Small business owners walk the work-life balance tightrope differently than the rest of us. Because their working lives are spent on their own business, they’re more likely to put in extra hours and still feel they’ve got more balance than a typical employee. Intuit Canada, makers of QuickBooks accounting software have released the findings of a national poll on work-life balance among small business owners and is offering expert tips to help them make the most of the time they spend on their business.
The recent national survey commissioned by Intuit found 88 per cent of the small business owners said they were satisfied with the balance between their personal and professional pursuits. The majority (84%) also feel they have a better balance than if they worked for someone else.
“Small business owners have told us before, work-life balance is as important to them as finding and keeping customers,” said Barb Anderson, QuickBooks product marketing leader. “Through QuickBooks, we help them carve out time for balance by providing tools that help organize and manage their business finances easily and more efficiently.”
Work-life balance is often measured by comparing the amount of time spent on the job against time spent on personal pursuits. However, 97 per cent of small business owners said their view differs from the norm.
“Even though nearly half of respondents (46%) said they work beyond 40 hours a week it’s the sense of ownership over the work they do, the ability to set their own schedule and do what they want when they want that contributes to their sense of balance,” said Anderson.
“Working smarter, not harder is the key to making the most of the time small business owners choose to devote their work and personal lives,” said Anderson. “We talk to entrepreneurs every day and invariably, those who embraced the right tools and strategies are better able to balance their schedules.”
To help small business owners improve their work-life balance, Anderson offered the following tips to help save time when managing finances:
Get organized: Having your financial records scattered among a host of file folders or different programs on your laptop is inefficient. Financial management software provides a one-stop snapshot of money coming in and going out of your business so you always know where you stand
Stop stuffing envelopes: Send invoices through email and eliminate the time it takes to print, prepare and post them. In addition to cutting out the trip to the mail box, it gets invoices in the hands of your customers immediately
Save time with your accountant: Don’t pay your accountant to spend time sorting through your shoe box of receipts. You’ll make the most of your meetings by getting organized ahead of time, and getting the strategic advice you need to move your business forward.
Ultimately the secrets to achieving balance are as varied and personal as the more than 2.4 million small businesses in Canada. Intuit is inviting business owners to share their stories and tips on how they find balance on QuickBooksCanada on Facebook and on Twitter, reference hashtag #qbwlb. Submissions will be collected from now until July 31 and made available for sharing on the QuickBooks, Facebook page in early August.
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The SIGGRAPH Computer Animation Festival has a long history of presenting a variety of the world’s most innovative, accomplished, and amazing creators of digital gaming, film, and video. The Computer Animation Festival at SIGGRAPH 2011 in Vancouver this August 7th – 11th, provides a personal viewing experience unlike any other. In addition to film screenings, the Festival includes interactive sessions and exclusive learning opportunities to gain industry secrets and advice from some of the most successful professionals in the field.
“Once again, the content in the Computer Animation Festival offers something of interest to just about everyone – from industry newbies to veterans,” said Joshua Grow, Computer Animation Festival Director from The Creative-Cartel. “The content ranges from commercials to gaming. It is truly the year’s unique opportunity to hear directly from the best in the business. It should prove to be educational and inspirational.”
Listed below are just a few of the learning opportunities during the Computer Animation Festival:
Production Sessions
Production Sessions are high-level discussions that showcase the computer animation and visual effects in some of the Computer Animation Festival’s most provocative works. SIGGRAPH 2011 featured Production Sessions include:
The Visual Effects of “Thor” and “Captain America”: So Different Yet So Marvel
Marvel Studios devotes great time and effort to deliver great storytelling, strong visuals, and compelling characters to movie audiences. This session compares the films “Thor” and “Captain America” and shows how visual effects are a critical aesthetic ingredient in their success. Visual effects supervisors Wesley Sewell and Christopher Townsend and their teams from Digital Domain, Double Negative, Whiskytree, Luma Pictures, and Lola VFX review how the films combine beauty and authenticity.
