AXIO Data Group completes acquisition of FlightView

OAGOAG, a provider of aviation information and analytical services, has acquired FlightView, Inc., the Boston-based provider of real-time flight information solutions for the aviation and travel industries. The terms of the deal were not disclosed.

flightviewFlightView‘s products help aviation and travel professionals achieve superior customer service, operational efficiencies, and has attracted strong brand loyalty with easy to use real-time information. FlightView brings more than 600 B2B customers from the travel, technology and general aviation sectors. In addition, FlightView’s smart phone apps have been downloaded more than 3 million times, its website has over 1 million monthly unique users and it responds to over 300m flight status requests every month.

OAG, headquartered in Luton, UK and with a global network of offices, is the aviation division of AXIO Data Group. Axio operates a portfolio of information businesses and is owned by funds managed by Electra Partners LLP.

Henry Elkington, Chief Executive of AXIO, said: “The addition of FlightView, with its highly complementary customer base and strength in the US market, will give OAG clear leadership in the growing global flight status and schedules data markets. This is the second significant bolt-on acquisition AXIO has made in the last 12 months. We continue to execute our strategy of building and improving each of our individual businesses to increase their value.”

UK, Luton & USA, Boston, MA

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Keywords Studios – early completion of Binari Sonori earn out

keywordsKeywords, a technical services provider to the video games industry, has agreed with the selling shareholders of Binari Sonori S.R.L to vary the terms of the acquisition agreement bringing to a close the earn out conditions 12 months earlier than originally agreed.  Under the terms of the acquisition, deferred consideration of no more than €4.0m could have been payable calculated by reference to the profit before interest and tax of Binari Sonori in the years to 31st December 2014 and 31st December 2015.

Previous DigiNet reporting: Keywords acquires Binari Sonori in Italy May 9, 2014

binariUnder the terms of the Agreement, the Group has agreed to pay to the Selling Shareholders total deferred consideration of €300,000 which will be satisfied by the issue of 158,250 new ordinary shares of Keywords at a price of 145.47 pence per share (being the volume weighted average price over the five business days immediately preceding the date of this announcement).  

The shares in Keywords issued to the Selling Shareholders will be credited as fully paid and rank pari passu with the existing issued ordinary shares of Keywords when issued.  The Selling Shareholders will be subject to a lock-in period of 12 months with respect to the Consideration Shares, subject to certain exceptions, followed by an orderly market restriction for a further 12 month period.

Ireland, Dublin & Italy, Milan

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Providence Equity acquires Clarion Events for over £200M

Providence EquityExhibition news is reporting that Clarion Events has been sold to global asset management firm Providence Equity in a deal thought to be worth just over £200 million.

ClarionThe report says Providence competed in a second round of bidding against ITE Group, Penton Media, Charterhouse Capital Partners and Carlyle Group LP. Providence are expected to invest in further acquisitions for Clarion.

Read the story here.

UK, London

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Kabam acquires games studios TapZen and Magic Pixel Games

kabam1Kabam has acquired Los Angeles-based games studios TapZen and Magic Pixel Games. The terms of the deal were not disclosed. TapZen and Magic Pixel will be merged into a new Kabam branded Los Angeles studio near Culver City.

TapZen was founded by Mike Verdu in 2012 and worked with Magic Pixel Games to create the bombastic mobile strategy game This Means War!. As part of Kabam, both TapZen and Magic Pixel will continue to build out the company’s strategy game lineup, which already includes franchises including Kingdoms of Camelot, Dragons of Atlantis, and The Hobbit: Kingdoms of Middle-earth, each of which have generated more than $100 million in revenue.

“Welcoming TapZen and Magic Pixel into the Kabam family is another significant milestone for Kabam,” said Co-Founder and CEO Kevin Chou. “The addition of Mike Verdu augments our world-class leadership team, and having a Los Angeles studio will strengthen Kabam’s already-deep relationships with our Hollywood partners.”

The acquisition of TapZen and Magic Pixel bring to nine the number of studios Kabam has acquired since 2010. Earlier acquisitions include of Phoenix Age (2014), Exploding Barrel Games (2013), Gravity Bear, Fearless Studios, Wild Shadow and Balanced World Studio (2012), and Wonderhill (2010).

