Shares of online marketer Miva (MEE-vuh) traded up more seven percent today (Tuesday) after the Fort Myers-based company indicated it might go up for sale. Miva says it’s hired investment firm Deutsche Bank Securities to help it consider new ideas to boost its lagging share price. Its stock has about the same value now as at the height of the dot-com boom six years ago. Miva, formerly known as FindWhat-dot-com, has for months been discussed as a company poised for a takeover. Miva vice president Peter Weinberg says all options are on the table.
“We’re simply letting the market know that we are exploring strategic opportunities that would essentially enhance our competitive positioning in the marketplace. And ultimately improve or enhance our value to shareholders.”
Miva’s market value currently stands at 175-million dollars. Weinberg says there is no timeline to decide whether or not to sell Miva. The company offers online marketing services and helps its clients sell Internet advertising. Miva employs a total of 500 people.
Tuesday, 10 January 2006 00:00