Pixar: “La Luna”
Enrico Casarosa, Pixar Animation Studios
“La Luna” is the timeless fable of a young boy who is coming of age in the most peculiar of circumstances. Tonight is the very first time his Papa and Grandpa are taking him to work. In an old wooden boat, they row far out to sea, and with no land in sight, they stop and wait. A big surprise awaits the little boy as he discovers his family’s most unusual line of work. Should he follow the example of his Papa or his Grandpa? Will he be able to find his own way in the midst of their conflicting opinions and timeworn traditions? Following the Canadian premiere screening of “La Luna,” its director, Enrico Casarosa, discusses the journey that led him to create this very personal short and demonstrates the singularly artistic style by which the film was crafted.
DreamWorks Animation: The Yin and Yang of Creating the Final Battle in “Kung Fu Panda 2”
The climax of the CG-animated movie “Kung Fu Panda 2” is an epic battle featuring a flotilla of boats, an ancient Chinese-styled city, thousands of wolves armed for battle, action featuring hundreds of characters in a single shot, stylized graphic lighting, fantastical cannon fire and explosions, and a set of effects-supported Kung Fu moves. This talk provides a unique insight into the making of a CG-animated movie that goes beyond the traditional idealized concept of the pipeline.
Industrial Light & Magic Presents: Getting Dirty: Bringing the Digital Feature “Rango” to Life
This in-depth discussion focuses on the production of Industrial Light & Magic’s first animated feature “Rango.” ILM’s unique approach to the genre brings a new dimension to the animated feature, giving “Rango” the visceral quality that the company is best known for in its visual effects work. The presenters review all aspects of the work from initial asset development through animation, simulation, lighting, and compositing.
Imageworks: The Smurf-alution: A Half-Century of Character Development
Sony Pictures Imageworks animation supervisor Troy Saliba and leading members of their Vancouver animation team take the Smurfs from the most primitive pencil sketch to a contemporary 3D stereo rendering.
Industrial Light & Magic: New Solutions for New Challenges
The Industrial Light & Magic team delves into the effects created for three of 2011’s largest summer films, dissecting the challenges and revealing their solutions. The panel breaks down the visual effects challenges presented on this year’s slate of films including: “Cowboys & Aliens,” “Pirates of the Caribbean: On Stranger Tides,” and “Transformers: Dark of the Moon.”
Guerrilla: The Creation of Killzone 3 – Game Production Session
This talk details various aspects of designing and developing videogames at Guerrilla. It highlights methods that are very similar to methods used in the CGI industry, and it illuminates some of the most important differences. And it covers the complete breadth of videogame development from artistic design to production pipelines and tool and engine development.
Real-Time Live!
This program showcases the latest trends and best techniques for pushing the boundaries of interactive visuals in video games and real-time simulations. To help emphasize the difference between these works and pre-rendered works, real-time pieces are demonstrated live on their actual platforms without any post-production. Each live presentation lasts less than five minutes in a fast-paced, 45-minute show of diverse and aesthetically stimulating work. SIGGRAPH 2011 Real-Time Live! highlights include:
Chrysaora: WebGL Jellyfish Simulation
Savannah College of Art and Design
Chrysaora is a real-time jellyfish simulation created entirely with web technologies such as JavaScript, WebGL, WebSockets, and CSS. It uses realistic rendering and simulation techniques similar to those used in modern 3D video games, but it can run in an internet browser on any operating system.
Enlighten Real-Time Radiosity
Geomerics Ltd.
Using Geomerics Enlighten technology, this demo shows how dynamic real-time lighting enhances game play and visual quality in computer games. Enlighten is a cross-platform, real-time radiosity solution that can generate bounce lighting for a game level in a fraction of a frame.
Samaritan Real-Time Demo
Epic Games Inc.
Samaritan is a real-time demonstration of the latest Unreal Engine 3 technology that shows off DirectX 11 support and DirectX features such as tessellation and displacement mapping, geometry shaders, multi-sampled textures, and Shader Model 5. High-end rendering enhancements include image-based reflections, Bokeh depth of field, subsurface scattering, anti-aliased masked materials, deferred rendering with MSAA support, and high-quality dynamic shadows.
iMedic: Immersive Medical Environment for Distributed Interactive Consultation
Digital Artforms, Inc.
