Pageant Media acquires asset management business information brands from Euromoney

December 1, 2016 — Fusion DigiNet

pageant-mediaPageant Media has acquired iiSearches; Foundation & Endowment Intelligence and Money Management Intelligence from Euromoney Institutional Investor. The terms of the deal were not disclosed. Foundation & Endowment Intelligence and Money Management Intelligence are information services which provide critical insight for asset managers who need to understand current investor activity.

Pageant Media, 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 complements the growth of Pageant Media’s existing business intelligence networks by providing information on active investor searches across hedge funds, mutual funds and real estate. The addition of II Searches, a database product currently relied on by eight of the top ten asset managers in the world by AuM, further extends Pageant Media’s reach into key data services and workflow products.

Commenting on today’s announcement Charlie Kerr, CEO of Pageant Media, said: “This acquisition marks a significant step in the development of Pageant Media’s asset management business information services. We look forward to integrating these brands into our business and evolving their digital offering. These products will benefit from Pageant’s belief in strong content, user engagement and creating a membership model that delivers real value.”

II Searches; Foundation & Endowment Intelligence and Money Management Intelligence have been sold to Pageant Media by Euromoney Institutional Investor. Staff from both the UK and US will join Pageant Media’s London and New York offices.

UK, London & USA, New, York

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Prospects Education Services acquires Optimus Professional Publishing for £1.5M

November 3, 2016 — Fusion DigiNet

prospects-edProspects Education Services Limited has acquired Optimus Professional Publishing Limited  from Electric Word plc. for £1,512,501 in cash. A cash balance of £613,113 was left in the business.  Both the consideration and cash left in the business are subject to adjustment through a completion accounts process at a later date. Optimus provides live events and online training for leaders in UK schools to support staff development and school improvement.

In the year ended 30 November 2015, Optimus made a loss before tax of £1,019,649 (which includes  a charge of £725,588 towards Company central overheads, and a management charge to the Company of £177,500) on turnover of £2,908,112. The value of the gross assets of Optimus at 30 November 2015 was £2,306,398.

Optimus Education was founded in 1997 to help primary and secondary school leadership teams manage staff development efficiently and effectively, stay compliant and drive whole school improvement through a variety of conferences, events and training resources.

Andrew Thraves, Director of Education for Prospects, says: “I am delighted that we have acquired Optimus Education. I’m equally pleased that Optimus Education has chosen us as their new home.”

Andrew added: “Together we’ll be in a great position to provide schools and multi-academy trusts an even more comprehensive ‘one-stop-shop’ offer. The government talks about the importance of a school-led system as central to raising standards. By joining forces we will offer school awards and curriculum resources, in-school consultancy and training, and high-profile conferences and events for teachers and senior leaders intended to identify, showcase and help embed good practice and ‘what works’. Acquiring Optimus Education enables Prospects to provide education providers with the complete package.”

UK, London

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Electric Word acquires iGaming North America conference Posted on November 8, 2013

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Time Out Group acquires YPlan

October 21, 2016 — Fusion DigiNet

Time Out Group plc has acquired Leanworks Limited (YPlan). London-based YPlan is the “mobile-first” events discovery and booking platform. It offers a mix of event tickets on its app and website allowing people to discover and book things to do in the city. Combined with Time Out’s curated content, this addition will enable the Company’s monthly global audience of 137 million to discover, book and share what the world’s cities have to offer.

Since its foundation in 2012, YPlan has invested heavily in the development of an award-winning e-commerce platform and associated software for the events industry as well as in customer acquisition marketing. As a result, in the year to 31 December 2015, being its last full financial year, YPlan generated a pre-tax loss of £6.2m. Subsequent reductions in its cost base have materially reduced losses in the current year.  Consequently, the transaction is expected to be mildly dilutive to Time Out’s earnings in the current financial year and broadly neutral in 2017.

