Wilmington Group plc to acquire Axco Insurance Information Services for upto £22 million

September 28, 2010 — Fusion DigiNet

Wilmington Group plc is to acquire Axco Insurance Information Services Limited, the leading provider of international compliance and regulatory information for the global insurance industry.

AXCO provides comprehensive information on the markets, regulation and taxation environment for the insurance industry within 165 countries worldwide. AXCO’s customers include international insurers, reinsurers and brokers with a particular strength in North America. The business is based in London and employs 40 staff. 96% of AXCO’s customers are subscribers to products delivered electronically. Their renewal rate in recent years has been in excess of 95%.

The acquisition of AXCO has been effected by Wilmington’s wholly owned subsidiary Waterlow Legal & Regulatory Limited which has acquired 100% of the fully diluted share capital for an initial cash consideration of £21.325m and a deferred payment, capped at £675k, which will be calculated by reference to the net current assets of AXCO at 30th September 2010. Wilmington will fund the consideration from existing debt facilities. AXCO is expected to have approximately £2m of net cash at completion. The transaction is expected to be earnings enhancing in the current financial year.

During the year ended 31 December 2009, the period of the latest audited accounts, AXCO made statutory profits before interest and tax of £1.23m on turnover of £5.6m. Pro forma unaudited revenues and EBITDA for the twelve months to 30 June 2010 were £5.8m and £1.93m respectively. At 31 December 2009 AXCO had gross assets of £5.34m.

Charles Brady, CEO of Wilmington, commented, “AXCO is an information business of the highest quality and a clear international market leader. It provides its customers with ‘must have’ intelligence and has demonstrated an ability to maintain continued growth irrespective of the challenging environment in recent years. It is highly complementary to Pendragon, our pensions law and regulation information business, as well as to the compliance and regulatory training divisions within Wilmington. This acquisition is the latest step in our plan to build a world class, international, compliance and regulatory information and training business. We are confident of AXCO achieving enhanced growth within Wilmington.”

UK, London

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HousingWire to acquire distressed property events & publishing business REO Insider

September 19, 2010 — Fusion DigiNet

HousingWire to acquire REO Insider

HousingWire, a publication for mortgage investment, origination and servicing executives, is to acquire REO Insider, a trade journal focused on distressed real estate transactions. HousingWire will assume ongoing management of various conferences and research products tied to REO Insider, as well as other assets.

“The distressed real estate market, whether via REO or short sales, has never been more relevant to the overall economic picture than it is right now,” said HousingWire CEO Paul Jackson. “This acquisition will solidify HousingWire’s position as the only end-to-end news and information source that crosses the entire housing finance spectrum.”

REO Insider organized and hosted REO Expo 2010 in Dallas this past June, bringing more than 1,500 industry professionals together. The company also launched the Pinnacle Awards program, the REO industry’s first-ever peer-selected awards program, based upon a research product developed by the publication.

“We’re very much looking forward to hosting REO Expo in 2011, and will continue to build upon the success of the Pinnacle Awards to expand an offering of research products in the future,” said Richard Bitner, HousingWire president. “With the outlook for U.S. housing remaining highly volatile, we expect that the HousingWire media platform will be positioned through this acquisition to better meet the demands of a changing industry.”

The transaction is expected to close by October 1, 2010, with the newly-expanded HousingWire Magazine and HousingWire website debuting in November.

USA. Dallas, TX

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UBM agrees to acquire UM Paper for up to $880,000

September 16, 2010 — Fusion DigiNet

United Business Media Limited has agreed to acquire UM Paper, an information and analytical services business, from Samwell Group on behalf of RISI, UBM’s forestry and paper industry intelligence business for an initial cash consideration of $440,000 and a further performance-related consideration of up to $440,000 payable over the next two years. For regulatory reasons, the transaction will be implemented through a nominee on behalf of RISI and is subject to registration in the PRC. The transaction is expected to complete later this month.

