135 million Liquidity of Internet Capital
Cash and cash aquivalent (December 31, 2010) = 72.9 million
Holdings in GoIndustry = 3.5 million
Income Tax Receivable = 6.3 million
Cash from the sale of Metastorm = 51.4 million
Escrow from the sale of Metastorm = 1.6 million
ICG’s corporate cash and cash equivalents were $72.9 million at December 31, 2010, and the value of ICG’s holdings in GoIndustry-DoveBid (LSE.AIM: GOI) was $3.5 million. Additionally, as of December 31, 2010, ICG had an income tax receivable of $6.3 million.
On February 17, 2011, the sale of Metastorm to Open Text Corporation was consummated. ICG’s portion of the sale proceeds consisted of approximately $53 million, approximately $1.6 million of which has been placed in escrow in connection with a customary indemnification holdback. Subject to any indemnification claims that Open Text may assert, the escrowed sale proceeds will be released to ICG nine months following the closing of the transaction. |