Wolters Kluwer completes sale of its pharma-related marketing & publishing services business to Springer Science+Business Media

December 23, 2011 — Fusion DigiNet

Wolters Kluwer has completed the sale of its pharma-related Marketing & Publishing Services business to Springer Science+Business Media. The sale is part of Wolters Kluwer’s strategy to focus on core health markets through its Wolters Kluwer Health & Pharma Solutions division.

“The sale of our pharma-related business will allow us to focus future investments in our core healthcare business in key growth areas such as point of care,” said Nancy McKinstry, CEO and Chairman of the Executive Board of Wolters Kluwer. “We are committed to continued investments in innovative solutions that help clinicians around the globe access critical information to improve healthcare.”

The agreement encompasses the Marketing & Publishing Services business unit, part of the Wolters Kluwer Health & Pharma Solutions division. Marketing & Publishing Services is a leading global provider of strategic marketing, publishing, and business intelligence products and services to the pharmaceutical industry as well as to medical libraries and academic and research institutions. The sale represents approximately 35% of the company’s pharma-related assets in terms of revenue, with Adis and inScience Communications as the leading brands, and encompasses approximately 450 employees globally.

The intention to divest the Pharma Solutions business was announced in July 2011. The proceeds from this divestment are expected to be used for general corporate purposes including the reduction of debt levels in line with the company’s stated objectives and investments in the business. Terms of the deal were not disclosed.

Netherlands, Alphen Aan Den Rijn

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Pearson to sell 50% stake in FTSE to the London Stock Exchange for £450 million

December 15, 2011 — Fusion DigiNet

Pearson has agreed to sell its 50% stake in FTSE International Limited to the London Stock Exchange Group for £450 million in cash.

FTSE is a world-leader in the creation and management of more than 200,000 equity, bond and alternative asset class indices. With offices in London, Frankfurt, Hong Kong, Beijing, Shanghai, Madrid, Milan, Mumbai, Paris, New York, San Francisco, Sydney and Tokyo, FTSE works with partners and clients in 80 countries worldwide.

Marjorie Scardino, Pearson’s chief executive, said: “FTSE is a bellwether of global financial markets and a world-class business. We have enjoyed supporting the company’s excellent and highly professional team to build the business. Proud as we are of that long association, FTSE’s strategy is different from our own. We wish it every success as we continue to build our digital business information services around the Financial Times.”

Pearson and London Stock Exchange Group currently each own 50% of FTSE. Under the terms of the agreement, London Stock Exchange Group will acquire from Pearson the 50% of FTSE that it does not own and continue to use the FTSE name. The transaction is expected to close by the first quarter of 2012.

In 2010, FTSE reported total revenues of £98.5 million and total EBITDA of £40 million. At 31 December 2010, FTSE had gross assets of £100.8m.

Pearson expects FTSE to make a total post-tax contribution to Pearson’s adjusted earnings of approximately £18 million or 2.2p per share in 2011.

The transaction follows the sale of Pearson’s stake in Interactive Data last year for $2bn. It marks Pearson’s exit from companies that are primarily providers of financial data and strengthens the FT Group’s focus on global business news, analysis and intelligence, increasingly delivered through subscription models and digital channels.

Pearson intends to use the proceeds of the sale to support and accelerate its strategy, investing in its businesses both organically and through acquisitions of companies with complementary content, technology and geographic exposure. In recent years Pearson’s organic investments have enabled it to gain share in many of its markets. The company has also made a series of bolt-on acquisitions (including vocational training companies in the UK, global business intelligence through Mergermarket, universities in South Africa, online learning businesses in North America, language schools in China and school systems in Brazil) which have rapidly enhanced Pearson’s earnings and return on invested capital.

UK, London

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MITIE acquires access and disability consultancy Direct Enquiries

December 8, 2011 — Fusion DigiNet

MITIE, the strategic outsourcing and energy services company, has acquired a majority stake in access and disability consultancy company Direct Enquiries Holdings Ltd.

Direct Enquiries provides a range of services to major companies and public sector organisations, allowing them to minimise their risk and maximise the benefits of embracing equality.   Direct Enquiries provides Part M and BS 8300 audits around access for disabled people, supported by compliance reviews covering fire risk and health and safety.

The company also operates free to use online directories, Directenquiries.com, Inclusivebritain.com and Inclusivelondon.com – the Mayor of London’s official information portal for the 2012 games and its legacy. These sites provide access information for people with specific access requirements such as disabled and older people and parents with children.

