Silver Lake Partners and Battery Ventures to acquire EDR from DMGT for $205M

Silver LakeSilver Lake and Battery Ventures have agreed to acquire EDR, a leading provider of real estate data and software-as-a-service, from the Daily Mail and General Trust plc for $205m. The investors areBattery Ventures global, growth-oriented firms focused on partnerships with market-leading technology companies. The transaction is expected to close in the coming weeks and is subject to
customary closing conditions.

EDR is a leader in property due-diligence and risk management technology and information. The company’s solutions enable clients — including environmental consultants and engineers, appraisers, and lenders — to manage real estate due diligence processes efficiently and effectively.

Joe Osnoss, Managing Director at Silver Lake, said, ”The real estate sector is continuing to evolve with the introduction of new technologies. EDR has a rich history of thought leadership in this area, and we plan to invest behind the company’s developing product roadmap to serve its important client ecosystem.”

Battery Ventures General Partner Scott Tobin added, ”We look forward to working closely with Chris Aronson and EDR’s management team. We believe that our investment will enable EDR to accelerate growth — including in the state-of-the-art Collateral360 SaaS platform — and extend its reputation as a leader in real estate data and software with a developing range of products and services.”

UK, London & USA, Shelton, CT

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Gfinity plc acquires RealSM Limited, owner of RealSport

GFinityGfinity plc, a leading international esports entertainment group, has acquired the entire issued share capital of RealSM Limited, owner of the fan-oriented digital sports media platform, RealSport, for a total consideration for approximately £2.4 million, to be settled wholly in new shares in Gfinity. The acquisition will be paid for by issuing 12.3 million Gfinity shares at 19.317 pence each. The share price was the average closing price over the last 15 days prior to the deal being announced.

Founded in January 2016, RealSport’s platform features original content, including news documentaries, podcasts, analysis and opinions. The company has rapidly built an online user base of more than half a million active monthly users with esports currently accounting for over 40% of all traffic on its website. Gfinity will use the RealSport platform alongside its own to build the esports community.

Under the terms of the acquisition, Gfinity will integrate RealSport’s online real estate into its business operations. Gfinity will also acquire the services of the team of seven key employees including the co-founders, Roei Samuel and Scott Hurst, together with their network of contributors, who have driven the rapid growth in the RealSport digital platform.

Gfinity Chief Executive Officer Neville Upton said, ”RealSport has done a great job of building a “go-to” hub for the esports community. They have a very talented team whose expertise in building a digital community will be very valuable to Gfinity. This deal will further help Gfinity continue to drive awareness and engagement in Gfinity and Elite Series brands. We believe this will accelerate Gfinity’s plans to monetise our digital assets and will greatly increase the value of our proposition to our prospective commercial partners.”

UK, London

Keshet acquires majority stake in Greenbird Media

Keshet InternationalKeshet International, the global production and distribution arm of Israeli media giant Keshet, has acquired a majority stake in UK production company incubator, investor and biz accelerator Greenbird Media. The deal sees Keshet up its share of Greenbird and take over BBC Worldwide’s 30% stake in the company. Further details of the transaction were not disclosed.

Greenbird, a venture from Shine TV executive Jamie Munro and Stuart Mullin from Argonon, was founded in 2012 and provides independent producers with access to innovative funding models and licensing deals to support their creative productions.

KI, known for “Homeland,” “The A Word” and “Rising Star,” will become distribution partner for Greenbird Media’s production companies and boost its roster with more entertainment and factual content, while Greenbird will continue to guide its independent producers in terms of funding and licensing deals for creative productions.

Alon Shtruzman, CEO of Keshet International, said, “Greenbird Media, with its entrepreneurial and creative culture, is the perfect match for us. We share similar philosophies and values, and by combining KI’s global footprint with Greenbird Media’s stellar team, I see limitless possibilities and accelerated growth.”

Israel, Jerusalem & UK, London


Lagardère acquires majority stake in Skyhigh TV

LagardereThe French audiovisual production group Lagardère Studios has taken a majority stake in Dutch TV production company Skyhigh TV. The move follows the acquisition of Boomerang TV in Spain and Aito Media Group in Finland respectively in 2015 and 2017. The terms of the transaction were not disclosed.

Skyhigh was founded in 1999 and specializes in the production and distribution of entertainment, factual and documentary programs. It is owned by its three founding shareholders: Marc Dik, Wilfred Drechsler and Bernard van den Bosch.

The largest indie television producer in the Netherlands, Skyhigh produces 35 series per year, including such successful projects as The Bully Project, Model in One Day and Teen Mom Celebrity Support.

