Independent business media specialist Intent Media is to acquire the UK entertainment and technology product portfolio of UBM plc for a total cash consideration of £2.4m.
Intent specialises in entertainment, technology and leisure markets. Its portfolio already consists of over a dozen market leading online, print and event brands across video games, music, computing, mobile, toys, licensing and cycling.
The titles being acquired include Television Broadcast Europe, Music Week, Pro Sound News Europe and Installation Europe, plus additional websites, newsletters, conferences, show dailies and awards events. Last year this portfolio generated £5.4m of revenue.
Intent Media is headquartered in Hertford, England but is opening an additional office in Islington Green, London, this summer. Up to 36 staff will transfer on completion of the deal and total staff count will rise to around 90, with projected combined revenues of over £10 million for the financial year ending September 30th 2012.
“This is a significant move for Intent, essentially doubling the size of the company. We are heading into markets that fit our current landscape, whilst also continuing our policy of holding a leadership position wherever we operate. The brands we are taking over are well established, with experienced staff and impressive heritage,” said Intent Media managing director Stuart Dinsey.
“Intent has become the UK’s leading business media player in entertainment and technology. We are very excited to have added these new brands. Our policy of investment in online and events will continue, whilst ensuring longevity where possible for the core print titles.”
UBM is selling the portfolio on behalf of its UBM Connect division. The transaction is expected to complete in the next six weeks, subject to the conclusion of a TUPE consultation process.
“I am pleased we will pass stewardship of these well-established entertainment and technology titles to Intent Media, which focuses on serving specialist entertainment, technology and leisure markets,” said UBM Connect CEO Adrian Barrick.
Existing core Intent Media brands include MCV: The Market for Computer & Video Games, Develop, ToyNews, Mobile Entertainment, Bikebiz, PCR, Musical Instrument Professional, Audio Professional International and Licensing.biz.
Events run by Intent include The London Games Conference, MI Retail Conference & Expo, Monetising Mobile Conference and sundry trade awards.
Intent Media’s previous acquisitions:
- MCV launched in September 1998 (when we were MCV Media Limited)
- Develop acquired November 2000
- ToyNews acquired June 2001
- Management buy-out from German listed outfit Computec (and became Intent Media) March 2002
- CTW acquired (from Highbury) and incorporated into MCV March 2002
- CTO acquired (from Trinity Mirror) and incorporated into PCR 2006
- BikeBiz acquired in February 2006
- MI Pro acquired in March 2006
- Audio Pro International acquired in March 2006
- Music Trade News accquired (and incorporated into MI Pro) July 2008
- All assets of Skep Media acquired January 2009
- All assets of Prestige Media acquired January 2009
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