The acquisition provides a strong platform for growth in the compliance, risk assessment, disability and access industries, as well as providing significant cross-selling opportunities within MITIE’s existing service offering.

Direct Enquiries has an annual turnover of approximately £1.4m from a wide range of public and blue chip private sector clients, including John Lewis, Birmingham Children’s Hospital, Intercontinental Hotels Group and the Metropolitan Police. The initial consideration is £0.3m, paid in cash on completion, with further consideration payable in cash up to a maximum of £8.3m depending on financial performance over a five year period.

MITIE’s investment has been financed through its Entrepreneurs Fund and provides the management team with an incentive linked to future performance based on the MITIE model.  More information on MITIE’s Entrepreneurs Fund can be found at http://www.mitie.com/entrepreneurs.

Ruby McGregor-Smith, Chief Executive, MITIE Group PLC, commenting on the acquisition, said: “We are all delighted to have acquired a majority shareholding in Direct Enquiries through our Entrepreneurs Fund. This acquisition demonstrates our continued commitment to and interest in disadvantaged groups, whilst recognising the increasing importance of building compliance legislation and risk management to our clients.”

UK, Bristol & Bracknell, Berkshire

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Publicis Groupe acquires Gomye

December 7, 2011 — Fusion DigiNet

Publicis Groupe has acquired 100% of Gomye, a full service digital agency providing integrated and interactive marketing services, with offices in Beijing as well as Chengdu and Chongqing, two rapidly growing major cities in western China. Gomye will be rebranded to become Publicis Modem Beijing (the digital arm of Publicis Worldwide in Beijing) and Publicis Modem Chengdu. The agency’s 51 staff members will be folded into Publicis’ local team. Its CEO, Alan Yang, will become Managing Director of Publicis Modem Beijing and Publicis Modem Chengdu, and will report to the CEO of Publicis Beijing.

Coupled with the acquisition of Shanghai agency Wangfan earlier this month, the acquisition of Gomye, which remains subject to the approval of the relevant authorities, further emphasizes Publicis Worldwide’s strong commitment to building leading digital capabilities across China.

Founded in 2003, Gomye’s superior digital expertise, coupled with its leading position in Chengdu and Chongqing, ideally place the agency to benefit from the strong growth potential of China’s most important western cities. Following a period of investment in the coastal metropolises of Beijing, Shanghai and Guangzhou, China’s 2011-2016 Five Year Plan, approved inMarch 2011, gives priority focus to developing the country’s vast interior. Chengdu – the capital city of Sichuan province — and its sister city Chongqing are among the economic, transportation and communications hubs designated for massive investment and rapid growth. Gomye’s clients includes Vanke Real Estate (China’s largest residential developer), movie and media company Huayi Brothers Media Group, liquor company Wuliangye Yibin, China Mobile and China Telecom.

This is the latest in a series of China agency acquisitions for Publicis Groupe that includes Wangfan (November 2011), Genedigi (June 2011), Dreams (May 2011), Interactive Communications Ltd (February 2011), and Eastwei Relations (November 2010).

“Acquiring Gomye is a particularly important move for us. It not only further strengthens our digital capabilities in Beijing but also gives us the critical ability to offer our clients significant digital expertise in the booming cities of Chengdu and Chongqing” commented Jean-Yves Naouri, Publicis Groupe COO and Chairman of China Publicis Groupe.

France, Paris & China, Beijing

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Mecom sells its media business in Norway to A-pressen AS

December 6, 2011 — Fusion DigiNet

Mecom Group plc has agreed the sale of Mecom Europe AS, which is the holding company for Edda Media AS, Mecom’s media business in Norway to A-pressen AS for an enterprise value of NOK1,725 million (€222 million).

The enterprise value of NOK1,725 million (€222 million) represents 7.9 times Edda Media’s FY 2010 EBITDA and 7.2 times Edda Media’s FY 2011 consensus EBITDA.  This is a significant premium to Mecom’s corresponding trading multiples.

After adjusting for certain minority interest, net debt and working capital items, the effective proceeds to Mecom for the Mecom Europe shares are expected to be approximately NOK1,800 million (€231 million) of which approximately NOK300 million (€39 million) will be represented by cash in Edda Media.

Edda operates 33 newspaper and websites. Its half-year revenue and profit have grown this year, with circulations down only one percent.