Julio Bruno, CEO of Time Out Group plc, commented: “Developing e-commerce and monetising our audience is an important element of our ambitious growth strategy. We acquired YPlan because its advanced technology will significantly accelerate this strategy. It will enable us to offer our large audience more online booking opportunities, whilst improving the user experience.”

The consideration will be payable in Time Out ordinary shares. 1,166,644 shares will be issued and payable on completion with a value of £1.6 million based on a share price of £1.393. A deferred issue of ordinary shares with a value of up to £0.8 million is also payable 12 months after completion subject to no warranty claims being made.

UK, London

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Ascentual acquires One Click Retail

September 25, 2016 — Fusion DigiNet

ascentialAscential plc, the  business-to-business media company has acquired US-based e-commerce analytics provider Oneclickretail.com LLC for an initial cash consideration of $44 million plus future earn outs.  

Future earn outs, based on multiples of adjusted EBITDA, are payable in the four years 2016 to 2019  in cash or, for certain elements, shares at Ascential’s option.  A portion of the earn-out payments is also subject to founders remaining in employment with the company.  The total aggregate consideration, including initial consideration and earn out payments, is capped at $225 million in the event that stretching profit targets are reached. The transaction is expected to complete on 31 August 2016.

one-clickOne Click Retail provides data analytics to help brands optimise their eCommerce activities.  Customers include Procter & Gamble, HP, Unilever, Hamilton Beach, Nestle and Panasonic.  Revenue is generated predominantly through recurring annual subscriptions to the company’s Dashboard product which provides insights to help customers drive sales through Amazon and other eCommerce retailers.  The insights focus on product market share, its drivers, and the actions that can be taken to increase sales.

 One Click Retail had revenue of $4.9 million and Adjusted EBITDA of $3.4 million for the twelve month period ending December 2015, with a year-on-year growth of 59% and 78% respectively.  Gross assets at December 2015 amounted to $0.8 million.  Annualised subscription contract value stood at $10.1 million as of July 2016.

Duncan Painter, Chief Executive Officer of Accentual said, “We are delighted to welcome One Click Retail and Spencer and his team to Ascential.  It is a quality business that we have been tracking for some time in an exciting part of the retail vertical.  As a high-growth, globally scalable subscription information service product, One Click Retail fits with Ascential’s strategy of owning scalable, global market-leading products and we look forward to helping its talented management team to accelerate its growth.”

The company was founded in 2013 by former Amazon and Walmart executive Spencer Millerberg, and is based in Salt Lake City, Utah, USA.

UK, London & USA, Salt Lake City, UT

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Centaur acquires specialist marketing consultancy Oystercatchers for £3.35M

September 21, 2016 — Fusion DigiNet

centaur-logoCentaur Media Plc has acquired Oystercatchers LLP for £3.35 million. Oystercatchers is a consultancy helping brands to accelerate their marketing performance. 

Centaur is paying up to £3.35 million for Oystercatchers, with £2.2 million payable on completion. The deferred consideration is contingent on results, including  EBITDA for the 12 month period ending on 31 March 2017. All consideration is payable 75% in cash, 25% in Centaur shares with a two-year lock-in period on the shares. Completion is targeted for 1 October 2016. 

Oystercatchers’ founders of Suki Thompson and Peter Cowie, and senior management team will remain with the business and Suki Thompson will join the Centaur Executive Committee. 

Oystercatchers’ turnover has grown from £1.1million in the year to 31 March 2012 to £3.4million in the year to 31 March 2016. In the year to 31 March 2016, Oystercatchers made a profit before tax of £0.6m and had gross assets of £1.1m as at that date. 

Andria Vidler, CEO of Centaur Media commented, “This acquisition is a win-win for our businesses. The combination will enable Centaur to become the “go to” provider for brands seeking to drive its marketing performance. This kind of specialist acquisition is a good example of how Centaur will seek to accelerate its presence in its chosen market sectors. ”  

UK, Londo

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Informa acquires Penton, the US- based Exhibitions and Information Services group, for £1.2bn.