Christophe Thoral, president of Lagardère Studios said, “The Netherlands is the third largest exporter of TV formats in the world. Our acquisition of Skyhigh TV naturally serves to further our strategy for international growth, but it will also accelerate our policy of creating and circulating formats among our various structures”.

France, Boulogne-Billancourt & Netherlands, Hilversum

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Bethesda acquires BattleCry Studios

BethesdaBethesda Softworks has acquired fellow ZeniMax Media subsidiary BattleCry Studios, now branded Bethesda Game Studios Austin. The terms of the transaction were not disclosed.

This growth will mark the second studio expansion since the founding of Bethesda’s in-house game studio in 2001 and the newest addition since Bethesda Game Studios Montreal in late 2015. The Texas-based studio will be led by Studio Director Doug Mellencamp. BattleCry Studios, which was formed in 2012 as a subsidiary of Zenimax Media, is responsible for the shelved free-to-play title of the same name, described as a “multiplayer online action combat game” by former executive producer and president Rich Vogel. The project was suspended in October 2015 in favour of other endeavours, and the studio went on to aid Id Software with post-release content for the multiplayer mode of DOOM.

Mellencamp said, “We’re excited to join Bethesda Game Studios and look forward to working together on some of the industry’s most exciting new games. Austin’s incredible game development scene and talent will also allow us to push our games further than fans have imagined.”

USA, Rockville, MD & Austin, TX

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Euromoney acquires European investment industry survey Extel

EuromoneyEuromoney Institutional Investor PLC, the international business information and events group, has acquired 100% of the business and assets of Extel from WeConvene. Extel will be integrated into Euromoney’s Institutional Investor Research business which is well known for its sell-side analyst and corporate IR performance research and rankings, and strengthens further Institutional Investor’s asset management offering. The terms of the transaction were not disclosed.

Extel runs the annual independent survey of quality across the European equities investment community. The Extel Survey began in 1974 and in 2017 over 15,500 investment professionals cast 1.1 million votes across the investment industry, providing a huge dataset to help clients analyse and drive their market understanding.

The acquisition of Extel fits within Euromoney’s strategy of investing in its main themes, specifically asset management. Extel is deeply embedded in the equities investment community and its complementary data sets and highly valued analytics and insights will support the transition of Institutional Investor to a next generation 3.0 business model.

Will Rowlands-Rees, MD of Institutional Investor Research, said: “Although a small business, Extel has a strong reputation in the European market, and is highly complementary to our existing Institutional Investor Research offerings. By integrating these businesses, we will create a unique bulge bracket through domestic broker view of research product evaluation in the European market at a time of tremendous market change driven by MiFID II. I look forward to leveraging our shared expertise and knowledge, and partners in the investment community to build a stronger and broader set of capabilities across our portfolio of products to help with these challenges.”

UK, London

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Discovery Communications Inc. completes acquisition of Scripps Networks interactive to create Discovery, Inc.

Discovery Communications IncDiscovery Communications has completed its acquisition of Scripps Networks Interactive, with the combined company to be officially known as Discovery, Inc.

Scripps Networks Interactive is a leading developer of lifestyle-content for television and the Internet. The company’s brands includes HGTV, Food Network, Travel Channel, DIY Network, Cooking Channel and country music network Great American Country.

Scripps shareholders will receive approximately $90 per share, consisting of $65.82 per share in cash and 1.0584 per share in Series C Common shares of Discovery stock valued based on a volume weighted average price (subject to elections and proration), in each case in accordance with the terms of the merger agreement. This includes a cash payment of $2.82 per share in connection with Discovery’s previously announced decision to exercise in full the cash top-up option under the merger agreement.

The acquisition is expected to be accretive to adjusted earnings per share and to free cash flow in the first year after closing, including significant cost synergies. The combination is expected to create a strong economic model with capacity for rapid debt repayment and a clear runway for growth and value creation.

Kenneth W. Lowe, former Chairman, President & CEO of Scripps Networks Interactive, will join Discovery’s board of directors, effective immediately.

David Zaslav, President and Chief Executive Officer for Discovery, said, “Today marks another critical milestone for Discovery, as we become a differentiated kind of media company with the most trusted portfolio of family-friendly brands around the globe. As a new global leader in real life entertainment, Discovery will serve loyal and passionate audiences around the world with content that inspires, informs and entertains across every screen; deliver new ways for advertisers and distributors to reach highly targeted audiences at scale; and leverage our leadership position to create new value and growth opportunities for all of our stakeholders.”

USA, Silver Spring, MD & Knoxville, TN

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