably the leading seller of images through subscription in the world. I believe that close to $20 million of their revenue next year will be generated through subscriptions. The only remaining subscription brand of any size that Jupitermedia does not own is Liquid Library ( www.liquidlibrary.com ).
This brand is part of the Creatas/Dynamic Graphics group.