Global Traffic Network: IPO and International Expansion
Global Traffic Network, Inc. (GNET) is a leading provider of custom traffic and news reports to radio and television stations outside the U.S. In exchange for these reports, television and radio stations provide GNET with commercial airtime inventory that it sells to advertisers. When Maslon attorneys, Bill Mower and Alan Gilbert, were introduced to GNET in 2005, it operated the largest traffic and news network in Australia, was planning to expand its operations into Canada, and was interested in raising capital to fund that expansion through an initial public offering.
After being retained to serve as GNET’s U.S. corporate and securities counsel, Bill and Alan, together with other Maslon lawyers, assisted GNET’s entrepreneurial management team in reorganizing its corporate structure and guided them through all facets of the IPO process, including obtaining a listing on The NASDAQ Stock Market. With the proceeds from its IPO, GNET built a successful business that currently operates traffic networks in Canada’s eight largest markets.
Following the IPO, Maslon continued to serve as “outside general counsel” to GNET as it completed a follow-on public stock offering in 2007, expanded operations in the United Kingdom through the 2009 acquisition of London-based The Unique Broadcasting Company Limited and increased its consolidated annual revenue by fourfold. Bill and Alan were proud to be a part of GNET’s life cycle and success and enjoyed playing a key role in the company’s development from a private Australian-based company into a U.S.-based, NASDAQ-listed public reporting company operating in multiple international markets at the time of its sale to a private equity buyer in 2012.