Mitre Media acquires MunicipalBonds.com and BondFunds.com

November 16, 2012 — Fusion DigiNet

Mitre Media, a publisher of niche financial media assets, has acquired MunicipalBonds.com. MunicipalBonds.com is source of municipal bond market data and pricing information for individual investors and financial advisors. Mitre Media also acquired BondFunds.com as a part of the same transaction. Terms of the deal were not disclosed.

Founded in February 2012, Mitre Media has acquired flagship properties in other top finance verticals including Dividend.com and ETF Database. Mitre Media was founded by Tom Hendrickson, 29, who served as the former President of Investopedia through that site’s acquisition by Forbes.

Mitre Media founder Tom Hendrickson said, “At Investopedia, we pioneered providing basic financial information and definitions across all financial categories. With Mitre Media, our goal is to go deep within each category and operate the premier site. With MunicipalBonds.com, we saw a leader in a valuable niche with a very valuable demographic to advertisers. We are able to apply our expertise at scale to deliver the best in financial information to the investing public.”

Mitre Media plans on acquiring or launching sites in up to 20 additional financial categories through 2013. The company has raised over $8.5 million from investors including iNovia Capital, a leading venture capital firm.

USA, New York, NY

Posted in Content Media, Internet Media, Publishers, ~North America. Tags: , , . Leave a Comment »

Penton Media acquires Farm Progress From Fairfax Media for $80M

November 16, 2012 — Fusion DigiNet

Penton Media has acquired Farm Progress from Fairfax Media Limited of Sydney, Australia. The acquisition more than doubles Penton’s position in agriculture, which becomes the company’s largest sector group. The purchase price was $79.9 million before certain adjustments.

Farm Progress features four of the industry’s leading farm trade events, including America’s largest outdoor farm show, a broadcast division, and many well-established media brands. They join Penton Agriculture’s portfolio of market-leading franchises.

“Our investment is supported by several inarguable global economic trends including rising demand for nutrition, limited arable land and water, and strong export potential for agriculture products, capital equipment and related production technology into developing countries,” said Penton CEO David Kieselstein.

Farm Progress will become part of the Penton Agricultural Group reporting to Penton Senior Vice President, Dan Bagan. Jeff Lapin, president of Farm Progress, will leave the company at the end of the year. Farm Progress will remain headquartered in St. Charles, IL.

USA, New York, NY, & USA, St Charles, IL & Australia, Sydney

Related articles:

Posted in Broadcasting, Conference/Exhibitions/Events, Content Media, Internet Media, Publishers, ~North America, ~Oceana. Tags: , , . Leave a Comment »

Axel Springer sells Gamigo to Samarion S.E

November 16, 2012 — Fusion DigiNet

Axel Springer is selling Gamigo AG to Samarion S.E., a strategic investor in online gaming with its headquarters in Düsseldorf. Gamigo, is one of the leading German publishers and operators of online games in the MMOG (Massively Multiplayer Online Games) segment.

Dr. Jens Müffelmann, Head of the Electronic Media Division at Axel Springer AG: “We would like to thank the management and the employees for the great effort with which they have continuously developed Gamigo’s business in recent years.”

Axel Springer has held a stake in Gamigo since 2000. Since 2009 Axel Springer has held 100 percent of the company, which mainly operates in Germany and France, but also in other international markets.

Germany, Berlin

Related articles:

Posted in Content Media, Games, Internet Media, Publishers. Tags: . Leave a Comment »

Axel Springer Digital Classifieds acquires majority of property portal Immoweb in Belgium

November 16, 2012 — Fusion DigiNet

Axel Springer Digital Classifieds, the company founded by Axel Springer and global growth investor General Atlantic as part of a strategic partnership in Spring 2012, has acquired 80 % of the shares of the Belgian property portal Immoweb from members of the Rousseaux family and Produpress S.C.A. The purchase price comes to €127.5 million. Christophe Rousseaux, who will continue to manage Immoweb as CEO, and two other family members retain a 20 % share in the company.

IMMOWEB S.A. was founded in 1996 and operates the leading Belgian property portal. Every month more than 2.4 million unique visitors use Immoweb’s platform.

Axel Springer’s online classifieds business is bundled into Axel Springer Digital Classifieds GmbH, with Axel Springer holding a 70 % share and General Atlantic holding a 30 % share in this company. Along with the European job portal StepStone Group and UK-based job portal Totaljobs, the French property portal SeLoger, the German property portal Immonet and the German city portal meinestadt.de also form part of Axel Springer Digital Classifieds.

Germany, Berlin & Belgium, Brussels

Related articles:

Posted in Content Media, Internet Media, Publishers, ~Europe. Tags: . Leave a Comment »

Euromoney Institutional Investor Plc announces annual results

November 15, 2012 — Fusion DigiNet

Euromoney Institutional Investor Plc has announced annual results to September 2012

Highlights

Euromoney Institutional Investor PLC, the international online information and events group, achieved a record adjusted profit before tax of £106.8m for the year to September 30 2012, against £92.7m in 2011.  Adjusted diluted earnings a share were 65.9p (2011: 56.1p).  The directors recommend an 18% increase in the final dividend to 14.75p, giving a total for the year of 21.75p (2011: 18.75p), to be paid to shareholders on February 14 2013.

Total revenues for the year increased by 9% to £394.1m.  Underlying revenues, excluding acquisitions, increased by 3%.  The acquisition of Ned Davis Research (NDR) in August 2011 has helped increase the proportion of revenues generated from subscriptions to more than 50% for the first time.  Headline subscription revenues increased by 17% to £199.7m and underlying subscriptions, excluding NDR, by 5%.

