A Fusion Deal: Euromoney acquires TowerXchange

December 4, 2017 — Fusion DigiNet

TowerXchangeTowerXchange, the open community for thought leaders in the emerging market towers industry, has been sold to Euromoney Institutional Investor PLC.

Fusion Corporate Partners acted as corporate advisor for TowerXChange. The Fusion team was led by Piers Bearne. The terms of the deals were not disclosed.

TowerXchange is an information and events business which has become a source of information on the tower market, the infrastructure supporting the growth of the mobile telecoms market. Acquiring TowerXchange is part of Euromoney’s telecoms strategy to facilitate industry collaboration and trading in areas ranging from pricing to standards across the telecoms ecosystem. 

Commenting on the deal, Piers Bearne of Fusion said, “TowerXchange is deeply embedded in its sector, with a very strong management team. We were looking for the best partner to support the company’s geographical and product expansion, and are delighted that Euromoney are its new owners.”

Rosalind Irving, Euromoney Divisional Director responsible for its telecoms businesses, said: “TowerXchange is an excellent business which serves an increasingly important part of telecoms infrastructure. It is strategic for Euromoney because it is highly complementary to the markets served by TelCap, BroadGroup (in which we invested in March) and Layer123 (acquired in April). We look forward to working with the expert TowerXchange team.”

UK, London

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PenskeMedia acquires FashInvest

November 27, 2017 — Fusion DigiNet

PensPenske Media CorporationkeMedia Corporation and its subsidiary Fairchild Media today announced the acquisition of FashInvest, the innovator in connecting the fashion-tech, fashion, retail, and branded consumer goods sectors with the finance and investment sectors. This acquisition follows Penske Media and its subsidiary Fairchild Media’s acquisition last month of Sourcing Journal, a media brand for global executives focused on the sourcing and manufacturing industries. The financial terms of the deal were not disclosed.

FashInvest, known for being “where fashion meets finance,” began as a series of educational industry events in 2009 and has rapidly evolved to now be a leading global media resource. FashInvest’s daily online news posts, reports, and exclusive interviews on the emerging fashion tech and fashion arenas have established it as a news authority for a growing number of fashion-tech and fashion entrepreneurs seeking the latest news on who has received funding, who is providing the funding, and what strategies are attracting financing.

“FashInvest has tapped into the vital intersection of finance and fashion—a business that has been built over the last decade on discovering and developing emerging fashion and retail brands and their access to capital markets.  Fairchild Media has consistently been the leader in coverage of well-established global fashion brands, and with the acquisition of FashInvest the opportunity to deepen our coverage of emerging companies, start-ups, and the financial institutions (VC’s, Private Equity, etc.) that are shaping the future fashion industry is dramatically enhanced,” said PMC Chairman and CEO Jay Penske.

USA, New York, NY, Wilmington, DE

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Meredith Corporation to acquire Time Inc.

November 26, 2017 — Fusion DigiNet

MeredithMeredith Corporation has announced that it has entered into a binding agreement to acquire all outstanding shares of Time Inc. for $18.50 per share in an all-cash transaction valued at $2.8 billion, expected to close during the first quarter of calendar 2018.

The deal will create a diversified media and marketing company with $4.8 billion in revenues, including $2.7 billion of advertising revenues. Additionally, Meredith anticipates generating cost synergies of $400 million to $500 million in the first full two years of operation.

Time Inc. is a multinational mass media corporation which owns and publishes over 100 magazine brands, including its namesake Time, Sports Illustrated, Travel + Leisure, Food & Wine, Fortune, People, InStyle, Life, Golf Magazine, Southern Living, Essence, Real Simple, and Entertainment Weekly. It also has subsidiaries which it co-operates with the UK magazine house Time Inc. UK, whose major titles include What’s on TV, NME, Country Life, and Wallpaper. Time Inc. also co-operates over 60 websites and digital-only titles.

“We are creating a premier media company serving nearly 200 million American consumers across industry-leading digital, television, print, video, mobile, and social platforms positioned for growth,” said Meredith Corporation Chairman and CEO Stephen M. Lacy. “We are adding the rich content-creation capabilities of some of the media industry’s strongest national brands to a powerful local television business that is generating record earnings, offering advertisers and marketers unparalleled reach to American adults.”

USA, New York, NY & Des Moines, IA

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Ion Investment Group buys controlling stake in Dealogic from Euromoney and Carlyle Group

November 22, 2017 — Fusion DigiNet

dealogicIon Investment Group is to buy a controlling stake in Dealogic, a provider of content and software solutions to financial firms, from Carlyle Group LP and Euromoney Institutional Investor.

Euromoney Institutional Investor PLC said it is selling its minority equity stake in Dealogic for approximately $135m. Euromoney had acquired a 15.5 percent stake in Dealogic for $59.2 million in 2014. Ion Investment Group and Carlyle Group did not disclose their terms. The process is expected to complete in approximately six weeks. 

Euromoney will continue to receive from Dealogic the league tables and data analytics products used in its Global Capital business.

Euromoney’s results for the year ended 30 September 2017 included £3.9m in adjusted profit before tax from Dealogic. The gross assets of Dealogic at 30 September 2017 were £551.6m.

Uk, London

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Mark Allen Group to acquire Community Care from RBI

October 11, 2017 — Fusion DigiNet

MAGMA Education, a part of the Mark Allen Group, is to acquire Community Care, from Reed Business Information, part of RELX Group. The terms of the deal were not disclosed.

Community Care is a digital, subscription-based resource for social workers. It works through two platforms: Community Care Inform Children and Community Care Inform Adults.

