Permira acquires Ancestry.com for $1.6 billion

November 14, 2012 — Fusion DigiNet

According to the Wall Streert Journal, European private-equity firm Permira is buying genealogy website Ancestry.com for $1.6 billion.

Ancestry.com has more than two million subscribers who pay at least $12.95 a month for its content and online tools. The purchase price is $32 a share and it includes vesting of outstanding options. The price is a 40 percent premium from the price when word of the company being offered for sale surfaced in June. As a result of the deal, Ancestry.com will carry  ”just under $1 billion” in debt.

The buyout group includes the private-equity firm’s co-investors; members of Ancestry.com’s management, including Chief Executive Tim Sullivan and Chief Financial Officer Howard Hochhauser; and Spectrum Equity, which owns about 30 percent of Ancestry.com.

USA, Utah & UK, London

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j2 Global Acquires Ziff Davis, Inc.

November 13, 2012 — Fusion DigiNet

j2 Global, Inc., the provider of business cloud services, has acquired Ziff Davis, Inc. Ziff Davis sites include PCMag.com, ComputerShopper, ExtremeTech, Geek.com, Toolbox.com and LogicBUY.com.

The purchase price was approximately $167 million, net of certain post-closing adjustments, and was funded out of j2’s cash on hand. The transaction is anticipated to be immediately accretive and to contribute approximately $60 million to 2013 revenues. After giving effect to this transaction, j2 has over $300 million in cash and investments.

“We have years of experience and significant interest in the digital media and online marketing space, both as a large scale consumer of advertising (~$50M per year) and as a seller of advertising on our ad supported properties (e.g. eFax Free) and a provider of marketing and advertising services through Campaigner®,” said Hemi Zucker, j2’s chief executive officer. “This acquisition brings scale to this effort with a top leadership team deeply committed to building the business through organic growth, which we expect to continue. This is our 40th acquisition and we plan to grow the business in the same way we have our others – through a combination of internal growth and acquisitions.”

As a result of this transaction, j2 anticipates that its revenues for 2012 will exceed the top end of its previous estimate of between $345 million and $365 million. In addition, j2 reaffirms that its 2012 non-GAAP earnings per diluted share will exceed that of 2011.

USA, Los Angeles, CA

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A Fusion Deal: Platts completes the acquisition of Kingsman,

November 5, 2012 — Fusion DigiNet

Fusion Corporate Partners are pleased to announce the completion of the acquisition of Kingsman SA by Platts. Fusion acted exclusively for the shareholders of Kingsman SA. The team responsible for this transaction was Paul Slight and Paul Kelly.

The acquisition, whose purchase price was not disclosed, was originally announced on Fusion DigiNet on October 16.

Platts, a leading global provider of energy, petrochemical and metals information and a division of The McGraw-Hill Companies, Inc. has completed its acquisition of Kingsman SA, a privately-held, Switzerland-based provider of price information and analytics for the global sugar and biofuels markets.

“The acquisition of Kingsman broadens Platts’ capabilities in biofuels, provides an entry to the agriculture markets, and adds widely respected skills in fundamental market analysis,” said Harold McGraw III, chairman, president and chief executive officer for The McGraw-Hill Companies.

A leading information provider for the sugar markets, Kingsman offers a range of daily, weekly and monthly reports covering ethanol and biodiesel as well as sugar. As a unit of Platts’ new agricultural group, Kingsman will continue to offer its existing product portfolio under the Kingsman brand and under the day-to-day leadership of its founder Jonathan Kingsman

Founded in 1990 and based in Lausanne, Kingsman employs analysts, researchers and report writers in key markets including Bangkok, London, Montreal, New Delhi and Sao Paulo. It serves a global clientele of producers, traders, refiners, financial institutions and end-users, offering a variety of subscription publications covering sugar, ethanol and biodiesel.

“Kingsman’s prime focus on market analysis, supply and demand fundamentals and trade flows complements Platts’ long-standing expertise in reporting news, assessing prices and explaining the factors driving those prices,” said Larry Neal, president of Platts.

USA, New York, NY & Switzerland, Lusanne

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OTHER FUSION DEALS:

Media and Information

Business Services
Events, Broadcast and Other deals
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UBM acquires outstanding 50% stake of Canada Newswire for £30.1m

November 1, 2012 — Fusion DigiNet

UBM company PR Newswire has acquired the outstanding 50% share in its Canada Newswire (CNW) business from the PA Group Limited (PA Group) for a cash consideration of £30.1m. Following the transaction, UBM will retain its 17% interest in the PA Group.

Established in 1960, CNW is the leading newswire provider in Canada, distributing approximately 90,000 wire releases per year. It is also the country’s largest investor relations webcast provider and a leading regulatory filing agent. In 2011 CNW generated revenues of £30.8m.

UBM has fully consolidated CNW’s results reflecting its direct and indirect ownership of 58.5%. The acquisition will not directly affect reported consolidated revenue or operating income. The transaction will eliminate the non-controlling interest in CNW profit which in 2011 was £2.3m.

