Euromoney Institutional Investor completes Dealogic transaction

dealogic_logoEuromoney Institutional Investor PLC, the online information and events group, has completed the acquisition of a 15.5% equity stake in New Dealogic for £59.2 million. For the year to December 31, 2013, Dealogic achieved adjusted earnings before interest, depreciation and amortisation of $66.7 million on $152.3 million of revenues, and at that date had gross assets of $127.7 million. The transaction takes effect from December 18.

See also: Euromoney to acquire a strategic shareholding in Dealogic: Sells Capital DATA and Capital NET posted on November 5, 2014

New Dealogic is a new company incorporated by The Carlyle Group to acquire Dealogic Holdings plc alongside Carlyle and Dealogic’s founders.  Euromoney’s investment in New Dealogic has been funded through the sale to New Dealogic of its interests in two businesses, Capital DATA and Capital NET, which Dealogic and Euromoney had operated jointly since the 1980s. The transaction values Euromoney’s participation in these two businesses at $85 million.

Dealogic provides data and analytics, market intelligence and capital markets software solutions to investment banks to help them manage their workflows, assist with deal origination and execution, and optimise productivity across their equity capital markets, fixed income, investment banking and research, sales and trading businesses.

UK, London

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POLITICO and Axel Springer acquire EUROPEAN VOICE

POLITICO, the Washington-based political news organisation, and Axel Springer, the owners of the POLITICO joint venture in Europe, have acquired EUROPEAN VOICE and will rebrand the Brussels publication as POLITICO in the spring of 2015.

The owner and publisher of the EUROPEAN VOICE, Shéhérazade Semsar-de Boisséson, will become managing director of POLITICO’s European operation, in charge of business operations. POLITICO’s European news operation will be led by Executive Editor Matthew Kaminski, a senior journalist and commentator on international affairs with The Wall Street Journal.

POLITICO’s European editorial operations will launch in spring 2015 with a website, POLITICO.EU; a weekly newspaper with circulation in Brussels; conferences and events in Brussels, Paris and Berlin; and a European edition of POLITICO Pro, a subscription-based news service covering major European policy coverage areas, such as financial services, technology, health care and energy.

Kaminski will report to POLITICO co-founder and Editor-in-Chief John F. Harris, who will be overseeing the vision and execution of POLITICO’s European newsroom in his position as chairman of the joint venture’s editorial committee. As editor in chief, Harris will be a regular presence in Brussels as the joint venture takes one of the most influential brands in American journalism to the European arena. Bill Nichols, POLITICO’s editor-at-large, will serve as the joint venture’s founding editor-at-large. Florian Eder, EU correspondent for DIE WELT, will become a managing editor. Carrie Budoff Brown, senior White House reporter for POLITICO, will become associate editor and senior reporter. POLITICO’s Gabe Brotman will oversee strategy and business development.

The EUROPEAN VOICE website, newspaper and events will all be integrated with POLITICO at the time of the spring launch. The joint venture will also take ownership of Paris-based Development Institute International (DII), France’s event promoter in the public affairs space, a business Semsar-de Boisséson co-founded in 1993. DII will continue to operate as a standalone business led by its Managing Director and co-founder Stephane Baudoin.

Semsar-de Boisséson will report to a management committee in which Axel Springer and POLITICO are equally represented.

“We see EUROPEAN VOICE, a familiar and well-respected platform in Brussels, as giving our joint venture an invaluable head start in establishing POLITICO as the new media agenda-setter at this historic moment in European politics,” said Ralph Büchi, President of Axel Springer International. “From the moment we met Shéhérazade, it was clear that her strong personality, energy and experience made her exactly the right person to lead this business.”

