Euro RSCG Worldwide announced it is pulling out of the Intel review, for which it was the incumbent. In a statement issued last week, Euro RSCG stated, "It has become increasingly clear that Intel's drive toward business transformation would inevitably lead to a change in agencies. After much consideration, Euro RSCG decided its talent and resources would be better focused on our current clients and the high-profile new business competitions we are involved in." Intel declined to comment on the finalists still involved in the review. A decision is expected by the end of the first quarter.
TechTarget secures additional $15 million
Fresh from completing a $40 million cash acquisition of Bitpipe, information technology media company TechTarget announced last month it has secured $15 million in Series C funding. Greg Strakosch, TechTarget CEO, said the company would use the money to fund organic growth, acquisitions and international expansion. The company raised $70 million in venture capital funding earlier in 2004. Technology Crossover Ventures and Polaris Venture Partners, both of which were already investors in the company, provided the latest round of funding.
United Business Media to delist from Nasdaq
United Business Media announced it intends to delist voluntarily from the Nasdaq National Market and to terminate its American Depositary Receipt (ADR) program. Both the delisting and the termination will take place at the close of trading on March 22. In a press release, UBM said, "This decision was based on the uneconomic nature of maintaining this very thinly traded security." The large majority of UBM's U.S. shareholder base holds shares of the company on the London Stock Exchange, where more than 99.95% of trading in UBM takes place, according to the company.
Yahoo! unveils beta of desktop search
Yahoo!, which in December announced plans to introduce a test version of desktop search, has pulled the trigger on that effort. The Yahoo! Desktop Search application is now available as a beta release (http://desktop.yahoo.com). Yahoo! enlisted X1 Technologies for the technology platform. Users will be able to search 200 different file types on the desktop, including Outlook e-mail, Microsoft Word and Excel, PowerPoint, pdf, html, tex, ZIP files and mp3's.
McGraw-Hill, NAHB enter data alliance
McGraw-Hill Construction announced Tuesday an alliance with the National Association of Home Builders, designed to improve builders' access to home building product information. The agreement will create a McGraw-Hill Construction Sweets Directory and McGraw-Hill Construction Sweets Catalog File that will be co-branded with the NAHB. Additionally, McGraw-Hill Construction will sponsor Nation's Building News Online, an NAHB vehicle that reaches more than 140,000 members.
TheStreet.com eyes `strategic alternatives'
TheStreet.com, a financial analysis Web site, said last week it has retained New York-based investment bank Allen & Co. to help it explore "strategic alternatives." TheStreet.com said in a statement that "no decision has been made as to whether the company will engage in a transaction or transactions resulting from the board's consideration of strategic alternatives."
NetIQ picks JumboShrimp as agency of record
Software company NetIQ has hired JumboShrimp Advertising as its marketing communications agency of record. The agency will provide branding, demand marketing and support initiatives for NetIQ. Its initial assignment is to provide strategic support for NetIQ's rebranding efforts. It is also developing an integrated ad campaign to launch the company's security management services.
Quarterly title to focus on event marketing
Exhibitor Publications announced the upcoming launch of Corporate Event magazine, which will offer case studies of b-to-b event marketing. The quarterly publication will debut in March to coincide with the Exhibitor Show, a conference for trade show and corporate event marketers held in Las Vegas.