This interactive medical visualization system is based on two hand-held tracked controllers that directly control the position and orientation of two 3D cursors. Button presses enable direct manipulation of space with either or both hands, resulting in intuitive manipulation of the viewpoint. You can place yourself anywhere at any orientation and at any scale with just a few simple gestures.
RealD Presents 3D Day
The Computer Animation Festival also features an entire day highlighting the enormously popular growth of 3D in movies, including an introduction to 3D by 3ality and an excerpt from Disney’s “Lion King” in 3D. SIGGRAPH 2011 3D highlights include:
JURY AWARD
Paths of Hate
Platige Image
Two pilots, driven by blind hate, chase each other in their airplanes and thereby write cryptic messages of madness into the firmament. On their way into the abyss they transform into inhuman and distorted creatures that finally become part of the history of hate.
BEST STUDENT PROJECT PRIZE
Flamingo Pride
The Konrad Wolf Potsdam-Babelsberg Film and Television University
Frustrated being the only straight flamingo in a gay flock, our hero falls in love with a lady stork that flies by. Unable to convince her of his serious intentions he isolates himself and goes through an identity crisis. An intensive encounter inspires him to make a bold move.
IMAX Hubble 3D Visualization Excerpt: Journey Into the Orion Nebula
Space Telescope Science Institute
An excerpt from IMAX “Hubble 3D” takes viewers inside the Orion Nebula to witness the birth of stars and planets. This cinematic scientific visualization, based on data from the Hubble Space Telescope and other observatories, is the result of close collaboration between research astronomers, computer programmers, and visualization artists.
“Green Lantern”
Sony Pictures Imageworks
In a vast universe a small powerful force has existed for centuries. Protectors of peace and justice: the Green Lantern Corps. A new enemy, Parallax, threatens to destroy the balance of power. Their fate and that of Earth lie in the hands of the first human ever selected: Hal Jordan.
OpenText has acquired Global 360 Holding Corporation, a provider of process and case management solutions. The acquisition continues OpenText’s expansion into the fast growing business process management (BPM) market, adding to its technology, talent, services, partner and geographical strengths, as well as giving the company important new capabilities in dynamic case management.
The transaction purchase price is approximately $260 million (1), subject to customary purchase price and holdback adjustments. Global 360 has generated approximately $90 million in trailing twelve months revenue and is profitable. The transaction has closed in the first quarter of fiscal 2012 and is not part of the fiscal 2011 fourth quarter and year-end results of OpenText. The management team of OpenText will provide further information regarding the future plans of the combined company when it provides fiscal year-end results on August 10, 2011.
“Many global organizations – about sixty percent — already connect their Enterprise Content Management (ECM) and BPM projects under a single strategy. Customers are moving in this direction and we are accelerating our investment in leading content, process and case management solutions as a result,” said John Shackleton, President and Chief Executive Officer of OpenText. “With the addition of Global 360, we will be able to offer organizations a complete spectrum of solutions from a strong, independent and global solutions provider.”
Global 360, headquartered in Dallas, Texas with customers in 70 countries, is known for its case management solutions, its document-centric BPM, and its emphasis on usability and user experience in its software. In February 2011, OpenText also acquired Metastorm, a BPM leader with strong and complementary capabilities, including support for human-centric BPM. Metastorm also offers other solutions that complement Global 360, such as business process analysis and enterprise architecture software.
This increased investment in the BPM market demonstrates OpenText’s focus on strategic acquisitions of technologies that build out its extended portfolio of solutions. The two acquisitions bring an extended base of expertise – some 300 people in R&D alone – dedicated to BPM and dynamic case management solutions, plus a further reach in key verticals such as financial services, energy, government, life sciences and other industries. OpenText can now solve a much broader range of customer requirements, and at the same time extend its reach across all facets of solutions involving content and business processes. Read the rest of this entry »
ACETECH is delivering a go-to-market boot camp for very early stage technology companies. The program provides a structured process and one-on-one mentoring from an experienced technology CEO to help you get to market faster with less risk.
