Future plc has acquired MoNa Mobile Nations, LLC. Mobile Nations is a US digital publisher. Its websites and apps focus on consumer electronics and help consumers to make smart choices. Mobile Nations key brands include Android Central, iMore, Windows Central and Thrifter.
Future are making an initial cash payment of $55 million, plus $5 million through the issue to the vendors of 615,166 new shares. A deferred payment of up to $60 million is payable subject to achieving financial targets based on the year ending 31 March 2020. The deferred consideration is to be split equally between cash and the issuance of new shares in Future. The total maximum consideration will be $120 million.
Mobile Nations achieved revenue of $16.4 million and EBITDA of $8.2 million in year ended 31 December 2018. Organic revenue growth was 31% and EBITDA growth 52% yoy.
Zillah Byng-Thorne, CEO of Future, said, “This acquisition will further strengthen our market leading position in technology and extend our growing presence in the US. Mobile Nations’ consumer electronics brands, which combine content, community and commerce to deliver shopping enablement solutions, are highly complementary to our existing portfolio. We already have an established commercial relationship with Mobile Nations through its longstanding partnership with Purch, which we acquired in September 2018. The addition of Mobile Nations’ brands will deepen our presence and expand our opportunities to monetise our significant US online audience.”
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