Keywords Studios acquires Spov 

keywordsKeywords Studios, a technical services provider to the video games industry, has acquired Spov Ltd. for up to £1.2 million in cash from its founder, Allen Leitch. Based in London, UK, Spov provides creative development, cinematics, UI, visual effects and motion graphics services to the video game and film markets. ()

Founded in 2007 by Allen Leitch, Spov maintains a small team of creatives in London and manages a network of experienced designers, animators, film makers and artists to produce intricate footage for use in video games, film and TV. The company has worked on titles that include Mission Impossible: Rogue Nation, Watch Dogs, The Division, Call of Duty: Advanced Warfare; Batman: Arkham Knight and Marvel’s Doctor Strange.

 Fred Stockton, Global Art Service Line Director, Keywords Studios commented: “We are thrilled to have Allen and the Spov team of talented creative professionals join the Art Service Line at Keywords Studios.  Their skills and experience will enhance our ability to provide a broader range of services to our clients.  Likewise, we look forward to meeting with Spov clients to share with them the full spectrum of capabilities that Keywords Studios has to offer.  This acquisition will strengthen our market position as a leading provider of digital art services and will contribute to our continuing growth in this area.”

Ireland, Dublin & UK, London

Related articles:

Ascential plc acquires MediaLink for up to $207M

ascentialAscential plc the B2B media company, is to acquire US-based media advisory and business services provider MediaLink for an initial cash price of $69 million plus earnouts.

The earnouts are payable over the period to February 2021 based on the adjusted EBITDA of the business for the three years 2017 to 2019 and are expected to total between $42m and $62m. The earnouts are payable in cash or, for certain elements, shares at Ascential’s option and a portion of the earn-out payments is subject to founders remaining in employment with the company. The total aggregate consideration, including initial consideration and earn out payments, is capped at $207m and requires stretching profit targets to be reached.

MediaLink reported unaudited revenue of $54 million and adjusted PBT of $14 million in 2016, with year-on-year growth of 29% and 24% respectively, and had gross assets of $11 million at December 2016.

The company serves the consumer goods and services segment and operates from four offices in the U.S. Michael Kassan founded Medialink in 2003, he will continue to run the business.

Duncan Painter, Chief Executive Officer of Ascential plc, said: “MediaLink is a leader in its industry, with a strong and very visible brand presence in the US. MediaLink is an excellent fit with our existing Ascential offering and I am confident we can help accelerate MediaLink’s business into new markets by using our assets and infrastructure over the coming months and years. I see synergies between MediaLink and our portfolio of products to significantly help accelerate our existing businesses and create additional value for shareholders.”

UK, London & USA, New York, NY

Related articles:

Homeserve acquires 40% of Checkatrade and 70% of Habitissimo for a combined £37M

homeserveHomeServe plc, the home repair and improvements business, has acquired shareholdings in Checkatrade in the UK and Habitissimo in Spain, two separate businesses that provide access to high quality tradespeople performing home repairs and improvements via online platforms.

Checkatrade, based in Selsey, is a UK online directory of customer recommended tradespeople with nearly 1m unique customer visits a month, resulting in approximately 1.3m jobs per annum.  HomeServe has acquired a 40 per cent interest in the business with an option to increase its position by a further 35 per cent in two years.

Habitissimo is an international online business that provides support for home improvements and repairs, connecting homeowners to trusted local tradespeople.  Based in Mallorca (Spain), Habitissimo receives over 3.6 million unique customer visits a month, resulting in approximately 0.25m jobs per annum across nine countries in Europe (Spain, Portugal, Italy and France) and Latin America (Brazil, Mexico, Argentina, Chile and Colombia).  HomeServe has acquired a 70 per cent interest in the business with an option to increase its position by a further 30 per cent in either four or five years’ time.

The combined consideration for these two acquisitions was £37 million.

Richard Harpin, Chief Executive, HomeServe plc, commented: “Our investments in Checkatrade and Habitissimo underline HomeServe’s ambition to be at the forefront of the technological revolution as the world’s most trusted provider of home repairs and improvements.  Both of these businesses provide innovative digital platforms, connecting customers to reliable tradespeople.  With leading positions in the home repair and improvements market, these businesses will broaden HomeServe’s reach enabling us to meet the needs of younger, non-insurance minded customers who are looking to find immediate help from a wide range of home trades.

UK, Walsall, West Midlands & UK, Selsey, West Sussex & Spain, Palma De Mallorca, Islas Baleares

 

Zoopla acquires Hometrack for £12M


zooplapropertyZoopla Property Group Plc is to acquire Hometrack.co.uk Limited, the UK provider of residential property market insights and analytics, for £120 million.

Established in 1999, Hometrack provides residential property market insights, analytics, valuations and data services to around 400 mortgage lenders, new home developers, investors, housing associations and local authorities. 

The total consideration is £120 million on a cash-free, debt-free basis with £108 million due on completion and £6 million payable on each of the first and second anniversary following completion. Hometrack has a CAGR of c.15% from FhometrackY13-FY16 and generated revenues of £15.5 million and adjusted EBITDA of £7.1 million in the year to 30 June 2016. The consideration represents a 14.7x multiple based on LTM to Dec-16 adjusted EBITDA for Hometrack. The value of Hometrack’s gross assets was £13.1 million as at 30 June 2016.

