Private equity firm Wafra Partners has acquired All Island Media, a shopper publication group serving the Long Island, New York local media market. Terms of the deal were not disclosed.
USA, New York, NY
McGraw-Hill Education, a division of The McGraw-Hill Companies, has acquired Starting Out, a publisher of life-skills learning, and workplace readiness information for the education, workforce, and corrections markets.
The acquisition significantly strengthens McGraw-Hill Education’s position as a leading provider of adult basic education, college, workforce, and career-development resources, providing the company with considerable opportunities to leverage Starting Out’s products and capabilities.
“We are pleased to expand both our print and digital capabilities in career and workforce development,” said Jeff Livingston, senior vice president of McGraw-Hill Education’s Applied, College & Career Readiness Center. “It is important to provide resources that build on the basic life-management skills many young adults receive in school and at home. The addition of Starting Out reinforces our commitment to helping students and young adults make informed decisions regarding their career paths as they transition from one life stage to the next.”
With state-specific information in more than 80 life skills categories, each edition in the Starting Out! series offers a practical guide to decision-making for learners as they transition into a productive life and career. Topics include financial literacy, employment and careers, health and nutrition, civic responsibilities, conservation, housing and taxes, diet and nutrition, consumerism, and more.
USA, New York, NY
Telegraaf Media Group, publisher of Dutch newspaper de Telegraaf, is acquiring Amsterdam based social network Hyves.
The acquisition of Hyves is an important strategic step towards TMG’s stated aim of achieving a larger share of its profits from digital media. Hyves and TMG currently have a joint net monthly internet reach of over 8.5 million Dutch residents of 13 years and older. Furthermore, partnering with TMG’s print and radio brands willoffer new cross-media exploitation opportunities.
Hyves expects revenues of approximately €20 million in 2010 and has a workforce of around 140. Hyves management team will remain in place.
The Hyves acquisition is funded by TMG from its cash flows and is earnings per share enhancing. The acquisition is currently subject to advice from TMG’s Central Works Council.
The Netherlands, Amsterdam
Thomson Reuters has acquired Highline Financial, a financial information and analytics provider focused on the US banking sector. The acquisition supports Thomson Reuters strategy of providing timely, accurate and high quality information by expanding its offering to include differentiated financial content and analytics for the banking and capital markets sector.
Market dynamics are creating a strong need for deep data and analytics as the financial sector experiences a tremendous level of new regulatory oversight, post crisis performance monitoring, bank closures and overall industry consolidation. The combination of Thomson Reuters and Highline Financial will provide Thomson Reuters clients with access to Highline Financial’s comprehensive public company and regulatory database which comprises 20 years of historical data covering 20,000 financial institutions, with over 24,000 filed and calculated financial data points and ratios maintained in the system on a daily basis. Highline Financial clients will benefit from having access to the depth and breadth of Thomson Reuters global content, support and infrastructure. The information will be available on Thomson Reuters Eikon, Thomson Reuters recently launched next-generation desktop, in 2011.
“The recent turmoil in the markets makes access to financial data more important than ever to our clients,” said Neil Masterson, Global Head of Investment Banking, Thomson Reuters. “With the acquisition of Highline Financial, Thomson Reuters can provide the banking and capital markets sector with the financial industry-specific analytics they need to drive deal activity.”
“This acquisition will create a significantly larger financial information and analytics platform for Highline Financial by enabling the company to leverage Thomson Reuters global reach and expertise to better serve its clients,” said Terry Waters, President & CEO, Highline Financial. “Both companies are committed to providing the most timely, accurate and complete financial information available and the combination of the two creates an industry leader in this space.”
Highline Financial is a portfolio company of Spire Capital Partners.
Terms of the agreement were not disclosed.
USA, New York, NY
Related Articles
United Business Media has acquired Lead in Research (LIR), a boutique sales leads business on behalf of UBM Built Environment from its founder, Mark Hurley. The consideration will be satisfied by an initial cash payment of £1.15 million with a further deferred performance-related consideration of up to £300,000, payable at the end of 2010.
The acquisition of LIR is a complementary addition to UBM Built Environment’s existing Barbour ABI business, facilitating expansion beyond ABI’s construction leads offering into the post-construction lead supply market.
LIR uses planning applications and a wide range of other sources to compile detailed information on relocation, refurbishment and business expansion projects taking place across the UK. LIR’s analysis identifies businesses in likely imminent need of products and services relating to new, relocating and expanding operations. LIR’s subscription-based customers are principally providers of goods and services to commercial properties, with a focus on the furniture, telecoms and recruitment sectors. LIR also provides data to its customers via its website, weekly HTML bulletins and newsletters.
