WPP to acquire minority stake in FlowNetwork in Sweden

March 10, 2015 — Fusion DigiNet

wppWPP is to acquire a minority stake in FlowNetwork, a Swedish broadcast content provider. FlowNetwork delivers its programmes via the internet and supplies Sweden’s regional newspapers with technology and content.

Newspapers served by FlowNetwork include Norrköpings tidningar, Folkbladet, Motala Vadstena Tidning, Norrländska Socialdemokraten, Östgöta Correspondenten, Norrbottens-Kuriren, Västervik-Tidningen, Hela Gotland and UNT. FlowNetwork is co-producer of the new Swedish drama series “Gåsmamman”.

The terms of the deal were not disclosed.

UK, London & Sweden

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Tribal Group acquires Callista Software Services 

March 9, 2015 — Fusion DigiNet

tribalTribal Group plc, a provider of software and services for education management, has acquired Callista Software Services Pty Ltd, a provider of student management systems to the Australian university market for AUD 3.4 million.

Callista, which is based in Geelong and Melbourne, Australia, provides its software to a quarter of all Australian universities.   Its unaudited revenue  for the year ended 31 December 2014 was AUD 15.9 million, and operating profit was AUD 1.6 million.   The value of gross assets at 31 December 2014 was AUD 14.1 million.  Tribal will pay a total consideration of AUD 3.6 million in cash in equal instalments over a three year period.

Keith Evans, Chief Executive of Tribal, commented: “This transaction continues Tribal’s development in Australia, and allows us swiftly to offer our proven university software capabilities to an increased number of new customers across Australia.  Following our acquisition of Sky Software and Human Edge in 2014, and our recently announced contract wins in Queensland and Tasmania, Tribal is now a leading student management software provider to each of the university, college and schools markets in Australia.“

UK, Bristol & Australia, Geelong, Victoria

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Haymarket Media acquires Group DCA

March 3, 2015 — Fusion DigiNet

haymarket_groupHaymarket Media, Inc. has acquired Group DCA—an interactive digital communications agency specialising in multi-channel engagement of health care providers—from PDI Inc. The terms of the deal were not disclosed. The Group DCA staff will relocate from Parsippany, NJ to Haymarket’s Paramus, NJ office.

The assets acquired include Group DCA’s proprietary DIAGRAM (DIAlog, GRAphics and Motion) Platform and The Medical Bag, a general interest website for health care professionals (www.themedicalbag.com), along with the staff to support the business. The website will continue to run as an independent platform that also supports e-detailing programs.

Ron Scalici, the first Group DCA employee to join the organization in 1999 and most recently Chief Innovations Officer at PDI, will oversee Group DCA’s day-to-day operations. Group DCA will operate within Haymarket’s custom medical communications division, PRI Healthcare Solutions (PRI HCS). Group DCA will retain its name, and its operations and services will remain intact.

“Adding Group DCA to our already robust digital offerings will position us strategically for continued leadership in health care communication,” said Haymarket CEO Lee Maniscalco. “Group DCA’s products naturally complement our own digital products and services, and our cultures of high-energy creativity and innovation are highly compatible and mutually reinforcing. It is a perfect strategic and cultural fit, one that will help to accelerate our growth.”

USA, New York

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Energy Assets Group acquires SA Gas Engineers

March 3, 2015 — Fusion DigiNet

Energy Assets GroupEnergy Assets Group plc, a provider of I&C gas metering services in the UK, has acquired SA Gas Engineers Limited, an accredited meter asset manager and a UK expert in complex I&C gas engineering and specialist siteworks projects. 

sa_gas_logoEstablished in 1992 and based in Nottingham, SA Gas provides services both upstream and downstream of the customer’s meter. The company has a wealth of experience and expertise in all types of I&C gas related engineering projects.  In the year to 31 July 2014 SA Gas generated turnover of £2.9m.

The transaction consideration comprises an initial cash payment of £3.4m, 222,108 shares in Energy Assets Group plc, with a market value of £1m, which are subject to the sellers of SA Gas remaining with the Group during a restrictive period of two years, an earnout consideration of up to £0.5m contingent on the future profitability of SA Gas and an amount for the completion cash balance of SA Gas which will be determined on the basis of completion accounts.  The cash consideration is also subject to post-completion adjustment by reference to the actual completion working capital of SA Gas.  Cash consideration will be funded from a combination of cash reserves and existing loan facilities.  

Phil Bellamy-Lee, Chief Executive of Energy Assets, commented: “Energy Assets has built a strong relationship with SA Gas over a number of years, working together on several major projects, and I am delighted to now welcome them fully into the Group in an acquisition that represents another significant step in our growth strategy.  The strong SA Gas brand and reputation, along with the wealth of acquired expertise, will complement our existing business resulting in further improvements to the service offering and value delivered to our customers.”