The acquisition will be financed through a combination of existing cash resources, a new £75 million term loan and an equity placing of up to 5% of Zoopla’s ordinary issued share capital.

Alex Chesterman, Founder & CEO of Zoopla commented, “We are delighted to announce the acquisition of Hometrack, the clear market leader in AVM services in the UK and a leading player in Australia. The deal will allow us to serve our consumers and partners even more effectively and gives us unrivalled data capabilities in the residential property market. Hometrack is a perfect fit to develop our data services business and I look forward to welcoming Charlie and his team to the ZPG (Zoopla) family.”

Hometrack provides its products to 15 of the top 20 mortgage lenders in the UK as well as all 4 leading Aushometracktralian mortgage lenders and its UK automated valuation model is recognised by all the major ratings agencies. Over 70% of Hometrack’s revenues are subscription-based and underpinned by long-term relationships.

Hometrack has 55 staff operating out of offices in London and Sydney. Following completion, Hometrack will continue to operate as a standalone brand and platform with the team forming the cornerstone of Zoopla’s data services business, which will be headed up by Charlie Bryant, CEO of Hometrack.

UK, London

Related articles:

Wilmington acquire Health Service Journal from Ascential for £19M

hsjWilmington plc has acquired the Health Service Journal, a health information, insight and networking business, from Ascential plc for £19m with an adjustment for working capital, payable on completion.

The acquisition is expected to complete on 31 January 2017. HSJ will sit within Wilmington’s Insight division, aligned with Wilmington Healthcare.

HSJ revenue for the 12 months ended 31 December 2016 was £10m with pro-forma contribution before Group overheads of £4.4m. Recurring revenue from subscriptions and annual events represents around 70% of total revenue. HSJ’s gross assets at 30 June 2016 were £12.8m including intangible assets. 

The management team, led by Andy Baker and Alastair McLellan, will remain with the business and are included within the circa 60 employees transferring across to Wilmington. 

HSJ’s key products are:

  • HSJ.co.uk: A UK source of proprietary content, insight, comment and analysis on the UK healthcare sector. HSJ Online has approximately 17,000 users and is sold on an individual and corporate subscription basis. 
  • HSJ Intelligence: a digital data subscription product with approximately 20,000 data points, which was launched in 2014. It has 115 enterprise customers from across the healthcare industry.  
  • HSJ Events: 11 annual networking events including awards, large scale conferences and summits and the Health Service Journal Awards event. 
  • HSJ Marketing Services: targeted marketing solutions for the healthcare industry and a legacy digital recruitment offering.

Commenting on the acquisition Pedro Ros, Chief Executive of Wilmington plc, said: 

“I am pleased to be announcing this acquisition of Health Service Journal, which represents an exciting opportunity for Wilmington to acquire a brand of exceptional status in the UK Healthcare market, a primary source of critical information and insight to senior management and decision-makers in the NHS and wider healthcare sector.

UK, London

Related articles:

Bowmark and Five Arrows sell Autodata

Rod Williams, Autodata’s chief executive, commented: “With the support of Bowmark and Five Arrows, we have achieved significant growth over the past two and a half years, driven by new product innovation, investment in people and expanding our footprint in our core markets. Our products and services represent an excellent fit with those of Solera, and we are excited at the new opportunities which being part of the Solera group will bring – to Autodata, its customers and its employees.”

Bowmark partner, Julian Masters, said: “Since 2014, Bowmark and Five Arrows have worked closely with Autodata to enhance its product offering and accelerate its growth. The company is well-positioned to continue its success under its new owner.”

UK, London & Maidenhead, Kent

Related Articles:

Pageant Media acquires Hedge Fund Intelligence from Euromoney

pageant-mediaPageant Media, the business information specialist has acquired Hedge Fund Intelligence from Euromoney Institutional Investor. The terms of the deal were not disclosed. Hedge Fund Intelligence provides a series of business information, data and workflow products – including EuroHedge and AsiaHedge – and global events, which provide a 360-degree view of the hedge fund world.

Pageant Media is one of the financial sector’s fastest growing providers of intelligence and insight. The company, founded in 1998, provides membership services offering senior professionals – across a range of industries, including hedge funds, mutual funds and real estate – exposure to market leading news and analysis, data and events.

This acquisition provides Pageant Media with a series of synergies and brand extension opportunities for its existing market-leading hedge fund brand, HFM, and will increase the company’s scale and reach in the global hedge fund space.

Commenting on today’s announcement, Charlie Kerr, Chief Executive of Pageant Media, said: “This latest deal will enable to Pageant Media significantly to enhance its business information offering to the hedge fund industry. As with the recent acquisition of II Searches, we look forward to integrating these brands into our business and evolving their digital offering. These products will also benefit from Pageant’s belief in strong content, user engagement and creating a membership model that delivers real value.”

Staff from both the UK and US will join Pageant Media’s London and New York offices.

UK, London & USA, New York

Related articles: