UBM Aviation Routes Limited acquires Airlineroute.net

May 20, 2012 — Fusion DigiNet

UBM Aviation Routes Limited has acquired Airlineroute.net, an online blogging website for route development scheduled changes. Airlineroute.net is the airline network planning community’s top blogging site and it is used by thousands of airline network planners and airport aviation professionals each day.

The blog will be integrated into the news section of Routesonline, the online route development forum and official website of Routes, which has, since its re-launch in May 2008, been a central source of route development information to airports and airlines.

Routesonline also allows airports to promote their market opportunities and airlines to access one resource for all their market data and route development information, as well as being a key source of route development news and analysis through their HUB newsletter.

David McMullen, Business Development Director of Routesonline stated “Airlineroute.net is the most highly regarded source of airline route development news and is currently used by over 800 companies, the synergies between this site and the Routes brand are clear and we are delighted to offer our clients this tool to track changes in airline schedules.”

Routesonline has developed year on year since its inception in 2008, it now offers its 18,000 registered users not only industry and event news but also the unique Route Exchange facility which is where airports and airlines create profiles.  Airlines post available aircraft capacity and airports can send proposals direct to the airlines  Airline users also have direct access to Route Exchange airport profiles, which have full airport intelligence and allow contacts to be made before or after Routes events. The Route Exchange also facilitates an online Request for Proposals (RFP) process where airlines use the Route Exchange to request for proposals from airports to assist them in their network developments plans. This facility was only introduced last year and has already had Air Asia X, Scoot and Indigo airlines participate with further RFPs planned for later in the year.

UK, London & Estonia, Tallinn

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Smiths News acquires Hedgelane

May 18, 2012 — Fusion DigiNet

Smiths News PLC, the UK based wholesaler of newspapers, magazines and books, has acquired Hedgelane Limited whose principal subsidiary trades as The Consortium for Purchasing and Distribution Limited, a UK specialist distributor of consumable products to the educational market, for an aggregate consideration of £38.0m, equivalent to an enterprise value of £44.1m.

The aggregate consideration comprises £32 million of initial cash consideration to be financed through existing available debt facilities, up to £2 million of deferred consideration payable in cash in January 2013 dependent on certain conditions and to be financed through available existing debt facilities, and up to £4 million of deferred consideration payable in Smiths News PLC shares in January 2014 dependent on certain conditions.

The Consortium is a profitable, cash generative business that is expected to add an additional £64 million sales and £7 million EBITDA to Smiths News PLC on a proforma FY12 basis.  The transaction is immediately EPS accretive and will generate returns significantly above the Group’s cost of capital.

UK, Swindon, Wiltshire

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Ziff Davis Acquires ComputerShopper.com

May 14, 2012 — Fusion DigiNet

Technology media company Ziff Davis has acquired ComputerShopper.com, a destination for expert, labs-based reviews and comparison shopping of technology products.

Computer Shopper has long been an authoritative voice in the hardware and software industries, initially as a print publication and today as a website attracting over 1.5 million unique visitors per month.

The fifth acquisition for Ziff Davis since the beginning of 2011, ComputerShopper.com gives the fast growing digital media company yet another influential property that plays a critical role in guiding technology buyers in their purchase decisions.

Founded in 1979, Computer Shopper was a Ziff Davis property from 1993-2001 when it was sold to CNET. SX2 Media Labs, which purchased Computer Shopper from CNET in 2006, is now selling it back to Ziff Davis.

“We’re thrilled to be bringing Computer Shopper back into the Ziff Davis portfolio as a digital business with a very devoted audience,” said Vivek Shah, CEO of Ziff Davis. “ComputerShopper.com perfectly fits our mission to inform and influence buyers of technology.”

ComputerShopper.com will join PCMag.com, ExtremeTech.com, Geek.com, Toolbox.com and LogicBuy.com in Ziff Davis’ group of owned-and-operated properties.

USA, New York, NY

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Thomson Reuters sells its Healthcare business to Veritas for $1.25bn

April 23, 2012 — Fusion DigiNet

Thomson Reuters is to sell its Healthcare business to an affiliate of Veritas Capital for $1.25 billion in cash. The sale is expected to close in the next few months. The sale is not subject to any financing condition. Veritas has obtained debt financing commitments for the transaction.

The Healthcare business provides data, analytics and performance benchmarking solutions and services to hospitals, health systems, employers, health plans, government agencies and healthcare professionals. With leading assets and solutions such as MarketScan, Advantage Suite, Micromedex, CareDiscovery and ActionOI, coupled with expert services and analysis, the Healthcare business provides its customers with solutions to identify savings, improve outcomes, fight fraud and abuse and more efficiently manage their healthcare operations.

“We are proud of our colleagues who built a very strong Healthcare business,” said James C. Smith, chief executive officer of Thomson Reuters. “I know they will continue to serve their customers with the same high standards under new ownership. With the completion of the divestiture, Thomson Reuters will be even more focused on our core global businesses.”

“The Healthcare business of Thomson Reuters is the preeminent healthcare analytics company in the industry today,” said Robert McKeon, chairman of Veritas Capital. “The acquisition will provide us with a unique and exciting opportunity to add a truly outstanding business and world-class management team to our portfolio and we look forward to building upon our experience in the healthcare analytics market. We look forward to welcoming the business and its talented employees, including its talented management team led by Mike Boswood, into the Veritas family.”

“We are excited to become part of Veritas Capital. Veritas is committed to helping us continue to grow and expand our business and our customers should expect the same level of high quality services after the transaction closes,” said Mike Boswood, president of the Healthcare business.

Morgan Stanley and Allen & Company are acting as financial advisors to Thomson Reuters for the proposed divestiture. Covington & Burling LLP is acting as legal counsel for Thomson Reuters.

USA, New York, NY

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Argus acquires Fundalytics

April 19, 2012 — Fusion DigiNet

Energy and commodity price reporting agency Argus has acquired Fundalytics, a specialist European natural gas fundamentals data service. The terms of the acquisition were not disclosed.

Founded in 2009, Fundalytics compiles, cleans and publishes fundamental data for European natural gas markets. Data sets include supply and demand, inventories, interconnector flows, nominations, allocations and many other types of key information useful for planning and analysis. Data are available on an intra-day basis and can be delivered in multiple formats.

Argus Media chairman and chief executive Adrian Binks said: “Fundalytics data are a complementary service to the pricing and analysis services provided by Argus for international natural gas markets. This acquisition means that Argus can provide a fuller service to our clients. Argus prices are already used extensively as benchmarks in physical and derivative contracts for natural gas and other forms of energy. High quality fundamentals data will add a further valuable information source.”

Fundalytics director Chris Dodds said: “I am very pleased to be working with Argus. Argus has the price reporting expertise and analysis skills that will help to develop our data services further. The two companies together will be be able to offer a first-rate full service to our complementary client and prospect databases.”

UK, London

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DMGT – trading update for the six-month period to the end of March 2012

April 17, 2012 — Fusion DigiNet

DMGT has issued an update on the Group’s progress in the current year. It covers the six-month period to the end of March 2012.

Summary

-       Solid Group revenue performance, up 2% underlying

-       Good underlying growth from B2B operations

-       Resilient revenue performance at Associated; circulation and digital revenue growth largely offsetting print advertising weakness

-       Active portfolio management; targeted acquisitions and disposal of non-core assets

-       Outlook for the year remains unchanged.

 

Acquisition activity

Active portfolio management has seen further bolt-on acquisitions, including:

-       Intelliworks – a top provider of relationship management solutions for higher education (dmgi – Hobsons)

-       PrepMe – a leader in adaptive learning technologies and test preparation programs (dmgi – Hobsons)

-       SpringRock – a cutting-edge provider of dynamic production forecasts for the oil & gas industry (dmgi – Genscape)

-       Global Grain Geneva and Global Grain Asia – international grain trading conferences (Euromoney) (A Fusion deal – click here for details)

-       Jobrapido – one of the world’s largest job search engines (Associated -Evenbase)

This continuing portfolio management activity has also seen A&N Media selling its interests in Top Consultant, motors.co.uk and Teletext.

Yesterday, the Office of Fair Trading gave clearance for the proposed merger between the Digital Property Group and Zoopla to go ahead.

Read the full announcement here

UK, London

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Euromoney Institutional Investor – trading update – half year profits of not less than £47M

April 17, 2012 — Fusion DigiNet

Euromoney Institutional Investor PLC, the international publishing, events and electronic information group, has issued a trading update ahead of the announcement of its results for the half year to March 31, 2012.

Group revenues for the six months to March 31, 2012 are expected to show an increase of 13% to £189 million.  Underlying revenues, excluding the impact of last year’s acquisition of Ned Davis Research (NDR), increased by approximately 5%.  Headline subscription revenues are expected to have increased by 22%, and accounted for 53% (2011: 49%) of the group’s revenues for the period.  Underlying subscription revenues, excluding NDR, increased by approximately 7%, continuing the good momentum from 2011. Advertising and sponsorship revenues are down by 8%. The stronger performance of delegate revenues in the second quarter was mostly due to timing differences on events and the impact of the political unrest in the Middle East on delegate bookings last year.

The following table summarises the expected year-on-year revenue changes for the six months to March 31 at both headline rates and at constant currency:

For the half year to March 31, 2012, Euromoney expects to announce an adjusted profit before tax* of not less than £47 million (2011: £41.6 million).  The adjusted operating margin^ is expected to be unchanged at 30%.

Group net debt at March 31, 2012 is expected to be no more than £90 million, down from £119.2 million at September 30, 2011.  The reduction in net debt largely reflects the continued strong operating cash flows of the group.

Recent sales trends suggest the outlook for advertising revenues remains challenging, while the outlook for the events businesses, for which the third quarter is the most important of the year, is positive.  Overall trading remains in line with the board’s expectations.

The half year results will be announced on the morning of May 17, 2012, followed by an analyst presentation and investor meetings. Euromoney is participating in the DMGT investor day on April 18 when it will give a presentation covering the importance of emerging markets to its growth strategy.  No further comment on trading will be given at this meeting.