UK, Livingston, West Lothian & Nottingham, Nottinghamshire

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PCH acquires Fab

March 3, 2015 — Fusion DigiNet

pchPCH, a privately held Irish company which designs custom manufacturing solutions for startup companies and with USA headquarters in San Francisco, has acquired the ecommerce website Fab.com for an undisclosed amount of cash and equity.

Tech Crunch had reported that that Fab was selling to PCH for around $15 million. Fab had raised $165 million at a $1 billion valuation just over a year ago!

In recent months, Fab has undergone significant restructuring to bring costs in line with sales, to stabilize operations, and to grow its core audience of urban professionals and design enthusiasts.

FabAs part of the deal, 35 Fab employees – including engineers, merchants, graphic designers and marketers – will remain with the company. Fab founder and former CEO Jason Goldberg has stepped down as CEO and will not be involved with the business going forward. Renee Wong, general manager since May 2014, will continue to run day-to-day operations.

Key hires in merchandising and marketing will be added to supplement the experienced core team, and additional measures will be undertaken to grow the business and attract established and emerging designers. PCH will also explore forming a design advisory board and recruiting a creative director in residence.

“We are delighted to announce the acquisition of Fab,” said PCH Founder and CEO Liam Casey. “We love the brand, the customer experience, and the focus on lifestyle products. We see an opportunity to reinvigorate the Fab audience – keeping the current focus, and adding a variety of more distinct and exclusive goods from designers. And because Fab has a flexible and dynamic technology platform, we have a good foundation to test new selling modes that will excite customers.”

Ireland, Cork & USA, San Francisco, CA

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ULS Technology acquires Legal Eye

March 2, 2015 — Fusion DigiNet

legal-eye-logoULS Technology plc, a provider of online B2B platforms for the UK conveyancing and financial intermediary markets, has acquired Legal Eye Limited from Jaunita Gobby for an initial cash consideration of £1.1m, in addition to an agreed earn out, payable in cash, equal to two times EBITDA for the full years ending 31 March 2016 and 31 March 2017 respectively. ULS Technology expects the total consideration to be significantly below the maximum total consideration of £4.4m.

legal-eye-logoLegal Eye provides risk management and compliance consultancy services to the legal, financial and property sectors to ensure their clients comply with the regulatory framework in which they operate. 

Legal Eye Ltd was founded in May 2009 by Jaunita Gobby, who will maintain her day-to-day involvement in the business. LEL has been contracted by approximately 350 firms since May 2009 and has approximately 130 active clients, principally solicitors’, today.

The majority of LEL’s clients are on annual contracts, providing a high level of forward revenue visibility. For the 12 months ended 31 March 2014, LEL reported revenue growth of 54% to £563,729 and Profit Before Tax growth of 38% to £149,138 over the comparable period the previous year. As of 30 March 2014, Legal Eye had cash at bank of £317,776 and Net Assets of £238,108. There are no wholly owned premises or property leases.

Nigel Hoath, Chief Executive Officer, said, “As outlined at the time of its IPO, ULS has a clear strategy for growth in the UK, comprising both organic growth and acquisitions. The acquisition of Legal Eye is a very positive move for the Group and will help us accelerate our growth as Legal Eye has already earned a strong reputation in its sector. However, we believe there is a significant opportunity to accelerate its growth and we are excited about how we can help achieve this as part of the Group. ULS’ existing business will also benefit from the acquisition of Legal Eye by enabling us to place a stronger emphasis on quality and risk management as a central element of our eConveyancing value proposition.

UK, Thame, OX &

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St Ives acquires Solstice Consulting

March 1, 2015 — Fusion DigiNet

St Ives plcst ives, an international marketing services group, has acquired Solstice Consulting LLC, a Chicago-based digital consultancy specialising in mobile-first digital product design and engineering services.

Established in 2001 and trading under the name Solstice Mobile, the business employs approximately 200 staff across three offices in Chicago, New York and Buenos Aires. The company has a strong client base across Fortune 1000 businesses in the US, with particular strength in the financial services, manufacturing and distribution sectors.

In the financial year ended 31 December 2014, Solstice generated adjusted EBITDA of £2.7 million on revenue of £16.5 million; gross assets were £5.1 million.

St Ives has agreed to acquire Solstice, on a cash and debt free basis, for £24.7 million, to be satisfied by approximately £20 million in cash and approximately 2.6 million St Ives shares. Further consideration of up to £25.3 million may be payable (to be satisfied 80% in cash and 20% in shares) dependent on incremental profit performance for the years ending 31 December 2015, 2016 and 2017.

Solstice will operate as a subsidiary of St Ives and will continue to be managed from its current location by its existing management team, which includes J Schwan, the vendor.