September 16, 2016 — Fusion DigiNet

Informa, the Business Intelligence, Exhibitions, Events and Academic Publishing Group, is to acquire Penton, the independent US- based Exhibitions and Professional Information Services group, from MidOcean Partners and Wasserstein & Co for £1.18bn.

The Acquisition will be funded through a combination of new debt and equity, including a fully underwritten rights issue of one Rights Issue Shares at 441 pence each for every four Existing Informa Shares to raise £715m. The Sellers will receive £1,105m consideration in cash and £76m in new Informa equity with a holding period of up to one year. Within this, £6m is to be paid to the management of Penton who own shares in the New York-based Group.

Based on Penton’s results for the 12 months ended 30 June 20161, the Board consider that these results imply a trailing acquisition multiple of approximately 11x adjusted EBITDA.

The acquisition will create one of the world’s largest owner/operators of Exhibitions, Events and Conferences. On completion, Informa’s US business will account for 47% of annual pro-forma revenues. It will also mean that less than 10pc of Informa’s revenue will be earned in the UK.

Penton’s portfolio of around 30 Exhibitions includes brands in Natural Products & Food (Natural Products Expo), Agriculture (Farm Progress), TMT (IWCE), Infrastructure (WasteExpo) and Transportation (MRO Event Portfolio).

Additionally, Penton has more than 20 digital subscription data Brands in verticals including Infrastructure (Equipment Watch), Transportation (Aviation Week Intelligence Network) and Design & Manufacturing (SourceESB), and a portfolio of 100+ print and digital B2B insight products .

informa-carterStephen A. Carter, Group Chief Executive, said: “Today we are announcing continued progress on our Growth Acceleration Plan with the proposed addition of Penton Information Services. This combination will further strengthen our capabilities in Global Exhibitions and Business Intelligence and extend our US presence.”

ACQUISITION TIMETABLE

The acquisition is expected to complete by early November.

15 September 2016

Announcement date

15 September 2016

Posting of Circular to shareholders and Prospectus published

10 October 2016

General Meeting for Shareholders

11 October 2016

Admission of Rights Issue Shares and dealings in Nil Paid Rights on the London Stock Exchange

26 October 2016

Results of Rights Issue announced

26 October 2016

Dealings in Rights Issue Shares, fully paid, commence on the London Stock Exchange

November 2016

Expected date of completion

UK, London & USA, New, York

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Informa

Penton

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Euromoney acquires FastMarkets for £13M

August 15, 2016 — Fusion DigiNet

Euromoney plcEuromoney Institutional Investor PLC is to acquire FastMarkets Ltd. On completion, Euromoney expects to make a cash payment of approximately £13m for the business. 

FastMarkets is a provider of real-time metals market information. It will become  part of Euromoney’s portfolio of digital pricing products that include Metal Bulletin and American Metal Market. 

fastmarketsEstablished in 1999, FastMarkets is used by non-ferrous and precious metals traders and risk managers as a workflow tool. Through its online platform, it provides over 120 proprietary price assessments, combined with exchange data including futures prices from the world’s largest commodity exchanges such as the LME and the CME. It provides coverage of non-ferrous physical premiums plus supporting treasury data supported by market commentary including webcasts directly from the LME floor. It also delivers daily technical and fundamental reports to its users. 

Metal Bulletin’s Managing Director Raju Daswani said: “FastMarkets is an excellent business that perfectly complements Metal Bulletin’s portfolio of price reporting and information products. Recent volatility in base metal markets has highlighted the need for high-quality price reporting on the physical metal markets to supplement the price discovery function of the world’s commodity futures exchanges. This acquisition complements Metal Bulletin and extends Euromoney’s global coverage of metals markets.”

UK, London

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Prysm Group has acquired Naidex, the UK’s largest disability, rehabilitation and homeware event

July 25, 2016 — Fusion DigiNet

NaidexB2B trade exhibition organiser Prysm Group has acquired Naidex, from i2i Events. Naidex is the UK’s largest disability, rehabilitation and homeware event, with around 200 exhibitors and over 9000 visitors.