Germany, Berlin & Belgium, Brussels

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21st Century Fox to Acquire true[X]

21CF21st Century Fox is to acquire true[X] media, a video advertising company that specializes in consumer engagement and on-demand marketing campaigns. The terms of the deal were not disclosed.

true[x] mediaFounded in 2007, with headquarters in Los Angeles and New York, and offices in Chicago, San Francisco, Atlanta, and Detroit, true[x] offers online publishers and advertisers a marketing platform for premium content in digital and on-demand environments. The Company’s client list includes Microsoft, Visa, Apple, Disney, Coca-Cola, Kia, Kraft, Macys, Nestle, and Procter & Gamble. Following the acquisition, true[X] will remain a stand-alone business.

“The connections between brands and consumers have continued to evolve within digital video environments, and true[x] is at the center of this vital area of innovation,” said James Murdoch, Co-COO of 21st Century Fox. “We’re thrilled at the opportunity to have true[x]’s talented team work with us as we set out together to create new experiences in what we believe is a very exciting time in digital video.”

USA, New York, NY

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Social media monitoring business Brandwatch acquires PeerIndex

Social media monitoring business Brandwatch, which raised $22 million in May this year, has acquired PeerIndex, a London-based company providing social media analytics based on footprints from use of major social media services. The terms of the deal were not disclosed. According to TechCrunch, it was done mostly for shares in Brandwatch, with some cash.

PeerIndex was founded in 2010 by Azeem Azhar. The company has raised a total of £5 million.

Writing in the Brandwatch blog, Giles Palmer, CEO of Brandwatch said:

“Until now, however, it has not been a very deep tool for understanding audiences – the people who create, read and share content. As we thought about this and started to piece together our ideas for how we could develop data and systems that would bring this fascinating information to light, I happened to be speaking at an event with Azeem Azhar.

As we talked, I became acutely aware that PeerIndex were years ahead of us in their understanding and technology for influencer analytics and mapping.

I thought that if we could add their technology and know-how into Brandwatch, we’d be able to create something that doesn’t exist in the market today.”

brandwatch

UK, London

 

WPP increases its stake in IBOPE, Latin America’s data investment management group

wppWPP’s wholly-owned media research and analytics business, Kantar Media, is to acquire the entire issued quota capital of IBOPE Participações Ltda, which holds a majority of the capital of IBOPE Pesquisa de Midia e Participações Ltda, IBOPE Latinoamericana SA and IMI.com (collectively the “IBOPE Media Group”).  WPP has been a minority shareowner in the IBOPE Media Group since 1997.

In addition, WPP will acquire the remaining 45% stake that it does not already own in Millward Brown do Brasil Ltda,  a market research agency,  already part of Kantar.  The Group will also acquire a 49% stake in IBOPE Inteligȇncia Pesquisa e Consultoria Ltda, the best-known political and social polling brand in Latin America.

Founded in 1942 in Rio de Janeiro, Brazil, as The Brazilian Institute of Public Opinion and Statistics, IBOPE is a provider of insight, information and data in the Brazilian and Latin American markets.  The IBOPE Media Group employs over 2,200 people in offices in 16 countries,  throughout Latin America and the United States. 

For the year ending 30 September 2013, IBOPE Media’s gross revenues were R$392 million, with gross assets of R$225 million as at the same date. Clients include media owners, investors and marketing communications agencies.  

Commenting on the deal, Sir Martin Sorrell, CEO, WPP said:  “I’m very pleased to welcome our long-standing partners at IBOPE fully into the WPP group. This acquisition further strengthens our capabilities in data investment management and at the same time in an important fast growth region. We intend to accelerate and deepen IBOPE’s investment plans in Latin America, enabling us to offer regional clients the critical data they need, both in stand-alone media research and also in ways that combine media and purchase data to even more powerful effect. “

UK, London & Brazil, Rio de Janeiro

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Porta Communications acquires Publicasity for £2.8M

porta-logoPorta Communications PLC, the marketing and communications group, has acquired ICAS Holdings Limited and its 100% owned subsidiary which trades as Publicasity for £2.8 million.  Run by Zoe Ward-Waring and Tom Hargreaves, Publicasity, is a consumer public relations company specialising in the food & drink, travel & tourism, retail, home and fashion sectors.

publicasityThe agency’s 28 staff will relocate to Porta’s head office in Basinghall Street following the completion of the acquisition, and will work alongside Porta’s existing consumer PR company, Thirteen Communications.

