Welcome!

Agile Computing Authors: Mike Raia, Craig Lowell, JP Morgenthal, Pat Romanski, Liz McMillan

News Feed Item

ViSalus Founders Execute New Agreement With Majority Shareholder

Founders To Retain Significant Ownership Interest in ViSalus

TROY, Mich., Dec. 18, 2012 /PRNewswire/ -- ViSalus, known for its mission of helping people transform their health and fitness through the Body By Vi 90-Day Challenge, today announced that its Founders and majority shareholder Blyth have reached an agreement whereby Blyth increased its ownership in ViSalus from approximately 73% to more than 80% for a payment of $57.4 million to the other members of ViSalus.  In addition, the other members of ViSalus have agreed to exchange their membership interests in ViSalus for capital stock of ViSalus, Inc. which will be redeemable in December 2017 for a total redemption price of $147.5 million. ViSalus will also redeem in January, 2013 all of the outstanding interests under its Equity Incentive Plan providing $25.3 million for the founding promoters of ViSalus and terminating the ViSalus EIP program.

(Logo: http://photos.prnewswire.com/prnh/20120816/LA58521LOGO)

The new agreement between Blyth and the other members of ViSalus achieves the mutually-shared objectives of providing ViSalus's Founders and its management team the opportunity to participate in ViSalus's future results through their ongoing ownership and participation in a new management incentive plan.

Ryan Blair, ViSalus's Chief Executive Officer, commented, "Nick, Blake and I are especially pleased to have finalized an agreement that demonstrates our full commitment to the global growth of ViSalus and the opportunity for our Promoters and customers to make an impact on the worldwide obesity epidemic.  Our goal is to make ViSalus a household brand by providing a simple, social and achievable method for our customers to reach their health and fitness objectives."

Mr. Blair continued, "Today's agreement also highlights the ViSalus/Blyth partnership.  We have worked with Blyth for five years now and we plan to work with them for many more".

Robert B. Goergen, Chairman and Chief Executive Officer of Blyth said, "We are extremely pleased to have finalized this agreement.  It meets our objectives of providing the ViSalus Founders and other members of their management team with an equity participation in ViSalus's future results, with an eight year vesting arrangement applying to the Founders.  Moreover, as a group, the ViSalus Founders continue to be significant Blyth shareholders, strengthening further this alignment.  I look forward to working with Ryan and his management team to grow the ViSalus business together, making ViSalus a worldwide household brand synonymous with 'healthy lifestyle.'"

ViSalus also announced today that it will adopt a dividend policy pursuant to which it intends to pay regular cash dividends to its stockholders, subject to approval by its and Blyth's boards of directors.  

In addition, ViSalus is entering into new five-year employment agreements with Ryan Blair, our Chief Executive Officer, and Blake Mallen, our Chief Marketing Officer. ViSalus also intends to create a management equity incentive plan.  ViSalus intends to issue stock options and restricted stock units that will vest over an eight-year period to Mr. Blair, Mr. Mallen and ViSalus's third Founder, Nick Sarnicola, Global Ambassador.  ViSalus also intends to issue stock options and restricted stock units to members of its senior management team that will vest over a three-year period. 

Learn more about ViSalus at www.visalus.com and www.bodybyvi.com.
www.facebook.com/visalus  www.twitter.com/visalus

Special Note about Forward-Looking Statements

ViSalus is a majority owned subsidiary of Blyth, Inc., a public company that is listed on the New York Stock Exchange.  This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements concerning the payment to be made by Blyth in December 2017, ViSalus's intention to redeem and terminate its Equity Incentive Plan, ViSalus's intention and ability to pay cash dividends and ViSalus's intention to adopt a management incentive plan and to issue stock options and restricted stock units thereunder.  Forward-looking statements also include statements concerning Blyth's and ViSalus's plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements that are other than statements of historical facts and may be identified by words such as "will," "expect" or "intend" and any other similar words.  Actual results could differ materially due to various factors, including Blyth's ability to make the payment in the amount of $147.5 million in December 2017, the slowing of the United States economies, the risk that we will be unable to maintain our historic growth rate, our ability to respond appropriately to changes in product demand, risks associated with our ability to recruit new independent sales consultants, our dependence on key corporate management personnel, risks associated with the sourcing of raw materials for our products, competition in terms of price and new product introductions, risks associated with our information technology systems and other factors described in this press release and in Blyth's most recently filed Annual Report on Form 10-K and other filings made by Blyth with the Securities and Exchange Commission.  The forward-looking statements made in this press release are made only as of the date of this release, and Blyth and ViSalus undertake no obligation to update them to reflect subsequent events or circumstances except as may be required by securities laws.

About ViSalus
Founded in 2005 with headquarters in Los Angeles, CA and Troy, MI, ViSalus is the company behind the wildly successful Body by Vi™ Challenge, a 90-day personal health and lifestyle transformation platform. ViSalus champions personal victories and entrepreneurship through a social marketing model, premium products, and supportive global community. Simple, affordable, rewarding and fun—the Body by Vi Challenge is the #1 weight-loss and fitness Challenge in North America today. ViSalus is majority-owned by Blyth, Inc. (NYSE: BTH).

Media contact:
Tyler Schuessler, Chief Administrative Officer
[email protected] l (203) 552-6673

SOURCE ViSalus

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
Is the ongoing quest for agility in the data center forcing you to evaluate how to be a part of infrastructure automation efforts? As organizations evolve toward bimodal IT operations, they are embracing new service delivery models and leveraging virtualization to increase infrastructure agility. Therefore, the network must evolve in parallel to become equally agile. Read this essential piece of Gartner research for recommendations on achieving greater agility.
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...