After successful completion of the Market Validation Program, ACETECH can refer you into the BCIC Mento Program to receive ongoing mentoring. The BCIC Mentor Program is entirely funded by BCIC and ther is no cost to participate for 12 months.
The program includes:
3 full-day interactive, educational sessions
September 20
October 18
November 15
3 one-on-one mentoring sessions with an experienced technology CEO (one session per month – September to December) – to be scheduled with the mentor.
You leave with:
A completed positioning statement and value proposition
A strategy to go to market
Priorities identified to achieve early adopter customers
Training to sell to early adopters
Actionable tools and templates
Access to contacts and resources
Who’s eligible:
Technology company CEO/founders
Less than 10 employees
Pre-revenue
Must have a product or an early working version of the product
Program Cost & Application
The Market Validation Proram is subsidised by Discovery Foundation. The registration fee for the program is $1795, however, the Discovery Foundation subsidy will cover $1300 for each company admitted in the program (20 spots available). The cost of the program to the entrepreneur is $495.
The application deadline is July 1, 2011 July 15, 2011. Your application is not a formal registration for the program. All applicants will be contacted by ACETECH once the application has been reviewed.
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This is not a Canadian production, but Canadians can be a part of it, and it’s just a really cool project. Intel Corporation and Toshiba America Information Systems Inc., today announced a creative collaboration and campaign to deliver a new social film project titled “Inside.” As part of the film experience an online casting call has also been issued.
Starring Emmy Rossum (“Shameless,” “Phantom of the Opera,”), “Inside” is a blockbuster-class experiment in social entertainment, brought to life by leading minds in Hollywood, technology and social media. The film aims to bring a new genre of interactive, social entertainment and is directed by D.J. Caruso (“Disturbia,” “I Am Number Four,” “Eagle Eye”) and Oscar-winning cinematographer Mauro Fiore (“Avatar,” “Training Day”).
“’Inside’ is unique because it allows me as the director to direct not just the actors but the audience as well,” Caruso said. “Social film is still in an experimental phase and collaborations like this one will help bring new concepts, opportunities and ideas to the world of entertainment. We had to approach the film differently because there are blanks that need to be filled in by the social media audience, but that is what makes it an exciting new experience for the viewer; the opportunity to participate in the film itself.”
In the film, Rossum plays the role of Christina, a 20-something woman trapped in a room with only a 2nd Generation Intel® Core™ i7 processor-powered Toshiba Satellite® P775 series laptop and an untraceable Internet connection. Unable to determine where she is being held or what her fate might be, Christina uses the laptop to mobilize her social network, reaching out to friends, family and anyone else who can help her figure out where she’s being held and how to escape.
Unlike most static productions, “Inside” engages the audience by enlisting them to be a part of the film through social media. Viewers are encouraged to connect with Christina, tweet clues and post advice to her Facebook wall. The film will air in short episodes starting on July 25. During this time, viewers will be invited to activate their social channels and help decode Christina’s dilemma by posting tips, insights, ideas and clues. The editing team, led by Emmy-winning editor Josh Bodnar, will incorporate posts that best fit the storyline into the episodes.
Additionally, one viewer will have a chance to be cast in a role through a YouTube online casting call that opens today and runs through July 20. The winning video submission will be incorporated into the movie and the winner will be included in the credits of the film.
“As the ‘Sponsors of Tomorrow’ we are excited to expand the entertainment computing experience of today,” said Johan Jervoe, VP Creative Services and Digital Marketing, Intel Corporation. “By bringing the worlds of social media and entertainment together, we will give the viewer the ability to have an active voice and play a participating role, something that has never been done before with traditional film. It’s exciting for viewers/participants to have the opportunity of being cast alongside talent like Emmy Rossum, D.J. Caruso and Mauro Fiore.”
