Emmis acquires majority stake in software firm

Back to TopCommentsE-mailPrintBookmark and Share

Emmis Communications Corp. said Monday that it acquired a controlling interest in Indianapolis-based pricing software firm Digonex Technologies Inc. in a deal worth about $5 million.

Locally based Emmis said it paid $3 million for a 51-percent equity share of Digonex, which will allow it to appoint a majority of the company's board of directors. Emmis said it will make an additional investment of $2 million in the company within a few months, increasing its stake to 66 percent.

Digonex's "dynamic pricing" software compiles sales data for clients and adjusts prices up or down to maximize profit. Its clients include the Indianapolis Zoo, the Anaheim Ducks, Lids Sports Group  and the University of Washington.

The software firm, founded by Jan Eglen in 2000, has 17 employees. Emmis said there are no immediate plans to reduce or add to Digonex employee base.

Eglen, 71, will change his title from CEO to founder/executive vice president and chief scientist as part of the deal. Emmis said he will retain an active role in the company.

Greg Loewen, Emmis' chief strategy officer and president of Emmis Publishing, will become president and CEO of Digonex while retaining his current titles.

Digonex recently worked with Emmis on the pricing for one of its radio station's summer concerts.

Emmis CEO Jeff Smulyan said the two firms will help each other.

"We are certain that dynamic pricing is the future of all inventory management," Smulyan said. "As a company that sells hundreds of millions of dollars in advertising units, we believe that this acquisition will help us find the optimal price for our entire inventory and increase revenue opportunities. We also believe that our operational skills, including our expertise in sales, marketing and finance, will help the Digonex team become a leader in this space."

The Indianapolis Zoo consulted with Digonex before recently changing to a variable pricing strategy.

Emmis owns 19 FM and 4 AM radio stations in major U.S. markets, including WIBC-FM 93.1, WLHK-FM “The Hank” 97.1 and WYXB-FM 105.7.


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ
  1. why oh why does this state continue to elect these people....do you wonder how much was graft out of the 3.8 billion?

  2. i too think this is a great idea. I think the vision and need is there as well. But also agree with Wendy that there may be better location in our city to fulfill this vision and help grow the sports of hockey and figure skating in Indy. Also to help further develop other parts of the city that seem often forgotten. Any of the other 6 townships out side of the three northernmost could benefit greatly from a facility and a vision like this. For a vision that sounds philanthropic, the location is appears more about the money. Would really like to see it elsewhere, but still wish the development the best of luck, as we can always use more ice in the city. As for the Ice growth when they return, if schedules can be coordinated with the Fuel, what could be better than to have high level hockey available to go see every weekend of the season? Good luck with the development and the return of the Ice.

  3. How many parking spaces do they have at Ironworks? Will residents have reserved spaces or will they have to troll for a space among the people that are there at Ruth Chris & Sangiovese?

  4. You do not get speeding ticket first time you speed and this is not first time Mr.Page has speed. One act should not define a man and this one act won't. He got off with a slap on the wrist. I agree with judge no person was injured by his actions. The state was robbed of money by paying too much rent for a building and that money could have been used for social services. The Page family maybe "generous" with their money but for most part all of it is dirty money that he obtained for sources that are not on the upright. Page is the kind of lawyer that gives lawyers a bad name. He paid off this judge like he has many other tine and walked away. Does he still have his license. I believe so. Hire him to get you confiscated drug money back. He will. It will cost you.

  5. I remain amazed at the level of expertise of the average Internet Television Executive. Obviously they have all the answers and know the business inside and out.