CCBN Acquires Business From Fair Disclosure Financial Network

Jul 22, 2003

CCBN (Corporate Communications Broadcast Network), a provider of investor and corporate communications, has acquired Fair Disclosure Financial Network's corporate earnings call transcript and webcast distribution business. The acquisition is intended to enable CCBN to deliver an expanded suite of services for investors and investor relations professionals to assist in managing the rapidly increasing amount of corporate disclosure information. Financial terms of the acquisition were not disclosed.

Fair Disclosure Financial Network, Inc. (FDfn), based in Watertown, MA, is a content aggregator and syndicator of earnings calls and corporate information to institutional investors, corporations, and financial portal Web sites. FDfn transcribes thousands of corporate conference calls each quarter. They have also developed a technology that converts audio conference calls to text and that prioritizes the calls based on a proprietary prioritization engine which takes into account customer selections, analyst coverage, and historical usage patterns.

The acquisition of FDfn's business is intended to enhance CCBN's suite of financial information offerings, which includes CCBN StreetEvents, a service that is used by analysts and portfolio managers at more than 1,600 investment firms who rely on its event information. CCBN's StreetEvents service aggregates corporate disclosure information from over 6,500 public companies and 100 sell-side firms into one online solution for accessing corporate event information, full-text transcripts, call summary briefs, and SEC filings. This information is consolidated into a single location, with customizable WatchLists, email alerts, and synchronized desktop management that enhances the productivity and efficiency for investment professionals.

The acquisition of the FDfn business will allow CCBN to expand its transcription coverage to include additional corporations in both the U.S. and Europe, yielding a capacity of over 4,000 transcripts each quarter. CCBN clients also gain access to FDfn's historical archive of over 27,000 transcripts, which will soon be available through CCBN's StreetEvents service.