“With ‘Inside,’ the goal was to provide our audience with a unique, engaging experience,” said Ron Smith, vice president of marketing, Toshiba America Information Systems Inc., Digital Products Division. “We wanted to connect with a younger consumer audience through the social media channels and technologies they use most. Our hope is that viewers are enticed by the opportunities ‘Inside’ creates, giving them the possibility of seeing their name, comments and social identity included in a film that has the potential to alter the entertainment landscape.”
Montreal’s Spline Technologies Corporation has released a major update to SplineTech JavaScript Debugger PRO, an independent standalone Web development tool that enables Web developers to easily edit and debug JavaScript and VBScript inside HTML and AJAX pages, without the need for any add-ons, plugins or changes of their code to handle the debugging process. Client-side JavaScript, JScript and client-side VBScript debugging languages are fully supported for simple and complex HTML, DHTML and AJAX debugging scenarios.
SplineTech JavaScript Debugger PRO offers following main features to address the most common Web development issues:
– Advanced form debugging for JavaScript form validation – Programmers to cause order forms to validate in clients’ browser windows before they are submitted.
– JavaScript pop-up debugging
– Debug DHTML menus and JavaScript menus
– Debug JavaScript and VBScript events: Debug JavaScript Pop-ups, onclick, onmouseover, onfocus and any
other event.
– Debug DHTML behavior
– Debug client-side JavaScript controls: Debug calendars and any other control
– Multi-Functional VBScript and JavaScript script editor for HTML and AJAX
– Full Support for native VBScript and JavaScript syntax (color-coded)
– Explicit JavaScript runtime error information
– Execution line highlighting: Display the current line of the code to be executed
Aside from a vast array of main features, this major update of SplineTech JavaScript Debugger PRO includes these new and unique features:
– Pause code execution in 3, 5 or more seconds (user adjustable)
– Reformat unreadable JavaScript and AJAX scripts (turns large one-line AJAX scripts into properly formatted readable multi-line code)
– Step Through multiple lines of code at once (user adjustable)
– Go back (and forth) to any step within your code
– Call Stack enables developers to view all function names taken from function lists (since IE reports most of them as anonymous)
– View all current variables in a dedicated Current Variables panel
Without requiring any manual configuration or network configuration, SplineTech JavaScript Debugger PRO runs on the Windows 7/2008/2000/2003/XP and Windows Server 2008 platforms (both x86 and x64) with Microsoft Internet Explorer 6.0 or better. SplineTech JavaScript Debugger PRO is priced at $35 per single-user license.
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Maximizer Software has announced that its new cloud-based CRM Solution, Maximizer™ CRM Live, is available for purchase on the Microsoft Windows Azure Marketplace. With an affordable, web-based monthly subscription model ($49/user/month), Maximizer CRM Live provides organizations with a proven, full-featured CRM solution, designed to drive more sales, improve marketing effectiveness, and enrich customer service interactions.
“We are excited to bring 20+ years of experience and proven success with CRM to the Windows Azure Marketplace,” said Vivek Thomas, President of Maximizer Software. “The availability of Maximizer CRM Live from the Windows Azure Marketplace will make it even more convenient for customers to access and start experiencing the power of our full-featured, cloud-based CRM solution.”
Recognition of the technological capabilities and robust features of Maximizer CRM Live is a further testament to Maximizer Software’s long standing relationship with Microsoft, including Gold Certified Partner status for over 5 years. After passing a rigorous selection and integration process, Maximizer CRM Live has been selected as the first CRM application available for purchase on the Windows Azure Marketplace. Customers can now gain access to the award-winning features of Maximizer CRM Live directly through the Windows Azure Marketplace.
“By accessing the Maximizer CRM Live solution from the Windows Azure Marketplace, customers will gain functionality, value, and quality,” said Sudhir Hasbe, senior product manager, Windows Azure, at Microsoft. “Maximizer CRM Live is one of the first commerce-enabled applications available through the Windows Azure Marketplace, and we welcome this feature-rich cloud-based CRM application.”
