DMGT has sold Wowcher, dmg media’s daily deals business, to a newly formed company which will be controlled by Exponent Private Equity but in which DMGT has a 30 per cent stake.
DMGT’s net proceeds from the disposal of Wowcher and the investment in the new company are £29 million.
The company is also acquiring the UK and Ireland operations of LivingSocial, a complementary business that is approximately half the size of Wowcher, and expects to realise synergies from the combined operations and databases.
In the year to 30 September 2015, Wowcher generated £30 million of revenues and achieved its first full year of operating profits.
UK, London
Related articles:
- BBC Worldwide agrees to sell magazines to Exponent August 16, 2011
- DMGT acquires DIIG EUROPE for £75M Posted on October 28, 2013
- DMGT pre-close trading update Posted on September 25, 2013
- DMGT Half Year Preliminary Results Posted on May 23, 2013
- DMGT annual report and M&A update Posted on January 10, 2013
- DMGT has completed its disposal of Northcliffe Media to Local World Posted on January 7, 2013
- Local World to acquire the regional publishing assets of Northcliffe and Iliffe Posted on November 21, 2012
- DMGT sells remaining interest in DMG Radio Australia Posted on September 5, 2012
- DMGT – Q3 results Posted on July 26, 2012
- Acquisition of Xceligentby DMGT Posted on April 27, 2012
- DMGT – trading update for the six-month period to the end of March 2012 Posted on April 17, 2012
- OFT clears the merger between the Digital Property Group and Zoopla Posted onApril 16, 2012
- DMGTacquires Jobrapido Posted on April 16, 2012
- FindaProperty, Primelocation and Zoopla to merge to take on Rightmove Posted onNovember 7, 2011
- DMGT sells GLM to Providence Equity Partners Posted on October 4, 2011
- DMGT trading update September 2011 Posted on September 28, 2011
- DMGT to sell GLM, the United States’ largest privately-held tradeshow management company Posted on June 10, 2011
- DMGT in “informal” talks to buy Express Newspapers Posted on April 4, 2011
- Could DMGT sell Northcliffe? Posted on November 28, 2010
- DMGT back on the acquisition trail? Posted on November 25, 2010
Fusion Corporate Partners 
You must be logged in to post a comment.