LIR employs five staff and in the financial year to May 2010 generated revenues of £0.4 million. The acquisition is anticipated to exceed UBM’s cost of capital criterion in its first full year of ownership.
Adrian Barrick, CEO of UBM Built Environment, said, “I am very pleased to announce this acquisition, which will enhance our current product offering and complement UBM Built Environment’s existing ABI business. We are pleased to have acquired a high quality product that we can use to respond to our clients’ requests for additional product offerings in post-construction lead supply, as well as helping us to attract new customers. We believe that LIR will provide further synergies – for example, with our Property Week brand – and generate strong revenue growth in the future”.
UK, London & Warwick
Related articles:
As part of the review of IPC Media’s niche and specialist titles, the company has sold Hi-Fi News to MyHobbyStore.
Published since 1956, Hi-Fi News delivers the latest news, analysis and opinions on new technologies, products and formats from hi-fi to home entertainment.
The deal sees MyHobbyStore acquire the brand – currently published within the IPC Inspire portfolio – with immediate effect. There will be no interruption to the publishing schedule of the title.
MyHobbyStore publishes some of the best known specialist hobby magazines in the UK, including titles such as RCM&E, Model Engineer, Model Boats and Good Woodworking. IPC Media announced the sale of Model Collector and Stamp Magazine to MyHobbyStore earlier this month.
IPC Inspire managing director Paul Williams says: “MyHobbyStore, with its passion for hobby brands, is the perfect new home for Hi-Fi News. As Hi-Fi News joins Stamp Magazine and Model Collector at MyHobbyStore I’d like to thank the team for all of their hard work, particularly over the course of the review process and acquisition negotiations. They have done a fantastic job and I wish them all the very best for the future.”
MyHobbyStore CEO Owen Davies adds: “Hi-Fi News is an outstanding magazine written for enthusiasts by enthusiasts. We are delighted to welcome the highly dedicated and experienced team to join our growing number of specialist titles.”
Staff transfer to MyHobbyStore with immediate effect.
UK, London
Related articles
Hart Energy Publishing, a leading provider of news, information and data to the global energy industry, has acquired Rextag Strategies, a mapping and GIS (geographic information system) database services company, in an all-cash deal. Both firms are privately held and terms of the transaction were not disclosed.
The Rextag acquisition adds to Hart Energy’s growing content portfolio with the addition of digital GIS databases and mapping services, custom digital cartography, pipeline flow and capacity data, energy infrastructure wall maps and reference books, all covering oil, gas, and other liquid pipeline operations throughout the United States
“Our staff brings years of experience with GIS (Geographic Information Systems) and in-depth industry knowledge to ensuring the latest, most up-to-date and comprehensive information available,” said Reinold (Rey) Tagle, Rextag’s founder. “Joining forces with Hart Energy will allow us to compete for larger projects and meet the expectation of the largest customers.”
Rich Eichler, CEO of Hart Energy, noted that, “The Rextag acquisition marks the establishment of our new Energy Mapping and Data Visualization Services division – with Rey Tagle serving as our division VP. It’s an important step in executing our strategy to bring more value-added information products and services to the industry.”
Rextag Strategies, based in San Diego, specializes in building GIS databases and producing highly accurate maps for oil and gas pipeline operations throughout the US. Rextag publishes the Interstate Natural Gas Infrastructure Map Book, a unique resource, and its mapping and data visualization capabilities can be applied worldwide.
USA, Houston, TX & San Diego, CA
Automotive marketplace and consumer information web site AutoTrader.com is acquiring Kelley Blue Book, the new- and used-vehicle information business. As part of the deal, AutoTrader.com will also acquire Kelley Blue Book’s sister companies CDMdata and CDM Dealer Services.
Details of the transaction are not being disclosed. Kelley Blue Book will operate as a subsidiary of AutoTrader.com and continue to be headquartered in Irvine, CA. The deal is expected to close by the end of the year. J.P. Morgan acted as Kelley Blue Book’s exclusive financial advisor through this process. Goldman, Sachs & Co. acted as financial advisor to AutoTrader.com.
“AutoTrader.com is excited about becoming the new owner of Kelley Blue Book because we believe the company has a great future,” said AutoTrader.com President and CEO, Chip Perry. “Kelley Blue Book has a wonderful history as an iconic brand and trusted provider of vehicle information to generations of car buyers and sellers, and as we look into the future we believe together we can bring a host of new technologies and tools to market that will significantly improve the car shopping process for consumers, and help auto dealers and manufacturers better capitalize on the fundamental efficiency advantages of the Internet.”