Based in Shanghai and employing eleven staff, UM Paper provides its China-based customers with paper industry information and pricing intelligence, notably regional and historic pricing trends in paper commodities. UM Paper’s principal subscription newsletter is distributed to subscribers drawn from across the paper industry, including plant operators and converters (box and envelope makers, publishers, printers) and other professionals involved in the paper product markets. Samwell Group’s Chairlady Elaine Zhang will remain with the business as a senior advisor. The business is expected to generate revenues of approximately $300,000 in 2010.

In 2009 China became the world’s largest market for forest products and is expected to generate more than half the industry’s growth over the next 20 years. The acquisition of UM Paper is highly complementary to RISI’s existing presence in China, which is delivered by a team of 17 employees in Shanghai and Beijing. UM Paper expands RISI’s capabilities and products both on and for the China market, as well as providing an established sales and marketing network to bring RISI’s authoritative content, products and services to the Chinese market.

Mike Coffey, CEO of RISI, said:

“I am very pleased to welcome both the UM Paper team to RISI and also our new senior adviser Elaine Zhang as we look to develop our services in China. The combination of our two businesses offers terrific advantages to our customers: UM Paper customers gain access to a range of new RISI products and services, and we are able to enhance RISI’s existing product and service offering in both China and worldwide. Most importantly, UM Paper helps us toward fulfilling our ambition to become the leading information provider for the paper and board industry in China.”

China, Shanghai

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Scholastic acquires Math Solutions

September 13, 2010 — Fusion DigiNet

Scholastic, the global children’s publishing, education, and media company, has acquired Math Solutions, a leading authority on K-12 mathematics instruction, providing teachers with professional development services, publications and resources.  Founded by renowned mathematics educator and author, Marilyn Burns, Math Solutions has previously worked with Scholastic to create Do The Math, the award-winning math intervention program that gives students who have fallen behind the chance to catch up and keep up.  Terms of the transaction were not disclosed.

“Math Solutions leads the field in professional development services for math. They also publish award-winning books and resources and are developing a diagnostic mathematics assessment tool with funding from The Bill & Melinda Gates Foundation.  Joining the expertise of Marilyn Burns and the Math Solutions team with the experience and reach of Scholastic Education, we will provide comprehensive district-wide school improvement solutions in mathematics along with a robust suite of math intervention programs comparable to our highly successful offerings in reading and language arts,” commented Margery Mayer, President, Scholastic Education.

Marilyn Burns added, “Math Solutions and Scholastic have enjoyed a long-standing working relationship and this is an excellent opportunity to formalize our collaboration around our shared belief that all children can learn and that high quality teaching is the single most important factor for raising student achievement.”

USA, New York, NY

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David Montgomery forced out as chief executive of Mecom after pressure from shareholders

September 10, 2010 — Fusion DigiNet

Reuters are reporting that David Montgomery is being forced out as chief executive of Mecom after pressure from shareholders fed up with ongoing high debt levels and falling sales. Under Montgomery, Mecom made several acquisitions that it was later forced to sell, piling up debt in the process. Last May, investors participated in an emergency £140 million-pound rights issue to avert a debt crisis.

The announcement on the Mecom website reads:

David Montgomery, CEO, today announces his planned retirement from Mecom Group.

Mr Montgomery, the founder of the Group that has grown into one of Europe’s leading newspaper and content businesses, enjoys the complete confidence of the Board.

Nevertheless, following pressure from certain shareholders, he has decided to leave at the time of the Group’s pre-close trading statement next January.

In the meantime Mr Montgomery will continue to implement the Group’s existing strategy together with his team who all enjoy the absolute support and active encouragement of the Board.

Mr Montgomery said: ‘The business has weathered the recession well and is transforming into a broader content business with accelerating on-line revenues. This transformation process will continue for the rest of this year and beyond given the commitment and energy of all Mecom management and staff.’  

UK, London

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The Board will conduct a search process to find the person best qualified to succeed Mr Montgomery.

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Glam Media acquires German men’s online media company Fantastic Zero

September 10, 2010 — Fusion DigiNet

Glam Media Germany, has acquired Fantastic Zero, a leading German vertical media company for men online reaching 5.4 million unique users, from Holtzbrinck Digital GmbH and Publigroupe S.A. One year since the launch of the German men’s vertical, Brash.de, Glam Media is focused on expanding the Brash Media brand with the Fantastic Zero sites targeting men in key categories including lifestyle, sports, entertainment, gaming, and autos. Fantastic Zero Founder and CEO Aric Austin has been appointed “the man for men” at Glam Media Germany. Fantastic Zero, based in Berlin and Munich, will be integrated into Glam Media.