Maximizer CRM Live delivers an easy to use and flexible CRM solution to customers by leveraging the robustness and security of the award-wining Windows Azure platform. Accessible from anywhere on any computer or mobile device, users can manage sales opportunities, marketing initiatives, provide customer service and collaborate with teams all in real time. With no technical expertise required, customers can be up and running within moments of signing up. Customizable to fit any industry, Maximizer CRM Live is secure with a 99.5% uptime guarantee.
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Tutoring industry software provider TutorPanel has announced the addition of Google Calendar Sync to their tutor scheduling and invoicing software, which will allow for integration of tutors’ and students’ schedules with Google Calendar. This new feature allows companies to take advantage of additional features offered by Google Calendar such as syncing events to desktop calendars such as Microsoft Office, Apple iCal, Mozilla Sunbird. It also offers tutors and students the convenience of being able to view their tutoring schedule alongside other events on their calendars.
TutorPanel users have two ways to connect their TutorPanel calendars to their Google Calendar. First, tutors can sync events from their Google Calendar to their TutorPanel calendar. This feature makes it easier for tutors and administrators to find available time slots to schedule tutoring sessions.
The second way TutorPanel users can connect to Google Calendar is by displaying tutors’ lessons on their own Google Calendars. This allows tutors to have easier access to their lesson schedules and allows them to take advantage of Google Calendar’s sync feature with desktop calendars and mobile devices.
The addition of Google Calendar Sync to the TutorPanel system came in response to requests from TutorPanel users that felt their companies could benefit from this type of functionality. TutorPanel’s close relationship with tutoring companies and their ability to implement requested features plays an enormous role in the success of the software.
Tutoring companies interested in evaluating TutorPanel can learn more and try it free for 30-days by going to the TutorPanel website.
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One of the most original new titles that has taken the game industry by storm is now available for your iPad. Sissy’s Magical Ponycorn Adventure by newcomer Cassie Creighton (and her Dad) was released earlier today on the iTunes Store for $2.99 and compatible with iPads running iOS 4.0 or later.
Sissy’s Magical Ponycorn Adventure began as a father-daughter project at TOJam, a Toronto-area Game Jam held in May. The game was designed in Flash and was originally released for play in web browsers, but the overwhelming success of Cassie’s game, for which she created the artwork and voice-overs, has led to additional releases for PlayBook and now the iPad. You can read the full story behind the game’s journey on Ryan’s blog over at Untold Entertainment.
All of the proceeds raised from the sale of Sissy’s Magical Ponycorn Adventure are going to pay for Cassie’s education once she is old enough to attend a post-secondary school. Since launch, Cassie’s game empire has also grown to encompass Ponycorn merchandising and appearances on TV and radio, as well as in mainstream print media.
For those who would like to chat first hand with Cassie’s Dad about his young game designer phenom or about Ponycorns, rainbow portals and evil lemons, Ryan will be attending Casual Connect next week in Seattle. Of course, Ryan does have his own projects he may want to discuss – but that’s outside the scope of this article, which is to send all of you iPad and PlayBook owners to the appropriate marketplaces and online stores to purchase Cassie’s game and support her education.
As pretty well everyone in the industry already suspected, Electronic Arts Inc. has now publicly confirmed an agreement to acquire PopCap Games. Well-known for its blockbuster titles like Plants vs. Zombies, Bejeweled, and Zuma, and a proven ability to create new hits, PopCap is a leader in the fast growing market for casual digital games with locations in Dublin, Vancouver (which creates all those PopCap Hidden Object titles), Seattle, San Francisco, Shanghai and Tokyo.
PopCap Games was founded eleven years ago by John Vechey, Jason Kapalka and Brian Fiete, three young gaming geeks who followed their passion – to make games. John and Brian met when they were both attending Purdue University before working for Sierra. Meanwhile the token Canadian in the trio, Jason, graduated from the University of Alberta and had worked as a Senior Producer for Pogo.com – another casual game portal that was swallowed up by the EA publishing empire just as PopCap was getting its start.
