Bloomsbury Publishing acquires Zed Books assets

Bloomsbury Publishing Plc (“Bloomsbury”) announces today that it has acquired certain assets of Zed Books Limited, the London-based academic and non-fiction publisher. The consideration was £1.75 million, of which £0.875 million was satisfied in cash on completion and the remainder to be paid within 12 months.

Zed will operate within Bloomsbury’s Academic & Professional division and is expected to contribute approximately £0.8 million of revenue to Bloomsbury in its first year. The Acquisition is expected to break even in its first year, before reorganisation and acquisition costs, then be earnings enhancing thereafter, with improved profit following the integration of the business into Bloomsbury.

The acquired Zed titles are a good strategic fit with Bloomsbury’s existing publishing lists, whilst strengthening its offerings in African Studies and Development Studies. With the combined lists of Zed and I.B. Tauris, Bloomsbury is now a leader in academic Area Studies publishing. The Acquisition also enhances Bloomsbury’s Politics and International Relations list.

Jonathan Glasspool, Managing Director of Bloomsbury’s Academic & Professional Division said, “We are delighted to become the new guardian of the prestigious and progressive Zed list. The Zed programme aligns very well with our existing publishing within I.B. Tauris, and complements Bloomsbury Academic’s publishing across a wide range of humanities and social science subjects. Over 40 years, Zed has built up a unique presence in African and Development Studies, an area we wish to grow. We greatly look forward to working with Zed’s wonderful range of authors and partners.”

UK, London

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Comexposium JV acquires the Indonesia Motorcycle Show (IMOS)

Seven Event, a joint venture platform between Comexposium with Amara Pameran International (API), has acquired the Indonesia Motorcycle Show (IMOS). The terms of the deal were not disclosed.

President Director Seven Event Romi explained that the acquisition is the final step to develop the internationally acclaimed auto show, “GIIAS (GAIKINDO Indonesia International Auto Show) needs to further grow as a brand and become a solid event. The acquisition was the right step to complete the show.” Held since 2015, GIIAS The Series is the biggest automotive exhibition under the management of Seven Event. Its expansion to several Indonesia’s region will allow Seven Event to also expand their portfolio in the automotive based exhibition.

In 2020, Seven Event will hold a total of six exhibitions, covering all sectors of the automotive industry, which include passenger car, commercial vehicle, motorcycle, and the automotive supporting industries. “GIIAS The Series will officially strengthen Seven Event’s footprint as a leading automotive exhibition organizer in Indonesia,” said Romi.

GIIAS 2020 The Series includes GIIAS Surabaya 2020, The 28th GIIAS in Jakarta, GIIAS Makassar 2020 and GIIAS Medan 2020.

France, Paris & Indonesia, Jakarta

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Spackman Entertainment Group acquires Korean film production company Simplex for $2.4M

Spackman Entertainment GroupSpackman Entertainment Group Ltd., one of Korea’s leading entertainment production groups founded by media investor Charles Spackman, has acquired Simplex Films Ltd., an early stage film production firm headed by veteran Korean producer, Lim Ji-young, for approximately $2.4 million. Further terms of the transaction were not disclosed.

Simplex intends to produce top quality films to be theatrically released and distributed in Korea and overseas. Simplex shall first release its films initially in Korea and subsequently in post-theatrical markets such as cable television, broadcast television, IPTV, video-on-demand, and home video/DVD, etc.

Simplex’s upcoming film, JESTERS: THE GAME CHANGERS, a historical comedy film starring Cho Jin-woong of INTIMATE STRANGERS (2018) and THE SPY GONE NORTH (2018) and Son Hyun-joo of ORDINARY PERSON (2017), is expected to be released in August 2019 in Korea. The film, which is currently in the post-production stage, is distributed by Warner Bros. Korea and directed by Kim Joo-ho.

John Ko, Chief Executive Officer of Spackman Entertainment Group said, “Through the acquisition of Simplex, the Group shall be able to expand its film production capacity and look forward to positive contribution from Simplex’s maiden film within this fiscal year.”

South Korea, Seoul

Reed Exhibitions acquires India BIG7 trade event

Reed ExhibitionsReed Exhibitions, a division of RELX, has acquired India BIG7, the annual, Mumbai-based event, India’s largest for gifts, stationery, writing instruments, office supplies, gadgets, houseware, kitchenware and home décor. The terms of the transaction were not disclosed.

Launched in 1993, BIG7 joins a growing portfolio of Reed Exhibitions gift shows in Germany, Japan, Australia and China. The next edition of India BIG7, held in the Bombay Exhibition Centre, will take place 21 – 24 August 2019.

Gregory Zaraisky, CEO of Reed Exhibitions, India, said, “Having known Jivesh Sachdev and his flagship event India BIG7 for more than two years, we have been very impressed by the team’s continuous drive to innovate, keep the event on-trend while focusing on the customers’ needs today and in the future. By joining forces, we can increase customer value and help accelerate the transformation of the industries which urgently need investment, innovation and new technologies.”