USA, Atlanta, GA & Irvine, CA
Related Articles:
Morningstar a leading provider of independent investment research, has entered into a definitive agreement to acquire the annuity intelligence business of Advanced Sales and Marketing Corp. (ASMC) based in Oakbrook Terrace, IL. Morningstar expects to complete the transaction in the next few weeks. The purchase price is $14.1 million, subject to post-closing adjustments.
The Annuity Intelligence Report (AI Report), one of ASMC’s two product lines, is a web-based service that helps broker-dealers, insurers, and the financial professionals they support better understand and more effectively present variable annuity products to their clients. The AI Report service leverages a proprietary database of more than 1,000 variable annuities that includes “plain-English” translations of complex but important information found in prospectuses and other public filings. AI Report’s simplified format helps to better ensure that investors understand what they are purchasing and that advisors are meeting suitability review requirements and properly structuring annuity contracts. The AI Report includes FINRA-reviewed single annuity and side-by-side comparison reports as well as annuity flow data, a contract and benefit selector tool, historical contract data, and optional subaccount data.
The annuity intelligence business serves 170 firms, including broker-dealers, banks, advisory firms, and insurance companies. More than 150,000 financial advisors have access to the AI Report through these firms.
ASMC also offers the MaxPlan wholesaler productivity system, a business planning and territory management tool for mutual fund and annuity distributors, which Morningstar is not acquiring.
“The Annuity Intelligence Report team has a deep knowledge of variable annuities, and offers a leading service that helps financial professionals provide better recommendations to their clients while avoiding the errors and liabilities that are quite common when selling and processing variable annuities,” said Chris Boruff, president of Morningstar’s software division. “By combining Morningstar’s strength in variable annuity subaccount data and modeling tools with AI Report’s product-level data, and proprietary methodologies, we believe we’re creating the best-of-breed offering for investors and financial advisors.”
“ASMC focuses on helping mutual fund companies, insurance carriers, and broker-dealers become more productive,” said Karen (Falat) Larson, president and founder of ASMC. “Morningstar’s large presence in the advisor channel and its history of investment research innovation will enable the annuity intelligence business to bring new ideas to market faster.”
After the acquisition is completed, the annuity intelligence business will become part of Morningstar’s advisor software unit. The company plans to keep the Annuity Intelligence Report product name for the foreseeable future and will market it under the Morningstar brand.
Kevin Loffredi, senior vice president and co-founder of ASMC, will continue to manage the annuity intelligence business. Morningstar expects to retain the majority of the business’s employees.
Karen Larson, president and founder, and ASMC’s chief executive officer, Perry Moore, will continue to run ASMC’s wholesaler productivity business under the new name MaxPlan Solutions, Inc.
City Securities Corp. acted as financial advisor to ASMC on this transaction.
USA, Chicargo, IL
Related DigiNet Articles
United Business Media has acquired Hors Antenne on behalf of its wholly-owned subsidiary PR Newswire to further strengthen its position as the global leader in corporate and investor targeting.
Founded in 1997, Hors Antenne is the leading provider of media targeting information to the European French-speaking markets. The acquisition consideration comprises an initial cash payment of €6m with a further performance-related element of up to €3m payable over the next two years.
Hors Antenne provides its clients with access to data on more than 500,000 opinion formers, including journalists and media organisations, bloggers, key political and financial stakeholders, analysts and business contacts in France and in French-speaking Belgium and Switzerland. The business’ client base numbers over 16,000 and includes 90% of the largest 1,000 companies in France.
Hors Antenne employs 45 staff at its Paris headquarters and generated revenues of €3.6m in the year to 31 March 2010. Hors Antenne’s management – including its founder and CEO Marylise Fortin – will remain with the business, which will continue to operate as a separate entity. The acquisition is anticipated to exceed UBM’s cost of capital criterion in its first full year of ownership.
In addition to adding profitable revenue to PR Newswire’s successful European targeting business, the acquisition will enhance and expand the range of targeting and monitoring services Hors Antenne is able to offer its customers.
Lisa Ashworth, CEO of PR Newswire Europe said:
“The acquisition of Hors Antenne strengthens our position globally as a leader in the targeting field but more specifically in both France and in European French-speaking markets. The combination of Hors Antenne’s services with our own capabilities significantly enriches our data product services and reach. This continues our vision to develop PR Newswire in Europe and beyond, both organically and through best of breed acquisitions.”
France, Paris
Related articles:
Fusion Corporate Partners 
You must be logged in to post a comment.