Full ownership will enable PR Newswire to implement an aligned commercial, product development and infrastructure strategy across its North American business. Alignment is expected to result in incremental revenues in Canada by providing customers with access to PR Newswire’s full range of product offerings and by enabling the two organisations to work together in accelerating the trend towards higher engagement products. Cost savings from the integration of the businesses and technology platform are expected to be broadly offset by restructuring costs in the balance of 2012 and 2013. The return on this investment is expected to exceed UBM’s cost of capital in 2013 and subsequent years.

UK, London & Canada, Montreal and Quebec City

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Disney to acquire Lucasfilm Ltd

October 31, 2012 — Fusion DigiNet

The Walt Disney Company is acquiring Star Wars film maker Lucasfilm Ltd. in a stock and cash transaction. Lucasfilm is 100% owned by Lucasfilm Chairman and Founder, George Lucas.

Under the terms of the agreement and based on the closing price of Disney stock on October 26, 2012, the transaction value is $4.05 billion, with Disney paying approximately half of the consideration in cash and issuing approximately 40 million shares at closing. The final consideration will be subject to customary post-closing balance sheet adjustments.

“Lucasfilm reflects the extraordinary passion, vision, and storytelling of its founder, George Lucas,” said Robert A. Iger, Chairman and Chief Executive Officer of The Walt Disney Company. “This transaction combines a world-class portfolio of content including Star Wars, one of the greatest family entertainment franchises of all time, with Disney’s unique and unparalleled creativity across multiple platforms, businesses, and markets to generate sustained growth and drive significant long-term value.”

Kathleen Kennedy, current Co-Chairman of Lucasfilm, will become President of Lucasfilm, reporting to Walt Disney Studios Chairman Alan Horn. Additionally she will serve as the brand manager for Star Wars. Ms. Kennedy will serve as executive producer on new Star Wars feature films, with George Lucas serving as creative consultant. Star Wars Episode 7 is targeted for release in 2015, with more feature films expected follow. Star Wars feature films have earned a total of $4.4 billion in global box office to date

USA, Burbank, CA & San Francisco, CA

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A FUSION DEAL: CRU Group acquires Fertecon Research Centre

October 28, 2012 — Fusion DigiNet

Fusion Corporate Partners are pleased to announce our latest deal. Fertecon Research Centre, the phosphates and sulphur analysis and price-forecasting business, has been sold CRU Group. Paul Kelly, Director at Fusion, acted exclusively for the vendors. The FRC team and product range will join CRU’s long-established fertilizer analysis and consultancy operation. The terms of the deal are not being disclosed.

Michael Mew and Ian Service, the two owners of Fertecon Research Centre, will continue to work on the FRC products. Sarah Marlow, FRC’s phosphates analyst, will also be joining CRU’s fertilizer team, working across CRU’s expanded phosphates portfolio.

FRC was founded in 1991 and has a reputation for the strength and consistency of its analysis, and the loyalty of its customers. In the phosphates field, FRC publishes quarterly forecasting analysis reports on concentrated phosphates and phosphate rock, as well as the Phosphates Datafile and a monthly report on the global DAP market.

FRC also publishes a quarterly forecasting and analysis report on sulphur, along with a monthly market update. The next FRC product to be published post-acquisition will be the phosphate rock outlook, out this month.

The FRC acquisition strengthens and extends CRU’s existing portfolio of fertilizer analysis. CRU publishes its Phosphate Fertilizer and Phosphate Rock Market Outlooks, accompanied by cost reports covering finished phosphates and phosphate rock, as well as Market Outlooks for Sulphur and Sulphuric Acid. This year CRU has invested in developing the methodologies and format of its portfolio of Market Outlooks, increasing their value, robustness and ease-of-use for customers.

Nick Morgan, Chief Executive of CRU, said: “We saw in FRC strong products built on a foundation of long years in the industry. We see major value in the experience and reputation of the three analysts who join us and who between them have spent more than 90 years in these markets. We are very pleased to welcome them to CRU.”

Both Michael Mew and Ian Service welcomed the acquisition, saying: “This is an exciting development, bringing together two of the most experienced companies in the fertilizer industry analysis sector.  FRC subscribers in the sulphur and phosphate industries will benefit from the additional resources that will become available, not least CRU’s established consulting group, CRU Strategies, its world-wide network of offices and its widely acclaimed phosphate and sulphur conferences.”

Previous CRU acquisitions:

1986 – British Sulphur Consultants
1996 – Resource Strategies Inc
2006 – Commodity Metals Management Company
2012 – Ryan’s Notes

UK, London

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OTHER FUSION DEALS:

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About CRU: Founded in 1969, CRU Group is the leading, independent, global metals, mining and fertilizer analysis, consultancy and conference business.  Employing more than 225 staff in London, Beijing, Pittsburgh, Santiago and Mumbai and with representative offices in Sydney and Sao Paolo, CRU is dedicated to promoting quality analysis and insight to its global customer base.

About FRC: Fertecon Research Centre was formed in 1991 and since then has provided analysis and price forecasting in the sulphur and phosphates field.  Between them owners Michael Mew and Ian Service have 76 years of experience.

