Friday, July 29, 2011
Specific Media Taps Investment Banker As Corp Dev Head
Irvine-based Specific Media has recruited an investment banker to head up its business development efforts, fresh off its acquisition of onetime social networking king MySpace. According to Specific Media, it has hired Scott Schopen, former investment banker at Piper Jaffray, as Vice President of Corporate Development at the firm. Schopen was overseeing merger and acquisition transactions, initial and secondary public offerings, and private capital raises at Piper Jaffray. Schopen has a long history with Specific Media, having advised the firm on a $100M round of financing, as well as its acquisition of Adviva in Europe in 2008, plus the acquisition of MySpace. Specific Media hinted that the firm is now looking at additional acquisitions, saying the firm will leverage Schopen's experience in "future strategic developments."