NewBay Media acquires Intent Media Limited

December 7, 2012 — Fusion DigiNet

New Bay IntentNewBay Media has acquired Intent Media. Intent, based in the U.K., produces business publications, websites and events within the entertainment, technology and leisure markets. Its brands include Pro Sound News Europe, TVB Europe, Installation, MCV, and ToyNews among many others.

NewBay, was formed in 2006 by the sale of United Business Media’s CMP Entertainment Media division. It is backed by The Wicks Group of Companies, www.wicksgroup.com a New York-based private equity

“Strategically, our plan has always included international expansion, and I am pleased that we were able to do this with a company that so perfectly complements our own portfolio and mission,” states Steve Palm, President and CEO, NewBay. “The addition of Intent immediately enhances our ability to serve the Broadcast, Pro Audio and AV markets. Further, Intent’s terrific team and operating platform open up new opportunities for global expansion of our powerful U.S. brands, as well as development of Intent’s market-leading Gaming, Music and Computer/Mobile Retailing brands into the U.S.”

Intent will operate in parallel to NewBay’s existing business. Stuart Dinsey, Intent’s Founder and Managing Director, will continue his role under the new ownership and will help manage NewBay’s European efforts, operating from Intent’s offices in Hertfordshire and London.

This is the sixth major acquisition of brands by NewBay in as many years, adding assets from United Business Media’s CMP Entertainment Media division in September 2006, from IMAS in July 2007, from Reed Business Information-US in December 2009, from Penton in February 2011, and from Future PLC in January 2012.

USA, New York, NY & UK, Hertford, Hertfordshire

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Advanstar Global acquires ENK International

December 7, 2012 — Fusion DigiNet

Advanstar Global LLC, an events and information services company that also owns Advanstar Communications, has acquired ENK International LLC. ENK arranges fashion events that features Fashion Coterie, Intermezzo, and Accessory Circuit in New York, Las Vegas, Europe and Asia. ENK and Advanstar Communications will be operated separately.

The acquisition is a major addition to Advanstar Global’s global portfolio, which already contains MAGIC, PROJECT, FN Platform, Licensing International, other tradeshows, conferences, and events. Advanstar Global’s financial sponsors include Anchorage Capital Group LLC, Ares Management LLC, and Veronis Suhler Stevenson.

Advanstar Global’s CEO, Joe Loggia, stated, “Having ENK, MAGIC and PROJECT within the same family of companies provides the fashion industry a choice of intimate and customized environments that satisfy their market needs. This allows us to be more responsive to our customers as we work to coordinate dates and venues, which makes the process more valuable for exhibitors and retailers. Moreover, Advanstar Global has made significant investments in new technology that will enable our company to further drive value, service and solutions across the entire fashion marketplace.”

USA, Wilmington, DE

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ITE Group acquires a minority stake in ABEC in India

December 4, 2012 — Fusion DigiNet

ITEAirgate Holdings Ltd, a wholly owned subsidiary of exhibitions business ITE Group, has acquired 28.3% of the shares of Asian Business Exhibitions & Conferences Ltd. (ABEC) from Qatari Investment bank QInvest. The total consideration is c. INR (Indian Rupees) 1,227 million (£14 million), which is payable in cash on completion. The acquisition will be funded from existing cash resources and agreed debt facilities. There are arrangements in place to enable ITE to increase its shareholding in future.

ABEC generated profits of INR 140 million (£1.6 million) in the year ended 31 March 2012 on revenues of c. INR 1.1 billion (£12.5 ABECmillion) and had gross assets of INR 1,724 million (£20 million) at completion.

ABEC run 19 exhibitions in India across 11 vertical markets including construction, architecture, design, education, lifestyle, real estate, and oil & gas. ABEC’s 8% market share makes it India’s largest private exhibition organiser.

Commenting on the acquisition, ITE’s Chief Executive Officer, Russell Taylor, said:

“ABEC has a quality portfolio of events with strong market positions in sectors where ITE has an established presence such as construction, oil & gas and security. ABEC’s events in the construction and design sector total more than 65,000m2 net of sold exhibition space, giving ITE an interest in India’s dominant trade shows for this growing sector.

“With expertise in this sector and its strong international sales network, ITE can deliver significant value to ABEC’s business. Along with ITE’s current business in India, this gives ITE a leading position in a dynamic region with an exhibition industry that is currently experiencing strong growth.”

ITE also announced its preliminary results today for the year to 30th September 2012. The financial highlights are below:

  • Revenues up 11% to £172m ; Headline profits up 3% to £53m
  • Net cash of £20.0m at 30th November 2012
  • £95m of revenues booked for 2013

Full details here

UK, London & India, Mumbai

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LDC Completes the £7.3m Buyout of HMV’s Live Music Division MAMA Group

December 4, 2012 — Fusion DigiNet

ldc_logoLloyds Development Capital has completed the £7.3 million buyout of HMV’s Live Music division, MAMA Group, which is the UK’s second-largest live music business.

MAMA holds over 2,700 events annually in the UK, with up to one million people visiting its venues and 150,000 attending its festivals every year.

The transaction provides a strong platform for CEO Dean James, supported by a very experienced management team, to pursue a focused buy-and-build strategy targeting both UK and overseas opportunities. Future international acquisitions will increase the global influence of the Group and its brands, and enhance the prospect for faster growth from global sponsorship and promotions.

MAMA runs a nationwide network of live music venues with capacities ranging up to 2,300  These include, The Forum, The Garage,mama-logo Camden Barfly, Jazz Cafe and The Borderline in London as well as the Edinburgh Picture House, the Manchester Ritz and the Birmingham Institute regionally.

MAMA’s stable of festivals includes international music brands Global Gathering, Godskitchen and UK based events Lovebox, The Great Escape and Wilderness, curated in association with Secret Garden Party.

MAMA also owns music magazine The Fly.

LDC has a growing track record in the leisure sector. Recent investments include Boom Pictures, Ocean Outdoors, WRG Creative, and Orion Media.

Alistair Pendleton, LDC Investment Director, comments:

“Live Music is a growing and increasingly important sector of the UK economy and in supporting the MBO of MAMA Group we believe we are backing the best management team and the most recognised, successful brand in the business.

“MAMA Group is renowned for its iconic venues, where some of the world’s most successful music artists have performed and hugely popular music festivals, both in the UK and overseas, which have attracted strong followings and showcased some excellent new artists. Management have an exciting buy-and-build strategy and LDC has the resources, skills and track record to help them accelerate their plans and develop the Group into a globally-recognised business and brand.”

UK, London

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TV production company Tinopolis acquires Passion Distribution Limited

December 3, 2012 — Fusion DigiNet

tinopolisTinopolis, one of the UK’s largest independent TV production and distribution companies, has acquired Passion Distribution Limited , a  global media distribution company. The transaction adds significantly to Tinopolis’s existing distribution business and is the latest acquisition in its strategy of expanding its international reach and capabilities. It follows the acquisitions in 2011 of A. Smith & Co and Base Productions, both of which are Los Angeles-based and are major suppliers to US networks and cable channels.

Passion Distribution was incorporated in 2008 by Sally Miles and has established itself as a leading television programme and formats distributor with an extensive catalogue of content in various genres including factual entertainment, reality, documentaries, lifestyle and game-shows. Passion distributes content exclusively for numerous UK and North American producers and broadcasters to media platforms across the world and has exclusive distribution agreements with broadcasters and production companies including Scripps Networks, The Oprah Winfrey Network, World of Wonder and Sundance Channel.passion distribution logo

The acquisition of Passion will significantly expand Tinopolis’s ability to maximise the value of its portfolio of companies, programmes and formats. Tinopolis and Passion will continue to grow Passion’s existing business and brand through investment in third party content and co-productions with the support of the wider group. Passion, under the continued leadership of Sally Miles, will inherit Tinopolis’ existing distribution arm MINT with its catalogue of over 2,500 hours of content, its many formats and  sales staff.

Ron Jones, Executive Chairman of Tinopolis, commented: “Tinopolis’s strategy is to develop and grow as a Group that is successful creatively and financially with a strong international reach. With over 40% of our business now outside the UK, we needed a distribution business that could match this and in Sally and her team we have found our ideal partners.”

UK, Carmarthenshire & London

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MyHeritage acquires Geni.com and raises $25m in new funding round

December 1, 2012 — Fusion DigiNet

MyHMyHeritage, the online family history network, has acquired Geni.com and closed a new USD$25M funding round led by Bessemer Venture Partners, with existing investors Index Ventures and Accel Partners also participating. Geni.com Founder David Sacks and BVP Partner Adam Fisher are joining the MyHeritage Board of Directors.

The purchase of Geni.com is the eighth and largest acquisition made by MyHeritage since the launch of its online family history network in 2005. It extends MyHeritage’s network to 72 million registered users, 1.5 billion profiles and 27 million family trees.

The new investment round will be used by MyHeritage to boost growth of its historical content services and expand commercial operations worldwide. In addition to acquiring significant record collections from Europe and rolling out global crowd-sourcing projects, the funds will enable MyHeritage to explore additional M&A opportunities and ramp up its international marketing operations. The latest funding round brings the total funds raised so far by MyHeritage to USD$49 million.

“Today’s news is a major turning-point for the family history industry, giving us significant new resources to extend our market leadership and deliver new value to families worldwide,” said Founder and CEO of MyHeritage, Gilad Japhet. “Well established as an innovative and social brand, Geni.com is a natural addition to MyHeritage and together we look forward to taking collaborative family history to new heights.”

Founded in 2007, Geni.com will continue to operate as a separate brand based out of its California office, which will also serve as the main engineering hub for MyHeritage in the US, alongside its main content offices in Utah. The entire staff at Geni.com will join the MyHeritage team.

The services of MyHeritage and Geni.com will initially run independently. MyHeritage plans to give respective users the option to collaborate on family history research by enabling two-way information flows between the sites that will facilitate new family discoveries and provide greater value to the users of both services.

USA, Los Angeles, CA & Provo, UT& Israel, Tel Aviv

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Google acquires Incentive Targeting

December 1, 2012 — Fusion DigiNet

googleGoogle has acquired coupon targeting company Incentive Targeting. Terms of the deal have not been disclosed.

The acquisition was announced in a Tweet by Mike Dudas. Mike is on Google’s mobile commerce team. The Tweet reads, “Google acquires Incentive Targeting to power highly targeted manufacturer and private label coupon programs”

Here is the press release from Incentive Targeting:

We are excited to announce that Incentive Targeting has been acquired by Google!

When we founded Incentive Targeting in 2007, we set out to do for retail couponing what Google had done for online advertising: make it simple, relevant, measurable, and effective. So, it is both humbling and gratifying to be joining the ranks of the company that inspired our initial vision.

As part of Google, we will have the resources and expertise to continue the transformation of couponing from a way to give discounts to a way to build business. And, we can now work towards that vision as part of a company that improves the lives of hundreds of millions of people every day.

We didn’t reach this milestone alone. From day one, we have relied on the support and commitment of our retailers, brands, investors, partners, and advisors, as well as the hard work and dedication of our team. We could not have done this without them, and as we look ahead, we are thrilled to be part of Google!

– Ben, Josh, and the entire Incentive Targeting team

USA, Mountain View, CA & Cambridge, MA

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USA, Mountain View, CA & Cambridge, MA

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John Menzies acquires Orbital Marketing Services

November 29, 2012 — Fusion DigiNet

John Menzies plc subsidiary Menzies Distribution has acquired Orbital Marketing Services Group Limited for £13.6 million.  Orbital was 51% owned by BP Direct Mail Company Limited and 49% by Rydlings Limited, whose shareholders comprise the existing management team who will remain with the business.

Orbital comprises a portfolio of UK based logistics and marketing services businesses serving the travel, tourism, education, charity, publishing and healthcare sectors. The company was established in 1972 and it employs over 550 staff at 9 locations across the UK.

For the year to March 2012 Orbital reported an operating profit of £2.2m and gross assets of £13.5m.

Menzies are paying a total of £13.6 million with £7.7 million payable now and a further £5.9 million payable on 31 December 2014. Further consideration, up to a maximum of £6.3m may be payable only if exceptionally high levels of profit performance were to be achieved by December 2014.

Iain Napier, Chairman of John Menzies plc, said, “I am delighted that Menzies Distribution has acquired Orbital. This acquisition allows us to expand our printed media distribution footprint whilst also taking a large stride into adjacent growth areas. The team are now focussed on integrating these new businesses and driving through the significant synergies that have been identified. Orbital opens up new opportunities for us. The combined network will bring new reach to our logistical capabilities and allow us to expand some of Orbital’s services into new areas.”

UK, Edinburgh, Scotland & Asford, Kent

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DMGT preliminary results – pre-tax profits up 64%

November 27, 2012 — Fusion DigiNet

Daily Mail and General Trust has reported its unaudited preliminary results for the year ended 30 September, 2012.

Total pre-tax profits rose 64% to £206.3 million. This included more than £100 million in charges and £150m in profits from disposals. Total revenues dropped by 1% to £1.96 billion.

MailOnline enjoyed a strong year of growth, recording a 74% increase in revenue to £28 million.

Northcliffe Media was the biggest surprise, contributing operating profit of £26 million (2011: £17 million) from revenues of £213 million (2011: £236 million).

Northcliffe Media, which is being sold to Local World venture, had reported a 37% fall in profits in 2011.

Martin Morgan, Chief Executive, said, “DMGT has delivered a good set of results in the 12 months to 30 September. Group adjusted pre-tax profits* rose by 10%. Our international B2B companies have increased their revenues and profits* by 7% and 8% respectively on an underlying# basis. Although our UK consumer businesses were impacted by challenging trading conditions, it was particularly pleasing that Associated was able to grow its revenues by 2% on an underlying# basis and that underlying# profits* for the consumer businesses rose 12% – reflecting greater productivity and efficiency linked to continued digitisation in that division.

We continued to refine our portfolio of businesses during the year with further acquisitions and disposals aimed at improving our long term growth potential. Today we are a more focused and financially stronger Group, leaving us well positioned for 2013 and beyond.”

Read the full announcement here.

UK, London

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Future Plc preliminary results – earnings boosted by digital growth

November 27, 2012 — Fusion DigiNet

Future plc has reported a rise in 2012 earnings with a 26% increase in operating profit to 6.8 million pounds. Revenue was down 13% to £123.5 million.

Digital growth was particularly strong. Group digital revenues were up 30% to £20.6m, with digital advertising accounting for 44% of total advertising. Visits to Future websites were up 70%, to more than 50m global unique users per month.

Mark Wood, Future’s Chief Executive, said: “This has been a year of substantial progress for Future and the Group is now well positioned to grow and diversify revenues as a global digital business. Our US operations have been restructured and are heading for profit in 2013. We are a leading publisher in tablet markets and our online audience has grown by 70% to more than 50 million unique users a month. These advances are opening new opportunities and we will accelerate Future’s digital transformation in the year ahead.”

UK, London

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