The Mission Marketing Group acquires Asian-focused Splash Interactive

MissionThe Mission Marketing Group plc, a marketing communications and advertising group, is acquiring 70 per cent of the Asian-focused digitally-led marketing services agency group, Splash Interactive Pte. Ltd. Splash has offices in Singapore, Shanghai, Hong Kong, Malaysia and Vietnam

Completion of the Acquisition is expected by 20 October 2014, when an initial consideration payment of SGD 0.6m (£0.3m) will be payable in cash. The rest of the consideration will be paid cash instalments depending on profitability during the period to 31 December 2017. The vendors will continue to manage the business.

The Mission Marketing Group plc announced today that it has placed 5,691,908 new ordinary shares of 10 pence each with new and existing institutional shareholders at a price of 42 pence per Ordinary Share to raise £2.4m to fund future acquisitions and general working capital purposes

In the year ended 31 December 2013, Splash achieved an underlying profit before tax of c£100k and reported in its statutory accounts a profit before tax of SGD 64,000 (c£31k) on turnover of SGD 5.0m (£2.4m). The management team of Splash say they expect to see a substantial growth in profits in the current financial year. At the balance sheet date, Splash had net assets of SGD 1.8m (£0.9m).

David Morgan, Group Chairman of The Mission Marketing Group, said, “This is a truly Client-led initiative in that for a number of our Clients we are already delivering campaigns in the region and this acquisition can only help them benefit from Splash’s market knowledge and region reach. They are a great, young, vibrant team who have created some innovative techniques and ideas that we are looking forward to introducing to our Mission Agency Clients in the future.”

UK, London & Malaysia, Selanger

Energy Assets Group acquires Origin Technical Business Services

Energy Assets GroupEnergy Assets Group plc, the UK provider of industrial and commercial gas metering services in the UK, has acquired the entire issued ordinary share capital of Origin Technical Business Services Limited, a provider and developer of mobile works management systems, data capture, data hosting and analysis services to both Energy Assets and a number of other customers within the utility sector

The total value of the transaction is £0.85m. It includes an initial payment of £0.4m, a deferred consideration of £0.25m and an amount of £0.2m for the completion cash balance. 

Phil Bellamy-Lee, Chief Executive of Energy Assets, said, “The software services that Origin provides are key components of our bespoke management systems and the acquisition will enable Energy Assets to further improve the service offering provided to our customers through differentiated technology.”

Based in Chesterfield, Origin was established in 2001 by Simon Matthews as a spin off from British Gas contractor, Thomas Bermingham.  The company has nine employees including a team of software development engineers.  Origin has a long standing relationship with Energy Assets Group and currently provides the software interface and on-site mobile installation and audit platform for Energy Assets’ project and supply chain management platform ‘TEAMS’. All intellectual property rights will transfer on acquisition.

UK, Blackburn, Lancashire

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UBM agrees to acquire Advanstar for $972M

UBMUBM has agreed to buy Advanstar Communications for $972 million (£599 million) in cash.

Advanstar’s CEO, Joe Loggia, will continue to manage the Advanstar business within UBM and will report directly to UBM CEO Tim Cobbold for a transitional period.

UBM will launch a new financing package to pay for the deal comprising of a $914 million (£563 million) Rights Issue and a new US$100 million UBM bridge facility.

advanstar“This is a great acquisition for UBM and its shareholders.” Commented Tim Cobbold, Chief Executive Officer of UBM, “In addition to being financially attractive, it strengthens UBM’s core events business while balancing and complementing UBM’s strong events portfolio in emerging markets. UBM will become the largest events organiser in the US – the biggest events market in the world. Advanstar gives UBM a portfolio of high quality, large scale `must-attend’ events which serve growing markets, particularly the US fashion industry, a new vertical for UBM.”

The Wall Street Journalist is reporting that some analysts have speculated UBM will sell its news release business PR Newswire, which would turn UBM into a company almost fully focused on events.