“Naidex is, quite simply, exhibition royalty, and I can’t tell you how excited we all are to have acquired it,” said Nick Moss, MD of Prysm Group. “We are going to pour our hearts and souls into making the 43rd edition of Naidex a truly memorable event for the independent living sector, and the entire team can’t wait to get started.”

Prysm Group has a portfolio of over 25 shows across the UK, from ‘The Business Show’, which attracts over 25,000 businesses each year, to the niche, industry specific events, such as ‘Legalex’, ‘Elite Sports Performance’ and ‘Farm Business Innovation’.

Alison Willis, portfolio director, i2i Events, said: “Naidex has built a strong, loyal customer base thanks to the very hard work of the dedicated event team. i2i is dedicated to enhancing customer value and extending its global footprint, particularly through our large-scale events that we can geo-clone internationally.

 

UK, Bristol and London

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Ocean Media Group acquires Mercury Events Ltd, organisers of the Wedding Fairs and the Baby & Toddler shows

July 25, 2016 — Fusion DigiNet

OMG_logoOcean Media Group has acquired Mercury Events Ltd, organisers of the Wedding Fairs and the Baby & Toddler shows. The terms of the deal were not disclosed.

David Watt, CEO at Ocean Media commented: “This exciting acquisition significantly reinforces our position as the number one player in the wedding market. As well as adding strength and depth to our teams, this purchase creates an ideal platform to improve and grow our portfolio of consumer wedding shows”.

Matt Miller will join Ocean Media as Managing Director of the new Consumer Division.

Miller said: “This is a fantastic opportunity for us to combine the analysis, expertise and best practice which sits within both organisations to develop an extensive set of wedding and baby shows that offer superb value to all our exhibitors and to every visitor. We will be working very closely with our partners in both industries to grow the market to everyone’s benefit”.

He added: “Our values and vision for how we operate are very much the same. We’re aiming to serve our industries with an emphasis on innovation, integrity, and with a single-minded philosophy to produce shows that add genuine value to their markets every time they run”.

UK, London

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Questex acquires UK’s The Annual Hotel Conference

July 13, 2016 — Fusion DigiNet

questexBusiness information and events company Questex has acquired The AHC Company Limited, organizer of The Annual Hotel Conference. The terms of the deal were not disclosed.

The agreement merges the collective resources of Questex, organizers of the International Hotel Investment Forum (IHIF) Berlin and The AHC. Founders Chris Eddlestone and Jonathan Langston and their team will continue to lead content development and management of the event.

“We are tremendously pleased to team up with Chris and Jonathan and combine our resources to enhance the value provided to the UK hotel industry by this important event,” said Kerry Gumas, Questex president and chief executive officer.

“From its beginnings as a small, invitation-only gathering targeting the regional individual and small-chain hotel owner and operator, The AHC has grown over its 13-year lifetime into one of the UK’s largest hotel industry events outside London,” said Eddlestone. “With Questex’s significant scale and resources, we expect the event will grow at a faster pace, with new marketing opportunities for our supporters and partners.”

This year’s The AHC will be held Oct. 12- 13 at the Hilton Manchester Deansgate hotel. It is expected to draw around 700 delegates. The event, themed Performing in Transient Times, will bring individual, boutique and consortium hotel owners, operators and managers together with developers, investors, bankers, advisors, government agencies, designers, architects, consultants, tourism leaders, regional tourist board representatives and other stakeholders for relevant and inspirational educational content and peer-to-peer networking.

The AHC was cofounded by 30-year industry veteran Eddlestone, global head of hospitality and leisure services at Squire Patton Boggs, an international law firm; and Langston, a renowned industry consultant and commentator with a 30-year track record who most recently served as the UK chief operating officer for CBRE Hotels Europe, Africa and the Middle East.

USA, Newton, MA & UK, Manchester

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