For Mark Allen himself Community Care has come full circle. He was the launch editor in 1974 of what was then a news-orientated and jobs-based magazine. Subsequently, he became the magazine’s publisher.

He said: “This really is a dream come true. RBI launched Community Care at exactly the right time and it rapidly became a well-respected, award winning and highly profitable magazine. Editing Community Care at a young age was a pivotal moment in my career from which I have prospered. I never thought that one day I would own this outstanding brand.

Mark Allen Group will see revenues rise to nearly £45 million at the end of this financial year, net profits approaching £6 million and EBITDA to £8 million.

Community Care is the third acquisition the group has made this year. A few months ago, the company purchased the largest special educational needs exhibition, TES SEN Show, from TES Global Ltd.

In June the company acquired Unity Media and Unity Exhibitions, which has a number of magazines and a major exhibition, the RCI Show, in the built environment.

UK, London

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Pearson completes sale of 22% stake in Penguin Random House.

October 5, 2017 — Fusion DigiNet

Pearson has  completed the sale of a 22% stake in the Penguin Random House Venture to  Bertelsmann SE & Co KGaA.

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Briefing Media invests in business publisher Urner Barry

October 4, 2017 — Fusion DigiNet

Briefing MediaBriefing Media, the agribusiness media and information company backed by Lyceum Capital, has announced a strategic investment in Urner Barry Publications Inc. The terms of the deal were not disclosed.

ub_logoUrner Barry is a business publisher specialising in the reporting of market news and quotations to clients in the poultry, egg, meat, seafood and related segments of the food industry through a variety of print and non-print media. Urner Barry can trace its roots back to 1858 when Benjamin Urner, a New York printer, publishing the Producers’ Price-Current market report—later to be known as the Urner Barry’s Price-Current.

This is the second add-on for Briefing Media since Lyceum invested in the business in 2015. It follows the acquisition of Toulouse-based Global Data Systems in June 2016.

Commenting on the deal Briefing Media’s CEO, Neil Thackray said “Urner Barry has a strong heritage, and has been relied on by generations of agribusiness professionals to provide the information they need to run their businesses. Our strategic partnership will be hugely valuable for both companies and we look forward to cementing our position as the leading global provider of agricultural information.”

UK, London & USA, Toms River, NJ

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Haynes acquires the E3 Technical business from Carweb

October 2, 2017 — Fusion DigiNet

haynesHaynes Publishing Group has reached agreement on the acquisition of the E3 Technical business from Carweb Ltd., a Solera UK subsidiary. Haynes is paying £4.72 million payable in cash on completion

The E3 Technical business consists of repair and maintenance information, vehicle registration mark look-up and an associated provision of helpdesk services. The Transaction includes the acquisition of customer contracts, and employees from Carweb.

Commenting on the Transaction, Eddie Bell, Chairman of Haynes, said “this acquisition will significantly strengthen the Group’s professional data solutions offering in the UK and provide cross over benefits for Haynes’ consumer division.”

UK, Yeovil, Somerset

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Newsquest acquires NWN Media

September 26, 2017 — Fusion DigiNet

NewsquestNewsquest Media Group has acquired NWN Media Ltd, the publisher of 13 local news brands across North and Mid Wales, Cheshire and Shropshire. The terms of the deal were not disclosed,

NWN’s portfolio comprises 12 weekly newspapers and one daily, with associated websites, including the likes of The Leader (Wrexham and Flintshire), the Chester Standard, the Powys County Times, the Denbighshire Free Press, the Whitchurch Herald and the North Wales Chronicle. NWN also operates an extensive contract printing operation.

Henry Faure Walker, Newsquest CEO said: “NWN Media comprises a stable of really strong local media brands that command great trust and unrivalled audiences in their communities. We’re looking forward to working with the NWN staff as they continue to transition their business to a successful and more sustainable future. We aim to facilitate a structure whereby they can benefit from the resources that Newsquest can provide whilst enabling them to carry on doing what they do best – namely providing first class local content, and advertising solutions for the readers and businesses in their region.”

UK, London & UK, Flintshire, Wales

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Informa acquires Dove Medical Press

September 26, 2017 — Fusion DigiNet

DoveInforma PLC has acquired Dove Medical Press, a privately held company specializing in the publication of Open Access peer-reviewed journals across the broad spectrum of science, technology and especially medicine. The terms of the deal were not disclosed.


Dove Medical Press was founded in 2003 with the objective of combining the highest editorial standards with the ‘best of breed’ new publishing technologies. The company has offices in Manchester and London in the United Kingdom, representatives in Princeton, New Jersey in the United States, and editorial offices in Auckland, New Zealand. 

Stephen A. Carter, Informa Group Chief Executive, said: “The addition of Dove Medical Press adds strength and capability to our OA portfolio, further increasing choice and flexibility for researchers across a widening range of subject areas. Its track record, publishing platform and growing reputation in Health Sciences enhance our Journals business, strengthening our position in the attractive and growing OA market.”

Dove Medical Press is an independent OA journals publisher, founded in 2003, producing a range of quality OA journals, mainly in Health Sciences, with additional content in Science and Technology. A large proportion of its journals are indexed by the Web of Science and PubMed and a growing number have established and improving impact factors. Leading titles include OncoTargets and Therapy, International Journal of Nanomedicine and Clinical Ophthalmology. 

The company has offices in Manchester and London in the United Kingdom, representatives in Princeton, New Jersey in the United States, and editorial offices in Auckland, New Zealand. 

Financial details were not disclosed but the transaction is expected to be modestly accretive to adjusted earnings in the first full year of ownership and deliver a return on investment ahead of the cost of capital within three years.

UK, London & Manchester

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