DMGT sells Wowcher

wowcherDMGT 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: