TechTarget acquires LeMagIT

December 17, 2012 — Fusion DigiNet

TechTarget_Logo-TaglineTechTarget has acquired the websites and product offerings of LeMagIT, a strategic partner with TechTarget since 2010.

Since its launch in 2008, LeMagIT’s network of sites has offered French-language news and analysis for IT decision makers on core enterprise IT topics such as cloud computing, virtualization, security, and storage and attracts over 250,000 visits per month. The existing management and editorial team of LeMagIT, led by Chairman Eric Ochs, and Founder and Chief Operating Officer David Castaneira, will be remaining with the company and working with TechTarget to continue to grow its French business. Ochs was formerly CEO at IDG France, and Castaneira, formerly the Online Director at IDG France.

LeMagIT’s network includes LeMagIT.fr, StratégiesCloud.fr, as well as an IT white paper and webcast library, LesSourcesIT.fr.

“Our EMEA-based business continues to see very strong growth, and this acquisition is a further investment in our capabilities there,” said Greg Strakosch, CEO, TechTarget. “It is also a continuation of our strategy of having direct operations in the major markets across the world, giving our advertisers the ability to run integrated campaigns across multiple geographies.”

USA, Newton, MA & France, Paris

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MediaMath acquires mobile and video ad delivery platform Tap.Me

December 10, 2012 — Fusion DigiNet

mediamathMediaMath, a digital media-buying platform, has acquired mobile and video in-game ad platform Tap.Me.  The terms of the deal were not disclosed.  Tap.Me had raised in excess of $4M from investors including: Hyde Park Venture Partners, I2A Fund, Hyde Park Angels and Great Oaks Venture Capital.

“As marketers are increasingly turning their focus to mobile and video, Tap.Me has built technology that makes it easy for marketers to deliver their message in these environments,” said Joe Zawadzki, MediaMath CEO. “By adding their technology and brilliant engineering team, we’re building a better platform that gives advertisers the ability to buy across all digital marketing channels from one single platform.”

Tap.Me CEO Matt Spiegel joins MediaMath’s executive team as SVP and GM of Open, MediaMath’s business and technology environment for digital interoperability, and will oversee MediaMath’s operations in the Mid-West region.  The entire Tap.Me team will join MediaMath.

New York, NY & Chicago, IL

 

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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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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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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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McGraw-Hill to Sell Education Business to Apollo for $2.5 Billion

November 27, 2012 — Fusion DigiNet

McGraw-Hill  is to sell its McGraw-Hill Education business to Apollo Global Management for $2.5 billion.  Earlier reports suggested that McGraw-Hill had hoped to achieve a $3 billion sale.

McGraw-Hill announced a restructuring program in September 2011. After the sale of the education business McGraw-Hill will becoming a more focused financial services company and will change its name to McGraw-Hill Financial,

“After carefully considering all of the options for creating shareholder value, the McGraw-Hill Board of Directors concluded that this agreement generates the best value and certainty for our shareholders and will most favorably position the world-class assets of McGraw-Hill Education for long-term success,” said Harold McGraw III, Chairman, President and CEO of The McGraw-Hill Companies who will lead McGraw Hill Financial once the transaction is complete.  “We were able to secure an attractive outcome and create additional balance sheet flexibility for McGraw Hill Financial.”

The Company will use the estimated proceeds of approximately $1.9 billion, net of tax and closing adjustments, to “sustain its share repurchase program, to make selective tuck-in acquisitions that enhance McGraw Hill Financial’s portfolio of powerful brands, and to pay off any short-term borrowing obligations.”

McGraw-Hill received financial advice from Evercore Partners and Goldman, Sachs & Co., and legal advice from Wachtell, Lipton, Rosen & Katz and Clifford Chance.

Apollo received financial advice from Credit Suisse, UBS Investment Bank and BMO Financial Group.  The financing is provided by Credit Suisse, Morgan Stanley, Jefferies, UBS Investment Bank, Nomura and BMO.  Apollo received legal advice from Paul, Weiss, Rifkind, Wharton & Garrison LLP and Morgan, Lewis and Bockius LLP.

USA, New York, NY

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Local World to acquire the regional publishing assets of Northcliffe and Iliffe

November 21, 2012 — Fusion DigiNet

Local World, a newly formed company, is acquiring the regional publishing assets of the Northcliffe and Iliffe businesses and will have an agreed enterprise valuation of circa £100 million at completion. On a pro forma basis, Local World would have reported revenues of £273 million and operating profit of £21 million for the twelve months ended 30 September 2011, and would have had gross assets of £38 million at that date.

Key terms:

  • DMGT will to sell Northcliffe Media, its regional newspaper business for £52.5m in cash and a 38.7% shareholding in Local World. For the financial year ended 30 September 2011, Northcliffe Media had gross assets of £32m and made an operating profit of £17m.
  • The Iliffe family, owners of Yattendon Group, will sell Iliffe News & Media to Local World in exchange for a 21.3% shareholding in the new business.
  • Trinity Mirror will acquire a 20% shareholding in Local World for £14.2 million.
  • The remaining Local World shares will be purchased by other investors including Artefact Group, an Investment Fund associated with Lord Ashcroft, and Odey Asset Management.
  • Steve Auckland, currently Chief Executive of Northcliffe, will become CEO of Local World. Rachel Addison, Group Finance Director of Northcliffe, will assume the same role at the new company alongside a board of directors drawn from the main shareholders. The company will be chaired by David Montgomery.

Local World will become the fourth-largest regional newspaper publisher in the UK, with more than 107 print titles and 60 websites. DMGT will contribute more than 80 titles to the new venture, with another 36 coming from Iliffe News & Media.

Auckland said: “Local World will be a comprehensive local content provider, offering the best and most trusted source of news, views and advertising in print, online and mobile, to its local audiences in the UK. The new company will be well-resourced, entrepreneurial, and able to respond quickly to the differing requirements of local communities.”

Local World, with a combined weekly newspaper audience of 6 million readers and 7 million online users, aims to revitalise local media by offering fully integrated print and digital media services that focus on relevant content, advertising and local services across the UK.

The combined product portfolio of 63 local portal websites has a monthly audience of over seven million unique users. The print business includes 16 daily titles, 36 paid weeklies, 40 free weeklies, two Metro franchises and a number of niche products including magazines. Famous brands include the Cambridge Evening News, Leicester Mercury and Hull Daily Mail. The combined print portfolio has a weekly reach of six million people.

UK, London

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American City Business Journals acquires Streetwise Media,

November 17, 2012 — Fusion DigiNet

American City Business Journals, the USA’s largest print and online publisher of local business news, has acquired Streetwise Media, a Boston-based digital media company that uses a community publishing platform to cover local news. Terms of the transaction were not disclosed.

Streetwise currently operates two web sites – www.bostinno.com in Boston and www.inthecapital.com in Washington, D.C. – that focus on local news about business, innovation and technology, education, politics and lifestyles.  The sites are targeted at young professionals in their 20’s and 30’s.

Collectively, the Streetwise sites attracted more than 2.6 million unique visitors in the last month and had more than 9 million page views.

“In a short amount of time, Streetwise has attracted a very loyal and robust audience that is different from but complementary to what we do at our business journals in Boston, Washington and elsewhere,” said Whitney Shaw, president and chief executive officer of ACBJ.

“We’re looking forward to helping Streetwise grow its business significantly and feel that many of the things we experienced building American City have a direct application to their efforts.”

Streetwise founders Chase Garbarino and Kevin McCarthy will remain with the company as chief executive officer and chief technology officer, respectively.  The company will continue to be based in Boston.

USA, Charlotte, NC & Boston, MA

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