* Adjusted profit before tax is profit before tax, acquired intangible amortisation, exceptional items, deferred consideration adjustments and non-cash movements in acquisition option commitment values.

^ Adjusted operating profit is operating profit before acquired intangible amortisation, long-term incentive expense, exceptional items and share of results in associates.

UK, London

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Bloomsbury Publishing acquires Fairchild Books

April 16, 2012 — Fusion DigiNet

Bloomsbury Publishing’s US subsidiary, Bloomsbury Publishing Inc, has acquired Fairchild Books from Fairchild Fashion Media, a unit of Conde Nast, for $6,500,000. The consideration will be paid in cash from existing cash balances in three equal annual installments, commencing at completion.

For the year-ended 31 December 2011, Fairchild Books generated net profit before tax of $706,000 and as at 31 December 2011 had gross assets of $7,567,000.

Fairchild Books, based in New York, is a market-leading publisher of textbooks and educational resources for students of fashion, merchandising, retailing and interior design. It has a strong history dating back to the nineteenth century and a world-class reputation for producing student materials for the fashion and design industries.

The Fairchild Books list is highly complementary to Bloomsbury’s existing academic list in the Visual Arts, which was bolstered by the acquisition of Berg Publishers in 2008, the launch of the award-winning Berg Fashion Library www.bergfashionlibrary.com in 2010 and the acquisition of a fashion photography archive in 2011.

Following the acquisition, the business will be managed by Kathryn Earle, Bloomsbury’s Head of Visual Arts, and will report in to Bloomsbury’s Academic & Professional division.

Bloomsbury’s successful integration of the Continuum business, purchased in July 2011, was the cornerstone acquisition of the Academic & Professional division, providing it with critical mass and excellent opportunities for organic growth and digital exploitation.

Nigel Newton, Chief Executive of Bloomsbury commented, ”The acquisition of Fairchild Books is part of Bloomsbury’s long term strategy to increase its Academic Publishing turnover in the USA, the largest market for English language textbooks.  There is an excellent fit between Fairchild Book’s list and Bloomsbury’s visual arts lists.

UK, London & USA, New York, NY

 

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OFT clears the merger between the Digital Property Group and Zoopla

April 16, 2012 — Fusion DigiNet

The Office of Fair Trading (OFT) has today given clearance for the proposed merger between the Digital Property Group and Zoopla to go ahead. Digital Property Group is part of A&N Media, the consumer media division of DMGT. The merger will bring together Findaproperty.com, Zoopla.co.uk and Primelocation.com. The transaction is now expected to complete within the next few weeks.

Evidence received by the OFT during its investigation found that the merger would not result in reduced competition and consequently did not warrant reference to the Competition Commission for further investigation.

Mark Milner, CEO of the Digital Property Group said, “This is an important day for the industry, given the long-awaited balance in the market that this deal will deliver. It has been a long time coming and the enhanced value that the combined business will provide will make this deal a clear win for UK estate agents, letting agents and housebuilders.”

Martin Morgan, Chief Executive of DMGT said: “We are delighted that the merger has been approved. We now have the opportunity to challenge the market leader in the online property sector, to the benefit of both consumers and clients”.

See also - FindaProperty, Primelocation and Zoopla to merge to take on Rightmove posted on November 7, 2011.

UK, London

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DMGTacquires Jobrapido

April 16, 2012 — Fusion DigiNet

A&N Media, the consumer media business of DMGT, has acquired Jobrapido, one of the world’s largest job search engines. Jobrapido will be combined with A&N Media’s existing digital recruitment group, which is now renamed as Evenbase in order to reflect the wider scope and international reach of the enlarged group.

This acquisition gives Evenbase – which includes Jobsite, OilCareers and Broadbean – access to one of the world’s largest databases of job seekers and a global footprint with strong positions in a number of key international markets.

The completion consideration is €30 million.  The Jobrapido management team is incentivised to enhance this valuation over the next few years through an earn-out arrangement based on achieving agreed financial and business performance objectives.  Jobrapido achieved revenues of c. €24 million and profits of c. €6 million during calendar year 2011.

Jobrapido was established in Italy in 2006 by its Chief Executive, Vito Lomele. It is the second largest international job search engine in the world, delivering last year 660 million visits from job seekers (most recently 32 million unique visitors in March 2012) in more than 50 countries.

Keith Potts, Evenbase Chief Executive, said: “I’m absolutely delighted to secure such a valuable asset for the group. Candidates are, and will always be, the raw material for recruitment. Jobrapido gives us access to job seeking candidates on a global scale and supercharges the transformation of our business model.”

Martin Morgan, CEO of DMGT said: “Bringing the Jobrapido team into the DMGT group is a great example of DMGT’s core strategy in action.  We seek out and acquire market leading businesses with strong positions in rapidly growing international markets. We have a strong culture of entrepreneurial management and like to retain and empower the people who built those businesses.”

UK, London & Italy, Milan

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