Previous Fusion DigiNet reporting

UK, London & USA, Santa Monica, CA

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Sky tops up its investment in Roku

sky summer_logoSky has made a further $0.7m equity investment in Internet streaming device maker Roku. This follows the total investments of $12.2m made by Sky in Roku in July 2012 and May 2013, and is to provide financing for Roku’s operations and activities.

Sky’s press release also mentioned that 21st Century Fox have also made a further equity investment in Roku,” but didn’t provide financial details.

USA, New York, NY & UK, London

News Corp to acquire online US real estate business Move

newscorpRupert Murdoch’s media company News Corp is to acquire Move, an online US real estate business. REA Group Limited, which is 61.6% owned by News Corp and is the operator of the Australian residential property website, realestate.com.au, plans to hold a 20% stake in Move with 80% held by News Corp.

moveThrough realtor.com and its mobile applications, Move displays more than 98% of all for-sale properties listed in the US, sourced directly from relationships with more than 800 Multiple Listing Services across the country. The Move Network of websites, which also includes Move.com, reaches approximately 35 million people per month, who spend an average of 22 minutes each on its sites.

realtorNews Corp will acquire all the outstanding shares of Move for $21 per share, or approximately $950 million (net of Move’s existing cash balance), via an all-cash tender offer. This represents a premium of 37% over Move’s closing stock price on September 29, 2014. REA’s share will be acquired for approximately US$200 million. News Corp intends to commence a tender offer for all of the shares of common stock of Move within 10 business days, followed by a merger to acquire any untendered shares.

For the year ended December 31, 2013, Move reported $227 million in revenues, and $29 million in adjusted EBITDA

“This acquisition will accelerate News Corp’s digital and global expansion and contribute to the transformation of our company, making online real estate a powerful pillar of our portfolio,” said Robert Thomson, Chief Executive of News Corp. “We intend to use our media platforms and compelling content to turbo-charge traffic growth and create the most successful real estate website in the US. We are building on our existing real estate expertise and expect to leverage the potential of Move and its valuable connections with Realtors® and consumers around the country.”

Move owns ListHub, a digital platform that aggregates and syndicates MLS data to more than 130 online publishers, reaching approximately 900 websites.

Move will become an operating business of News Corp and remain headquartered in San Jose, California. The company, started in 1993, has 913 employees.

USA, New York, NY & San Jose, CA

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Moody’s to Acquire Full Ownership of Copal Amba

moodysMoody’s Corporation is to acquire the remaining outstanding shares of Copal Amba. Moody’s is currently a majority owner of Copal Amba, which was formed through the acquisitions of Copal Partners in 2011 and Amba Investment Services in 2013.

Copal AmbaCopal Amba, a leader in the market for Knowledge Process Outsourcing (KPO), provides offshore research, analytics and business intelligence services to the financial and corporate sectors. Its clients range from global financial institutions and Fortune 100 corporations to boutique investment banks and asset managers.

“Copal Amba has had strong momentum since its formation and has expanded its penetration into the growing market for outsourced financial research, analytics and business intelligence services,” said Linda S. Huber, Executive Vice President and Chief Financial Officer of Moody’s.

The acquisition of the remaining shares is not expected to have an impact on Moody’s earnings per share in 2014 and will be funded from international cash on hand. The terms of the transaction, which is expected to be finalised in Q4 2014, were not disclosed.

USA, New York, NY

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WPP’s GroupM acquires 49% of Haworth Marketing + Media in the United States

wppWPP’s wholly-owned media investment management company, GroupM, has acquired 49% of media agency Haworth Marketing + Media in the United States.

Haworth’s billings for the year ended 31 October 2013 were approximately US$700 million with gross assets of US$87 million at the same date. The agency manages media investment for clients such as Target, Ben & Jerry’s, Beats by Dr. Dre, Honeywell, DreamWorks Animation and The Oscars. Haworth, which employs 140 people and has offices in Minneapolis and Los Angeles, was founded in 1970.

UK, London & USA, Minneapolis, MN

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