Tom Toumazis, Chief Executive of Mecom, said, “The sale of Edda Media is at an attractive valuation.  It will allow Edda Media to benefit from consolidation in the Norwegian media market and crystallise substantial value for Mecom shareholders.  In addition and importantly, I am delighted to say that we have agreed with A-pressen that we will continue to operate Sweetdeal together in Norway.  We have also agreed that we plan to explore opportunities for co-investing in and exploiting digital product development.  This alliance will benefit both companies and maintain links with the great team at Edda Media. The sale will of course materially improve our balance sheet.  It will allow us to consider, in due course and subject to a refinancing, an enhancement to the Company’s cash returns to shareholders, to focus on our future strategy and to invest to improve profitability in the remainder of the Group.”

Thor Gjermund Eriksen, Chief Executive of A-pressen, said: “A-pressen and Edda Media are a perfect fit for future success.  The acquisition will strengthen both A-pressen and Edda Media in today’s challenging media market.  Together with Edda Media, A-pressen becomes a solid media group with strengthened financials for joint development.  The reinforcement is crucial for the long-term commitment to develop and build the Norwegian media industry.  A-pressen has long and proud traditions to protect publishing values and editorial freedom.  Edda Media’s traditions, fundamentals and editorial independence will of course be respected and retained.”

Norway, Oslo & UK, London

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Hubert Burda Media UK completes the purchase of Wedding and Wedding Flowers magazines from IPC

November 30, 2011 — Fusion DigiNet

Hubert Burda Media UK has complete the purchase of Wedding and Wedding Flowers magazines from IPC.

Wedding is an inspirational glossy for brides-to-be. Wedding Flowers is a UK consumer magazine devoted to big day blooms, providing ideas alongside practical and expert advice. 

Hubert Burda Media UK publishes a number of consumer and b2b titles, including Love it!, Full House!, Your Home, Essential Kitchen Bathroom Bedroom Magazine and Essential Kitchen & Bathroom Business.

Luke Patten, CEO of Hubert Burda Media UK, says: ‘We are delighted to add Wedding and Wedding Flowers to our portfolio, and look forward to welcoming the entire team to our High Holborn office. Laying claim to 25 successful years already, both titles will be receiving significant investment in order to improve and expand the brands even further.’ Staff transfer to Burda with immediate effect. There will be no interruption to the publishing schedule of the titles.

UK, Essex

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MyHeritage acquires FamilyLink.com and WorldVitalRecords.com to Enter US Market

November 22, 2011 — Fusion DigiNet

MyHeritage has acquired FamilyLink.com, maker of the family history content sites FamilyLink.com and WorldVitalRecords.com. This is MyHeritage’s seventh and largest acquisition since 2007. The purchase marks a significant move into the US market commercially and operationally, and will boost MyHeritage’s offering to families with the addition of a vast database of several billion historical records. With offices and staff in Europe, Australia and Israel, MyHeritage will now be adding its first US-based office in Utah.

“We are delighted to join forces with the talented FamilyLink team in Provo to deliver meaningful value to families across the world,” says MyHeritage CEO and Founder Gilad Japhet. “Combining close to one billion family tree profiles on MyHeritage with FamilyLink’s massive library of historical data delivers a perfect one-stop-shop for families looking to discover and share their family history”.

Founded in 2006, both FamilyLink.com and WorldVitalRecords.com are subscription services which provide access to a database of historical content, covering several billion individuals within census, birth, marriage and death records, as well as the web’s largest archive of historical newspapers.

This is the latest in a series of purchases by MyHeritage since 2007 which have included Pearl Street Software, makers of GenCircles.com and the Family Tree Legends software; free family tree backup service BackupMyTree.com; European family social network market leader OSN (Verwandt) GmbH; Dutch family network ZOOOF; British family network Kindo.com and Polish family network Bliscy.pl.

The majority of the FamilyLink.com employees will join MyHeritage, based out of the company’s new US office in Provo, Utah. The CEO of FamilyLink.com, Paul Brockbank will support the transition over the coming months and will later join the MyHeritage advisory board. FamilyLink.com founder Paul Allen will not be part of the merger with MyHeritage.

In the short-term, MyHeritage will continue to operate the two sites FamilyLink.com and WorldVitalRecords.com, with the intention of achieving full integration within MyHeritage in 2012.

USA, Provo, UT & UK, London & Israel, Tel Aviv

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The world’s richest man buys 3.2 pct stake in Spain’s Prisa

November 19, 2011 — Fusion DigiNet

Carlos Slim, the world’s richest man, has bought a 3.2 percent stake in Promotora de Informaciones SA (Prisa), Spain’s largest media company whose shares have slumped by about 50 percent this year.