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The Carlyle Group completes its acquisition of Getty Images for around $3.3 billion.

October 26, 2012 — Fusion DigiNet

The Carlyle Group has completed its acquisition of Getty Images in a transaction valued at approximately $3.3 billion.

With the completion of the transaction, The Carlyle Group has acquired a controlling stake in Getty Images. Getty Images Co-Founder and Chairman Mark Getty and the Getty family have rolled substantially all of their ownership interests into the acquisition. Getty Images management, including Co-Founder and Chief Executive Officer Jonathan Klein, has invested significant equity in the company.

“We are pleased to announce the completion of this transaction in partnership with The Carlyle Group,” said Jonathan Klein, Co-Founder and Chief Executive Officer of Getty Images. “The Carlyle Group’s global resources and network will be a great help to us as we move Getty Images forward into the next phase of our development and growth.”

Eliot Merrill, Managing Director of The Carlyle Group, said, “In the last seventeen years, Getty Images has established itself as a leading digital media company and a business steeped in innovation. We look forward to partnering with Getty Images’ experienced and talented management team in expanding the company’s global footprint.”

Carlyle Partners V, L.P. a $13.7 billion U.S. buyout fund, provided equity financing for the investment. J.P. Morgan, Barclays, Credit Suisse, Goldman, Sachs & Co, HSBC, Nomura and RBC Capital Markets provided debt financing for the transaction.

USA, Washington, DC & Seattle, WA

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Yelp Acquires Qype

October 26, 2012 — Fusion DigiNet

Yelp Inc. has acquired Qype, Europe’s largest local reviews site, for approximately €18.6 million and 970,000 shares of Yelp’s Class A common stock, for a total purchase price of approximately $50 million USD. Qype is headquartered in Germany, with operations also in the United Kingdom. The acquisition will be recorded in Yelp’s fourth quarter and 2012 year-end financial statements.

“I am excited to welcome Qype’s employees and users to Yelp. We have built a solid foundation in Europe and this acquisition should significantly increase our international presence. With its strong local content in key markets like Germany and the United Kingdom, we believe that Qype will help Yelp become the de facto choice for local search in those markets,” said Jeremy Stoppelman, Yelp co-founder and chief executive officer. “Qype’s established European sales force will also bring more local business owners into the Yelp ecosystem, which in turn will bolster our mission to connect people with great local businesses all over the world.”

Yelp has also reported preliminary financial results for the third quarter ended September 30, 2012. Revenue for the third quarter 2012 is expected to be approximately $36.4 million, net loss for the quarter 2012 is expected to be approximately $2.0 million, and Adjusted EBITDA is expected to be approximately $2.2 million. Yelp will announce additional financial results for the third quarter on Thursday, November 1, 2012, and at that time will provide fourth quarter 2012 guidance and updated full year guidance.

USA, San Francisco, CA & Germany, Hamburg

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USA, San Francisco, CA

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Sale of PriceGrabber and North America online lead generation activities for up to $110M

October 26, 2012 — Fusion DigiNet

Experian has completed the sale of its price comparison shopping business (PriceGrabber) and its North America online lead generation activities (LowerMyBills and ClassesUSA) to the management team of those businesses.

The gross consideration is $80 million, consisting of US$2m cash at closing and a US$78m loan note. In addition further consideration is available to Experian if defined profit targets are achieved over time and in certain other circumstances, up to a fully inclusive total of US$110m. In respect of the transaction, Experian expects to realise cash tax relief of approximately US$120m over the next two years.

Last month a $175m deal with Ybrant Digital, a marketing company based in Hyderabad, to buy PriceGrabber and LowerMyBills fell through.

Don Robert, Chief Executive of Experian said:

“Over the past four years, we have focused our strategy on extending our global lead in credit information and analytics, digital marketing services and consumer services. As part of that process, we designated PriceGrabber and the lead generation activities as non-core operations, believing that they would be best developed by an independent owner. We thank all our friends and colleagues at these businesses for their support over the years and wish them every future success.”

For the year ended 31 March 2012, revenues for the businesses sold were US$283m and EBIT was US$20m.

UK, London & USA, Los Angeles, CA

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NewsCred acquires Daylife

October 18, 2012 — Fusion DigiNet

NewsCred, the content marketing and syndication platform, has acquired Daylife, a producer of cloud-publishing tools. NewsCred will continue to invest in, support and enhance the current Daylife cloud publishing products under the NewsCred brand. Terms of the deal were not disclosed.

Shafqat Islam, Chief Executive Office of NewsCred said, “Daylife has long been a pioneer and has led the market with their innovative tools. Their customers rave about the quality of their technology products, and the resulting gains in engagement and operating efficiencies. They were early innovators in the content technology space, so it’s exciting that we can join forces and cement NewsCred’s place as the leading content marketing and syndication platform.  The combination of our licensed content, with Daylife’s cutting-edge tools, enables us to provide even more value to existing clients as they engage and grow their audiences with unique, fully-integrated, on-demand content experiences. We are also excited to deepen our relationship with Getty Images through this acquisition.

All Daylife employees are expected to transfer to NewsCred.

USA, New York, NY

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