UK, London & India, Mumbai

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Meredith sells Fortune magazine to Thai billionaire for $150M

MEREDITH CORPORATION LOGOU.S. media company Meredith Corp is selling Fortune magazine for $150 million in cash to Thai businessman Chatchaval Jiaravanon, the second time the influential business magazine has changed hands this year. Best known for the “Fortune 500” list, the magazine was acquired by Meredith as part of its acquisition of Time Inc in January for $1.84 billion.

Jiaravanon is best known for his affiliation with Charoen Pokphand Group, or C.P. Group, a business conglomerate with stakes in the Thai telecommunications, food, retail and automotive industries.

The Fortune sale is expected to close before the end of the year and it will be a personal holding of Jiaravanon. In a statement, Jiaravanon said he wants to make Fortune “the world’s leading business media brand. The demand for high-quality business information is growing and with further committed investment in technology and brilliant journalism, we believe the outlook for further profitable growth is excellent both for the publication and the events business”.

Alan Murray, who has been editor of Fortune since 2014 and previously served as chief content officer of Time Inc., is becoming president and CEO of Fortune. He wrote on Twitter that he’s “delighted to have found a buyer for Fortune that shares our mission, our independence and will invest to make Fortune grow.”

USA, New York, NY

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UBM acquires 75% stake in ECMI ITE Asia for £2.8M

UBMUBMMG Holdings, a subsidiary of UBM, which recently became part of the Informa Group, has acquired ITE Group’s 75 per cent stake in Malaysia-based ECMI ITE Asia for a cash consideration of MYR 15m (approx. £2.8 million). The sale forms part of ITE’s Transformation and Growth (TAG) strategy.

ECMI runs the Cosmobeauté series of beauty trade exhibitions in Malaysia, Indonesia and Vietnam, and the biennial Lab series of Scientific Instrument and Laboratory Equipment trade exhibitions in Malaysia and Indonesia.

ITE acquired a 50 per cent stake in ECMI in 2013. Under the terms of an existing arrangement with ECMI’s founder shareholders CP Saw and WP Cheong, the organiser acquired an additional 25 per cent stake in ECMI on 18 June 2018, taking its total shareholding to 75 per cent. With the acquisition by UBM, ITE has disposed of its entire 75 per cent holding in ECMI. The proceeds will be reinvested into the Group.

In the year to 30 September 2017 (which excludes the biennial Lab exhibitions), ECMI had gross assets of MYR 13.2 million (£2.5 million), reported a turnover of MYR 9.8 million (£1.8 million) and a loss before tax of MYR 0.4 million (£0.07 million). In ITE’s consolidated financial statements for the same period, ITE recognised a loss of MYR 0.13 million (£0.03 million) in respect of ECMI, presented within ‘share of results of associates and joint ventures’.

Mark Shashoua, CEO of ITE Group, said, “A key element of our TAG Programme is managing our portfolio of events, and this transaction marks a further step in delivering this strategy. We are pleased to have found a supportive Malaysia-based partner for ECMI’s events which can ensure the investment required for ECMI’s continued success.”

UK, London & Malaysia, Selangor

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Keywords Studios acquires AI and machine learning firm Yokozuna Data

keywordsKeywords Studios is purchasing Yokozuna Data, a developer of artificial intelligence and machine learning technologies, from Silicon Studio Corporation for US$1.5mln in cash, which includes all associated technology rights and trademarks.

Yokozuna’s technologies, which include a range of self-learning, predictive analytic models drawing on AI and machine learning tech, are designed to predict the behaviour of individual video game players and adapt themselves to changes made in the game. The models are also used to determine the likelihood of players abandoning the game and their propensity to buy items in the game. The firm also offers a management framework which allows game companies to adjust key parameters, record and view results, and to monitor key performance metrics of their games in live operation.

As part of the agreement, Keywords will collaborate with Yokozuna’s previous owner Silicon to introduce the technologies developed by the company to Japanese game developers and publishers, while also retaining the non-exclusive right to resell Yokozuna’s solutions to non-game markets (such as healthcare) in exchange for a share of associated revenues.

Andrew Day, Keywords’ chief executive, said that the company had been looking to “establish a foothold in…video game analytics for a few years”, and that while Yokozuna was pre-revenue, it was a “rare asset” with clients expected to start implementing the software in 2018. He added that as video games continued to transition to a service model from a product model, “the use of sophisticated analytics engines like this to automatically understand player behaviour and trigger real time decisions in-game will become increasingly valuable”, and that the use of AI to adapt predictive models in games based on in-game changes was “critical to the future of the video games industry”.

Ireland, Dublin & Japan, Tokyo

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