The purchase of 14.7 million shares of Prisa was made through Slim’s investment arm Inmobiliaria Carso SA, according to an exchange filing made in Spain on Friday. The statement did not specify how much Slim paid.

Based on the price of Prisa shares at Thursday’s close, the stake would have been worth 11 million euros. The shares jumped 12 percent on Friday to 0.84 euros, helped by the news of Slim’s investment.

Prisa’s business spans radio and TV assets in Spain and Latin America, as well as Spain’s best-selling newspaper El Pais. The company is trying to shed assets and cut its debt after borrowings topped 4 billion euros in 2010.

Slim is the chairman and chief executive of telecommunications companies Telmex and América Móvil and has extensive holdings in other Mexican companies. As of early October, Slim held 8.1 percent of Class A shares of New York Times.

Mexico, Mexico City & Spain, Madrid

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Vivendi and Universal Music Group to acquire EMI Music

November 19, 2011 — Fusion DigiNet

Vivendi and its subsidiary, Universal Music Group have agreed to purchase EMI’s recorded music division from Citigroup for a total consideration of £1.2 billion representing 7 x EBITDA prior to synergies.

EMI Group is one of the world’s most prominent music companies. Its recorded music division, EMI Music, operates around the world and represents artists spanning all musical tastes and genres through record labels including Angel, Astralwerks, Blue Note, Capitol, Capitol Latin, Capitol Records Nashville, EMI Classics, EMI CMG, EMI Records, EMI Records Nashville, Manhattan, Parlophone, Virgin Classics and Virgin Records.

Jean-Bernard Lévy, CEO of Vivendi, stated: “We are very proud to welcome EMI into the Vivendi family. We all respect the labels within EMI as well as the artists and employees who contribute to its success. They will find within our Group a safe, long-term home, headquartered in Europe.” He then added: “We plan to acquire EMI’s recorded music division on attractive terms, adhering to our principle of total financial discipline. We are confident that we will be able to create additional value for our shareholders thanks to our knowledge of the industry and our proven track record of successful integration. Lucian Grainge’s personal experience and heritage will be a major asset in making the combined entity a great success.”

Lucian Grainge, Chairman & CEO of Universal Music Group, added: “This is a historic acquisition for UMG and an important step in preserving the legacy of EMI Music. For me, as an Englishman, EMI was the preeminent music company that I grew up with. Its artists and their music provided the soundtrack to my teenage years. Therefore, UMG is committed to both preserving EMI’s cultural heritage and artistic diversity and also investing in its artists and people to grow the company’s assets for the future. As a result, we will be better positioned to fully capitalise on the many new and exciting opportunities in the current marketplace, and also able to better serve our artists, songwriters and business partners, while offering fans even more choice.”

Vivendi will finance the transaction from its existing credit lines. Concurrently, Vivendi and UMG will also sell 500 million euros worth of non-core UMG assets.

Vivendi and UMG have been advised by Allen & Co. and SJ Berwin on this transaction. Citi Global Banking acted as financial advisor to Citi and EMI. Clifford Chance LLP, Shearman & Sterling LLP and Freshfields Bruckhaus Deringer LLP acted as legal advisors to Citi and EMI.

UK, London & France, Paris & USA, New York, NY

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Skimlinks Raises $4.5 Million Series B Round

November 11, 2011 — Fusion DigiNet

Skimlinks, an in-text monetization platform for Web publishers, has raised $4.5 million in Series B funding. Led by Bertelsmann Digital Media Investments (BDMI), the new investment will help continue Skimlinks’ growth in existing and new vertical markets within the United States and around the globe. It will also finance product research and development.

The new funding round continues Skimlinks’ strong investor momentum, bringing its total investments to $7.5 million to-date. In addition to BDMI, new investors 500startups and Venrex Investment Management and existing investors – Sussex Place Ventures, The Accelerator Group, and NESTA (National Endowment for Science, Technology and the Arts) – also contributed to the latest funding round.

“We chose BDMI to lead this round because of its stellar experience in both online publishing and advertising,” said Alicia Navarro, CEO of Skimlinks. “We’re delighted that all of our investors continue to believe in the value Skimlinks delivers, and we look forward to using this investment to continue our rapid expansion throughout Europe and the United States.”

“We are excited to be investing in Skimlinks. The team is energetic and inventive, and the space is open for technical innovation,” said Urs Cete, managing director of BDMI, who will be joining the Skimlinks Board.

USA, San Francisco, CA & UK, London

 

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