The adjusted operating margin was unchanged at 30%.  Costs, particularly headcount, have remained tightly controlled throughout the year.  At the same time, the group has increased its investment in technology and new products as part of its online growth strategy.

Net debt at September 30 was £30.8m compared with £88.5m at March 31 and £119.2m at September 30 2011.  In the absence of any significant acquisitions, net debt has fallen by £88.4m since the start of the year, reflecting the group’s strong cash flows and an operating cash conversion rate* in excess of 100%.  The group’s net debt is now at its lowest level for more than a decade and its robust balance sheet provides plenty of headroom for the group to pursue its acquisition strategy.

As highlighted in previous trading updates, market conditions became noticeably tougher from June.  The uncertainty over Europe remains, as does a solution to the pending US fiscal cliff.  Meanwhile global financial institutions face the combined challenges of difficult markets, increased capital requirements and a tougher regulatory environment.  Inevitably they have responded by cutting costs, particularly people, and exiting some parts of their business.  However, the outlook for emerging markets, which account for more than a third of the group’s revenues, is more positive. The board expects this challenging trading background to continue at least into the early part of 2013.

Commenting on the results, chairman Richard Ensor said: “The record results for the year reflect the challenging market conditions as well as the successful implementation of our strategy.  Investment in online information businesses and emerging markets has created a global portfolio with a resilient business model.  Subscription revenues now account for more than 50% of group revenues, and more than a third of our revenues is derived from emerging markets. In 2013, we will continue to invest in our products to ensure that we are well placed to benefit from any improvement in the global economy.”

Read the full announcement here

UK, London

Related articles

Posted in Company Results, Conference/Exhibitions/Events, Content Media, Internet Media, Market Data & Information, Publishers, ~Europe, ~North America. Tags: , , . Leave a Comment »

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

Related articles:

Posted in Content Media, Internet Media, Publishers, ~North America. Tags: , , . Leave a Comment »

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

Related articles:

OTHER FUSION DEALS:

Media and Information

Business Services
Events, Broadcast and Other deals
Posted in B2B Services, Consultancy, Content Media, Internet Media, Publishers, ~Europe. Tags: , , , , . Leave a Comment »

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

Related articles:

Posted in Content Media, Internet Media, Publishers, ~Europe, ~North America. Leave a Comment »

Pearson and Bertelsmann agree Penguin and Random House merger

October 29, 2012 — Fusion DigiNet

Pearson and Bertelsmann have agreed combine Penguin and Random House. The possibility of the merger was reported in the media last week and over the weekend it was also reported that a possible cash offer from News Corp was rejected.

Under the terms of the agreement, Penguin and Random House will combine their businesses in a newly-created joint venture named Penguin Random House. Bertelsmann will own 53% of the joint venture and Pearson will own 47%. The joint venture will exclude Bertelsmann’s trade publishing business in Germany and Pearson will retain rights to use the Penguin brand in education markets worldwide.

Bertelsmann will nominate five directors to the Board of Penguin Random House and Pearson will nominate four. John Makinson, currently chairman and chief executive of Penguin, will be chairman of Penguin Random House and Markus Dohle, currently chief executive of Random House, will be its chief executive.

The new organisation will generate synergies from shared resources such as warehousing, distribution, printing and central functions. Pearson and Bertelsmann intend that the combined organisation’s level of organic investment in authors and new product models will exceed the total investment of Penguin and Random House as independent publishing houses.

The combination is subject to customary regulatory and other approvals, including merger control clearances, and is expected to complete in the second half of 2013.

In 2011, Random House reported revenues of €1.7bn (£1.48bn) and operating profit of €185m (£161m). Penguin reported revenues of £1.0bn and operating profit of £111m with total assets of £1.0bn. After completion, Pearson will report its 47% share of profit after tax from the joint venture as an associate in its consolidated income statement.

Under the terms of the agreement, neither Pearson nor Bertelsmann may sell any part of their shareholding in Penguin Random House for three years. To protect Pearson’s interests as a minority shareholder, if Bertelsmann declines a Pearson offer to sell its entire shareholding, Pearson may require a recapitalisation by which Penguin Random House raises debt of up to 3.5x EBITDA, with a dividend distributed to shareholders in line with their ownership. In addition, from five years after completion, either partner may require an IPO of Penguin Random House.

Marjorie Scardino, chief executive of Pearson, said: “Penguin is a successful, highly-respected and much-loved part of Pearson. This combination with Random House – a company with an almost perfect match of Penguin’s culture, standards and commitment to publishing excellence – will greatly enhance its fortunes and its opportunities. Together, the two publishers will be able to share a large part of their costs, to invest more for their author and reader constituencies and to be more adventurous in trying new models in this exciting, fast-moving world of digital books and digital readers.”

Thomas Rabe, chairman and CEO of Bertelsmann, said: “With this planned combination, Bertelsmann and Pearson create the best course for new growth for our world-renowned trade-book publishers, to enable them to publish even more effectively across traditional and emerging formats and distribution channels.It will build on our publishing tradition, offering an extraordinary diversity of publishing opportunities for authors, agents, booksellers, and readers, together with unequalled support and resources.”

UK, London & Germany, Gütersloh & USA, New York, NY

Related links:

Posted in Content Media, Publishers, ~Europe, ~North America. Tags: , , , . Leave a Comment »

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

Related articles:

OTHER FUSION DEALS:

Media and Information

Business Services
Events, Broadcast and Other deals

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.

Posted in B2B Services, Conference/Exhibitions/Events, Consultancy, Content Media, Fusion Deal, Internet Media, Publishers, ~Europe. Leave a Comment »
« Older posts
Newer posts »