USA, Los Angeles, CA

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Accenture to expand smart grid operations and energy trading and risk management services through acquisition of Structure

accenture1Accenture is to acquire Structure, a provider of consulting, system integration and customised solutions and services to energy and utilities clients. The terms of the transaction were not disclosed.

“Bringing together two very similar cultures with deep skills in the utilities and energy industries reinforces our ability to help our clients solve some of the most complex and critical challenges that lie at the heart of the digital transformation,” said Omar Abbosh, senior managing director, Accenture Resources operating group. “Structure’s capabilities in grid operations and power systems engineering, combined with Accenture’s global strengths in information technology (IT), will provide our clients with comprehensive end-to-end solutions and services to support the integration of operational technologies with IT systems, forging a path toward a smarter, more digital grid.

“This includes the deployment of advanced distribution management systems and automation solutions, as well as improved outage management and grid analytics. We also plan to combine Structure’s market operations and commodities trading services with Accenture’s capabilities in digital asset management to help our clients optimize their commercial positions.”

Founded in 1998, Structure is based in Houston. Its more than 190 employees will operate within Accenture’s Resources operating group.

The acquisition of Structure is the second for Accenture in the energy sector within a few months – in August last year it acquired Hytracc Consulting, an IT services company that provides IT consulting services to firms in the oil & gas sector. In December last year Accenture acquired Australia-based digital agency Reactive Media.

USA, Houston, TX

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WPP’s Wunderman acquires majority stake in digital marketing agency Phantasia in Peru  

wppWPP’s wholly-owned operating company Wunderman has acquired a majority stake in Binarix S.A.C. (“Phantasia”), a leading digital marketing agency in Peru. The terms of the deal were not disclosed.

Phantasia’s gross revenues for 2014 are expected to be S/.22.2 million. Clients include Telefonica, Backus, Banco de Credito, Samsung and Coca-Cola. Phantasia employs 200 people and is based in Lima. The agency, which provides consulting, digital marketing, creative and media buying services to its clients, was founded in 1998. It has been a Wunderman affiliate since 2012.

UK, London & Peru, Lima

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Communisis acquires Life Marketing Consultancy for up to £23.3M

communisisCommunication services business Communisis plc has acquired shopper marketing agency, Life Marketing Consultancy Limited.

Life’s adjusted EBITDA (on a normalised basis before non-recurring items) for the year ending 31 December 2014 is expected to be approximately £1.4 million. For the financial year ended 31 December 2013, Life generated adjusted EBITDA of £1 million on turnover of £7.0 million (£4.6 million net of recharged third-party costs). Gross assets of Life at that date were £3.6 million.

Communisis will acquire Life for an initial consideration of up to £14 million including its estimated free cash at completion of £0.7m. The initial consideration will be satisfied by the issue of a two-year, bank guaranteed promissory note of £9.3 million, £0.7 million in cash and the issue to the vendors of 7,988,015 new ordinary shares in Communisis. The new ordinary shares have a one-year restriction on sale.

Additional consideration of up to £9.3 million will be payable on the basis of Life’s future performance including its average adjusted EBITDA for the two financial years ending 31 December 2015 and 2016 and the contribution from defined synergies realised over Life’s three financial years ending 31 December 2017. The additional consideration will be satisfied in cash of up to £7.3 million and by the issue of new ordinary shares up to a value of £2.0 million.

The maximum consideration payable is £23.3 million.

Life is a research and insight-led shopper marketing agency. It’s clients are leading consumer goods groups especially in the food, drinks, technology and pharmaceutical sectors. Life has 63 permanent employees and operates from offices in Birmingham and London. The principal vendors, David Poole and Ian Humphris will join the Group in senior executive roles.

Shopper marketing focuses distinctly on understanding and influencing consumer behaviour within the shopping environment whilst also taking account of retailer strategies and requirements. It is an important component of the marketing budgets of large consumer goods brands.

Andy Blundell, Chief Executive, commented; “Life has an excellent reputation in shopper marketing. It brings new capability to Communisis, broadening our agency proposition and complementing the brand deployment services offered to our growing number of consumer goods clients. This acquisition will benefit our fastest growing and higher margin business segments.”

UK, London

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