“EA and PopCap are a compelling combination,” said EA CEO John Riccitiello. “PopCap’s great studio talent and powerful IP add to EA’s momentum and accelerate our drive towards a $1 billion digital business. EA’s global studio and publishing network will help PopCap rapidly expand their business to more digital devices, more countries, and more channels.”
“We picked EA because they have recast their culture around making great digital games,” said David Roberts, CEO of PopCap. “By working with EA, we’ll scale our games and services to deliver more social, mobile, casual fun to an even bigger, global audience.”
“PopCap has a proven financial trajectory with sustained revenue growth and double-digit operating margins,” said EA CFO Eric Brown. “On a non-GAAP basis, this deal is expected to be at least ten-cents accretive in fiscal year 2013.”
PopCap is one of the largest and most respected digital and social gaming companies with more than 150 million games installed and played worldwide on platforms such as Facebook®, RenRen, Google™, iPhone™, iPad™ and Android. In calendar year 2010, approximately 80% of PopCap’s revenue was on high growth digital platforms.
EA will pay approximately $650 million in cash and $100 million in shares of EA common stock to be issued to certain stockholders of PopCap. In addition, the PopCap sellers are entitled to additional variable cash consideration, contingent upon the achievement of certain non-GAAP earnings before interest and tax (“EBIT”) performance milestones through December 2013, EA’s third fiscal quarter end.
At the upper end of the earn-out, the performance targets for EBIT are approximately $343 million in total PopCap standalone EBIT generated over the two-year period through December 2013. The exact earn-out calculation is subject to adjustments. EA will also provide up to $50 million in long-term equity retention awards to PopCap employees to be granted over the next four years.
Transaction and Financial Highlights
* The transaction is expected to close in August 2011, subject to customary closing conditions, including regulatory approvals.
* On a non-GAAP basis, the acquisition is expected to be EPS neutral to EA’s fiscal year 2012 results, as a result of one-time transaction costs, and at least $0.10 accretive to EA’s FY 2013 non-GAAP EPS.
* For the first quarter of fiscal year 2012, EA is announcing preliminary results of approximately:
*$500 million to $525 million in non-GAAP revenue versus guidance of $460 million to $500 million of non-GAAP revenue.
* ($0.40) to ($0.37) in non-GAAP diluted loss per share versus guidance of ($0.49) to ($0.44) in non-GAAP diluted loss per share.
EA is reaffirming its full year fiscal year 2012 non-GAAP guidance of $0.70 to $0.90 diluted earnings per share. EA is also increasing its full year non-GAAP revenue guidance to a range of $3,800 million to $4,025 million to account for the inclusion of PopCap for a portion of FY12. EA is announcing preliminary guidance for the second quarter of fiscal year 2012 of non-GAAP diluted loss per share ranging from ($0.15) to ($0.05).
EA has executed a commitment letter for a $550 million senior unsecured bridge facility with Morgan Stanley Senior Funding, Inc., J.P. Morgan Securities LLC, J.P. Morgan Chase Bank, N.A., UBS Securities LLC, and UBS Loan Finance LLC, that EA may choose to draw upon prior to closing the acquisition. EA expects to explore permanent financing options in connection with the funding of this acquisition. Morgan Stanley & Co. LLC provided EA’s board of directors valuation advice in connection with the transaction. EA was also assisted by UBS Investment Bank.
In addition, the $600 million share repurchase program that EA announced in February, 2011 remains in effect. As of July 1, 2011, EA has repurchased 7.1 million shares for a total of $149 million under this program. EA is not obligated to repurchase any specific number of shares under the program and the repurchase program may be modified, suspended or discontinued at any time.
Small business owners walk the work-life balance tightrope differently than the rest of us. Because their working lives are spent on their own business, they’re more likely to put in extra hours and still feel they’ve got more balance than a typical employee. Intuit Canada, makers of QuickBooks accounting software have released the findings of a national poll on work-life balance among small business owners and is offering expert tips to help them make the most of the time they spend on their business.