In 2013 Publicasity produced profit before tax of £527,567 on a gross profit (fee income) of £3,073,712. Total assets less current liabilities were £2,165,714, including cash of £382,986.

Details of the acquisition

The consideration of £2,808,000 will be paid as £702,000 in cash, £702,000 in loan notes, with the balance of £1,404,000 in the form of 14,040,000 Porta ordinary 10p shares at 10p each.  The loan notes carry a coupon of 6 per cent and are redeemable for cash 12 months from the date of issue.  

The share consideration is subject to a 24 month lock-in period with a further 12 month orderly market period.  A further 2,457,000 Ordinary Shares may be issued as additional consideration should certain conditions be satisfied. However, both parties do not expect additional consideration shares to be issued at this time.

Commenting on the acquisition, Porta Chief Executive David Wright said:

“Publicasity will work alongside Thirteen Communications to create a far bigger and more diversified consumer PR offering within Porta.  This acquisition along with the previous acquisitions of WSM Print & Design and Digital, Redleaf Polhill and PPS made in 2014, mean that Porta is successfully progressing its acquisition strategy to supplement the strong organic growth in our existing dynamic businesses.  The acquisition of Publicasity should greatly enhance our ability to build a successful leading international brand given the quality of both teams and is expected to be earnings enhancing in 2015.”

UK, London

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Tiger Media to acquire Interactive Data, LLC

Tiger MediaTiger Media, a Shanghai-based media company, is to acquire The Best One, Inc., parent company of U.S.-based data solutions provider Interactive Data, LLC. Interactive Data is headquartered in Atlanta, GA and has its primary technology office in Seattle, WA.

id-logo1Interactive Data’s recently expanded management team has been executing on an aggressive growth plan in a multi-billion dollar market of risk management and marketing data solutions.

Commenting on the Acquisition, Robert Fried, Chairman of Tiger Media stated, “We are excited to acquire TBO. We were looking for a U.S. partner who would also be able to expand our China operations. We believe this Acquisition with TBO will give our shareholders an excellent opportunity to realize increased value on their investment.”

Under the terms of the merger agreement, current shareholders of Tiger Media and TBO will own approximately 34% and 66% of the combined company, respectively, following the Acquisition. Approximately 65% of the shares to be issued to TBO shareholders in the Acquisition will be non-voting preferred stock, and 30% of those shares will only be issued upon achievement of certain revenue targets. The Acquisition is expected to close in the first quarter of 2015, is subject to customary conditions to closing as detailed in the merger agreement, as well as the affirmative vote of a majority of the outstanding shares of Tiger Media entitled to vote.

In connection with the Acquisition, Tiger Media will be redomesticating as a Delaware company. The affirmative vote of 2/3 of the votes cast at the Tiger Media meeting will be required for domestication in Delaware. The structure of the transaction will be in the form of an acquisition with TBO merging into a wholly-owned subsidiary of Tiger Media, with the Tiger Media subsidiary as the surviving corporation that will now be headquartered in Atlanta, GA.

Following the Acquisition, Derek Dubner, CEO of TBO, will join Tiger Media as Co-CEO along with Peter Tan, current CEO of Tiger Media. Robert Fried will remain Chairman of the Board. Also, following the Acquisition, Derek Dubner and Daniel MacLachlan will join the Tiger Media Board, increasing the Tiger Media Board from five members to seven members.

Cassel Salpeter is acting as financial advisor and Akerman LLP is acting as legal counsel to Tiger Media. Nason Yeager is acting as legal counsel to TBO.

Shanghai & USA, Atlanta, GA

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