“Glam stands for significant reach with a high degree of engagement by women in Germany and around the world,” said Ralf Hirt, CEO of Glam Media Germany and VP International. “With Fantastic Zero and Brash, we can now further expand our reach with male audiences. More than ever, this means marketing solutions that cater to the strong demand from agencies for premium advertising environments that appeal to men and have significant reach at the same time. The team at Fantastic Zero has created a highly successful business model, which we will roll out in other European countries in the future.”

Fantastic Zero was established in August 2007 as the first vertical for men in Germany. The company has more than 50 partner sites including Cineastentreff, Comicgate, Gamenews, and Sport2 engage with men online. Categories across Fantastic Zero include movies, entertainment, comics, technology, hardware, and gaming.

“Glam Media is the logical next step in our development and simply a perfect fit,” said Aric Austin, founder and CEO of Fantastic Zero. “Together we will provide the vertical market with new ideas and innovations through Glam Media’s next generation technologies.”

“After the successful growth and startup work under the leadership of Holtzbrinck eLab, the deal with Glam Media will enable the next stage of expansion for Fantastic Zero,” said Markus Schunk, CFO of Digital and Managing Director of Holtzbrinck eLab.  “Congratulations to Aric Austin for his excellent management and building the company—together with Glam, Fantastic Zero will create a leader targeting male audiences.”

“After reaching number one for women, Glam Media is expanding to target men with the acquisition of Fantastic Zero,” said Dr. Marcel Reichart, Managing Director, DLD Media and DLD Ventures, and Member, Glam Media Board of Directors. “Glam Media now has even broader reach for its innovative technology and digital marketing solutions.”

Glam has an outstanding position in delivering efficient and effective solutions to brands and agencies in today’s complex digital advertising marketplace. Just a few weeks ago, Glam Media Germany launched the social media real-time application Tinker that connects both Twitter and Facebook audiences with more than 1,500 sites in the Glam and Brash verticals. In addition, Glam Media Germany recently launched GlamAdapt, the first alternative ad serving platform to DoubleClick, enabling brands to make a greater impact online.

Germany, Munich

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Metropolis acquires Packaging News and AV magazine, along with Motoringjobs.com from Haymarket

September 6, 2010 — Fusion DigiNet

Haymarket Media has completed the sale of two specialist business-to-business titles and a jobs website to the Metropolis International Group. The titles are Packaging News, AV (which covers the professional market for audio-visual products), and the website Motoringjobs.com

All editorial and sales staff who work on the titles will be moving to Metropolis’ Croydon office.

Kevin Costello, chief executive of Haymarket Media, said: “The sale of these titles is part of our move to concentrate on our core markets. I’m delighted they are moving to an up-and-coming publisher like Metropolis, where I know they will find a good home and they will continue to flourish.”

Jonathan Mills, chief executive of Metropolis, said: “We are very pleased to have acquired Packaging News, AV and Motoringjobs.com from Haymarket. This is our third acquisition in 2010 and these excellent, long standing businesses will form an important part of our growing Business Media Division.”

UK, London

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Emap has acquired The Energy Event

September 6, 2010 — Fusion DigiNet

Emap has acquired The Energy Event and its related magazines from Eamonn Brennan and Neil Western of Western Business Media.

From 2011, The Energy Event will run alongside the Recycling and Waste Management Exhibition (RWM) in halls 17-20 at the NEC.

Whilst the two shows will be marketed separately and each will retain their own identities and focus, the move of the Energy Event to the NEC next door to RWM will allow the event to benefit from the improved layout and facilities of purpose built exhibition halls as well as the relevant cross over audience from RWM.

“RWM and the Energy Event are a natural fit for co location. There is a growing appetite for waste-to-energy conversion as way of dealing with two major issues at once – waste management and sustainable energy. By bringing the waste and sustainable energy sectors together in this way we can help satisfy that appetite,” said Gerry Sherwood, RWM’s Event Director.