Matt Armitage, Chief Executive of St Ives, commented:“This acquisition further strengthens St Ives’ reputation and capabilities in digital, and significantly extends these into mobile. Strategically, the deal supports the growth of the Group’s marketing services division, while expanding our presence and capabilities in the Americas.”

UK, London & USA, Chicago, IL

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Ebiquity acquires Media Value 

February 26, 2015 — Fusion DigiNet

ebiquityEbiquity plc has acquired Media Value SL in Spain.  MV has operated as Ebiquity’s franchise partner for media auditing in the Iberian market since approximately 2008 and has been operating under the Ebiquity name.

MV is being acquired for an initial cash consideration of €743,000. The maximum total consideration is up to €6m, payable in cash, depending on the performance of the MV business in the three financial years ending 30 April 2016. 

MV is being acquired from shareholders including its co-founder Mauricio Barange. Following completion of the Acquisition, Mr Barange will remain as Chief Executive of MV. 

MV comprises two divisions. The first is an independent media auditing and benchmarking business.  This business will be included in Ebiquity’s Media Value Measurement division. MV’s second business comprises an ROI/effectiveness practice, which will be included in Ebiquity’s Marketing Performance Optimization division. MV has offices in Madrid, Barcelona and Lisbon. 

MV’s unaudited revenue for the year ended 30 April 2014 was approximately €2.3m and it generated an operating profit before highlighted items of approximately €0.3m. MV had unaudited net assets of approximately €0.5m at 30 April 2014 and employs 32 people. 

Michael Greenlees, Chief Executive Officer of Ebiquity, said, “I am delighted that Mauricio Barange and his colleagues have now formally joined our growing business. MV has been operating under the Ebiquity name for some time and has played an important part in the European development of the Ebiquity group. The Iberian business has performed well and this acquisition marks another step in the development of Ebiquity’s leading position in marketing and media data analytics across Europe.“

UK, London & Spain, Madrid

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A Fusion Deal: UK Health IT exhibition EHealthLIVE sold to Informa PLC

February 26, 2015 — Fusion DigiNet

Informa plc recently purchased EHealth Media and their events: the EHI Awards and the EHI LIVEUK, London Conference and Exhibition at the NEC Birmingham. The UK team is based in London.

Fusion Corporate Partners acted as corporate advisor for EHealth Media. The Fusion team was led by Paul Slight, Director at Fusion. The terms of the deals were not disclosed.

E-Health Media organises high quality events for the UK healthcare IT community. Our expert team creates wide ranging events from small bespoke roundtable discussions up to the UK’s largest exhibition and conference, EHI Live at the NEC, Birmingham. We produce events with fresh, topic driven agendas, which bring together our key industry stakeholders. We create great environments in which our clinical, IT and ehealth professionals can meet up, network and learn and share best practice.

Informa Life Sciences lead the market in providing quality, expert-led conferences; delivering the expert knowledge our clients need to excel in their professional roles and guaranteeing a competitive advantage for their organisations.

As well as the UK IT Healthcare events, our diverse portfolio covers the pharmaceutical, medical devices and diagnostics, fine chemicals and agrochemicals and veterinary medicine sectors. Informa also operates the world’s second largest healthcare exhibition. Arab Health first ran in 1975 and has gone on to be a global must-attend event attracting 66,000 professionals from over 145 countries.

UK, London

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Bunzl acquires Quirumed in Spain and Jan-Mar Sales in Canada

February 23, 2015 — Fusion DigiNet

bunzl-logoBunzl plc, the international distribution and outsourcing Group, today announces that it has completed the acquisition of two further businesses in Spain and Canada.

quirumedThe Company has acquired Quirumed, S.L. in Spain.  Based in Valencia, Quirumed is principally engaged in the supply of healthcare related products and equipment to an international customer base consisting of medical centres, doctors’ surgeries and other end users throughout Spain and in other countries in Europe.  Revenue in the year ended 31 December 2014 was €18 million.

jan-marBunzl has also purchased Jan-Mar Sales Limited in Canada.  Based in Toronto, Jan-Mar is principally engaged in the sale of cleaning and hygiene supplies to distributors in the region.  Revenue in the year ended 31 January 2015 was C$12 million.

Commenting on the acquisitions, Michael Roney, Chief Executive of Bunzl, said:

“The acquisition of Quirumed is an important development for Bunzl as it takes us into the healthcare sector in Spain for the first time, having previously acquired businesses there in the cleaning and hygiene, safety and foodservice sectors.  The purchase of Jan-Mar complements our existing cleaning and hygiene business in Canada and strengthens our position in the Toronto region.

UK, London & Spain, Valencia & Canada, Toronto

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