Eamonn Brennan will remain involved as a consultant and Steve Swaine and Tim McManan Smith will take up key roles on the project team.

“It is great news for the market that Emap has acquired the Energy Event. They are the natural purchaser and have a reputation for delivering events that are the focal point of the markets they serve. Their focus and resource will enable the event to move to the next stage in its development at the NEC. I will be working closely with the MD’s Alison Jackson and Paul Dunne and ED Gerry Sherwood to ensure a smooth transition” said Eamonn Brennan

MD Alison Jackson commented “We are delighted to welcome Eamonn, Steve and Tim to Emap. We have admired this event from afar after visiting several times. It is a quality, industry led event with great content and an essential diary date for anyone in the sector. Emap’s marketing and operational resource will ensure the event becomes even more important for decision makers in the energy sector as it develops in conjunction with market needs going forward”

UK, London

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Thomson Reuters acquires Healthcare Data Management

September 1, 2010 — Fusion DigiNet

Thomson Reuters has acquired Healthcare Data Management. Effective immediately, the company will become part of the Healthcare & Science business of Thomson Reuters. Financial terms of the transaction were not disclosed.

“Healthcare Data Management brings unmatched expertise in health benefits auditing and expense management reporting solutions,” said Jon Newpol, executive vice president at the Healthcare & Science business of Thomson Reuters. “Together, we’re poised to meet the increased demand for auditing and compliance due to the Sarbanes-Oxley Act, the healthcare reform law, and an overall focus on eliminating waste from the healthcare system.

“Healthcare Data Management’s primary solutions, BenefitsAudit and BenefitsWatch, will play a key role in expanding our current solutions for employer and government markets,” Newpol said. “As a result, our new Audit & Compliance offering will support both retrospective and ongoing assessments of claims data.”

Healthcare Data Management was a pioneer in the establishment of modeling employee health benefit plans and using data-driven metrics to monitor plan performance. The company is currently one of the leading independent resources for maximizing the value and accountability of self-insured health benefit plans that are managed by plan administrators and pharmacy benefit managers.

USA, Ann Arbor, MI

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PennWell acquires Fire Apparatus Magazine

August 21, 2010 — Fusion DigiNet

PennWell Corporation, a diversified global media and information company, has acquired Fire Apparatus & Emergency Equipment magazine and the website FireMagazine.com.  Financial terms of the sale were not disclosed.

Fire Apparatus & Emergency Equipment, founded in 1996 in Tunbridge, Vermont by C. Peter and Kathryn Jorgensen under the company name Fire Apparatus, LLC, is a leading source of information about fire apparatus-related products. Published monthly for a North American readership of 35,000, Fire Apparatus & Emergency Equipment caters to fire chiefs, purchasing and finance committees, trustees, commissioners and other fire professionals who buy trucks, tools, turnout gear and firefighting equipment. They read Fire Apparatus and the monthly Fire Apparatus eNewsletter for news and insight to make well-informed buying decisions.

PennWell President and Chief Executive Officer Robert F. Biolchini said, “PennWell is pleased to expand our fire portfolio with this outstanding publication and website, which provides us a vertical extension focused on equipment and apparatus.  Since 1996 Kathryn Jorgensen and her late husband Peter Jorgensen have built their company based on editorial excellence and a strong industry reputation.  Fire Apparatus offers a perfect fit with PennWell as we celebrate our own centennial anniversary this year.”

Fire Apparatus, LLC President Kathryn Jorgensen will assist with the transition and expressed her confidence in PennWell as the best home for the future growth of the publication and website. “My goal in selling Fire Apparatus was to find a publisher who would continue and strengthen the magazine that my husband founded.  I am very pleased that PennWell, which has an excellent reputation in the fire service and in providing information to multiple global markets, will do that,” she said.

PennWell will manage the business from its headquarters in Tulsa under Lyle Hoyt, senior vice president responsible for PennWell’s Dental and Fire Groups. Current Fire Apparatus publisher and sales manager Bob Kelly and editor-in-chief Lyn Bixby will continue in those roles under PennWell.

USA, Tulsa, UK

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