Moneysupermarket.com’s acquisition of MoneySavingExpert is expected to complete tomorrow

September 20, 2012 — Fusion DigiNet

Update on September 21, 2012: Moneysupermarket.com Group PLC has confirmed the completion today of the acquisition of MoneySavingExpert.

Moneysupermarket.com Group PLC has confirmed the satisfactory completion of the UK merger control process in respect of its proposed acquisition of MoneySavingExpert.

The two principal conditions for completion of the Acquisition have now been met. The Company expects the Acquisition to complete on 21 September 2012.

UK, Ewloe, Wales

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Essence Digital acquires Black Bag Advertising

September 18, 2012 — Fusion DigiNet

London and New york based digital agency Essence Digital has acquired San Francisco-based media agency Black Bag Advertising. Terms of the deal were not disclosed.

“Expansion in the U.S. is critical to our growth strategy and we expect this acquisition to be the first of a number,” said Matt Isaacs, Chief Executive Officer of Essence Digital. “The fit between Essence Digital and Black Bag Advertising is perfect; we share the same insight and innovation-driven approach to client work, as well as the same cultural ethos. We are excited about what our combined skills and experience will enable us to achieve in the future.”

Black Bag Advertising is an analytics and results driven media agency co-founded in 2004 by Eric Yang to provide media strategy, planning and buying, campaign management and analysis to clients in the automotive, banking, insurance, retail, and consumer packaged goods industries.

 USA, New York, NY & San Francisco, CA & UK, London
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Nine Entertainment Co. is to sell ACP Magazines Ltd to Bauer Media Group

September 18, 2012 — Fusion DigiNet

Nine Entertainment Co. is to sell ACP Magazines Ltd to Bauer Media Group. The sale is expected to close in the next four to eight weeks. Terms of the deal were not disclosed.

ACP, which was established in 1933, is Australia and New Zealand’s largest magazine publisher, reaching over 15 million Australians each year. With leading magazine titles in almost every category, ACP’s major brands include The Australian Women’s Weekly, Woman’s Day, Cleo, Take 5, TV Week, Australian House & Garden, Gourmet Traveller and Zoo. ACP also operates a highly successful Trader and Custom business.

“The decision to sell the magazine business is not one we have made lightly. On balance however, the sale provides NEC with an attractive all cash valuation and ACP with the benefits of being part of a global publisher organisation. This sale will also allow us to focus on our core television and growing digital and events businesses.” said David Gyngell, Chief Executive Officer of NEC.

“We are delighted to welcome ACP as a member of the Bauer Media Group”, said publisher and owner Yvonne Bauer, “ACP fits our strategy of developing the Bauer Media Group globally, we believe in print, and ACP´s strong brands in Australia and New Zealand are perfect platforms to expand into digital areas.”

The impact of the sale on the operations of both NEC and ACP is expected to be minimal. Post completion, NEC and ACP will continue to work closely together in a number of areas including go to market strategies under the NEC operated “Powered” cross platform unit. Powered will continue to deliver ideas and insights utilising the breadth of media that the combined strength of NEC and ACP bring.

Matthew Stanton, CEO of ACP commented “Being part of the Bauer Media Group provides ACP with a positive and clear future, under an owner who is focussed on magazines and who will support investment and growth in our business. This outcome provides a commitment for the long term for both our brands and our people.”

About Nine Entertainment Co.Nine Entertainment Co. (NEC) is Australia’s most diversified media and entertainment group, a communication powerhouse delivering a world of media information and entertainment to millions of Australians. It’s assets include the Nine Network Australia, NBN Television, Australian News Channel, ACP Magazines, a 50% interest in Mi9, and entertainment entities, Ticketek and the Allphones Arena. Nine Entertainment Co. is owned by CVC Asia Pacific Limited.

Germany, Hamburg & Australia, Sydney & New Zealand, Auckland

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Wilmington Group reports full year results for the year ended 30 June 2012

September 18, 2012 — Fusion DigiNet

Wilmington Group plc, the professional information and training group, has announced its results for the year ended 30 June 2012.

Highlights

  • Adjusted EBITA increased by 10.2% to £16.5m (2011: £14.9m)
  • Adjusted EBITA margins improved to 19.3% (2011:17.8%)
  • Adjusted Profit before Tax up 4.6% to £14.0 million (2011: £13.4 million) on revenues up 1.8% to £85.3m (2011: £83.8m): statutory profit before tax increased by 4.1% to £6.3m
  • Publishing & Information revenues from the higher margin online/digital business have increased to 76% (2011: 72%), with print decreasing to 11% (2011: 16%)
  • Continued strong cash generation, with 109% (2011: 111%) cash conversion of operating profit
  • Net debt £3.8m lower at £36.2m (2011: £40.0m)
  • Planned sale of surplus freehold property
  • Exited contract directory publishing
  • Proposed final dividend of 3.5 pence per share, making a full year maintained dividend of 7.0 pence per share

Mark Asplin, Chairman, commented: “As part of our transition to a higher margin better quality business, a number of major operational challenges have been successfully addressed during the year.  The result is a more streamlined, focussed and profitable business.

The legal training business is now more profitable and in better shape than it was twelve months ago, although market conditions affecting our client base remain difficult.  The phasing out of legacy publishing products will continue during the current year as the Group continues to invest in subscription based digital products and migrates its business away from print directories and services in which it does not own intellectual property. We expect the remainder of our core businesses to continue to show growth. We are also pleased with the progress we are making towards achieving our medium term financial targets.”

Full details of the results and an investors presentation are available here.

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Wolters Kluwer Tax & Accounting acquires the assets of BSI, a provider of international tax, legal, business and investment information

September 14, 2012 — Fusion DigiNet

Wolters Kluwer Tax & Accounting has acquired the assets of BSI, a provider of timely international tax, legal, business and investment information. BSI was founded in 1992 with headquarters in Hastings, U.K. The company will remain in the U.K. Terms of the acquisition were not disclosed. BSI will become part of CCH, a Wolters Kluwer business.

“Keeping current with complex and changing tax law is a challenge faced by professionals today across the globe, and with the addition of BSI’s premier content and coverage to CCH and Wolters Kluwer, we’re now uniquely able to help our customers overcome that challenge,” said Wolters Kluwer Tax & Accounting CEO Kevin Robert. “The best just got better. And, we’ll continue to invest in expanding our international corporate tax solutions to help professionals around the world.”

CCH will continue to deliver BSI’s services as distinct offerings under the CCH brand name. CCH also plans to enhance current BSI offerings, creating new products and building out integration between CCH and BSI content. BSI has been a Wolters Kluwer business partner since 2008.

USA, Riverwoods, IL & UK, Hastings, East Sussex

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DMGT sells remaining interest in DMG Radio Australia

September 5, 2012 — Fusion DigiNet

DMGT has sold its remaining 50% in DMG Radio Australia (DMGRA) to Illyria, the private investment vehicle of Mr Lachlan Murdoch, which first acquired a 50% interest in November 2009.

DMGT has received A$100m (£65 m) in cash and, later in the year, will receive a further sum equivalent to 50% of the final DMGRA dividend for the year ending 30 September, 2012. DMGT will use the proceeds of the sale to reduce debt.

Martin Morgan, Chief Executive of DMGT, said: “Our partnership with Illyria over three years has been a success. Following an approach from Illyria, we decided now was an appropriate time to realise the value created by DMGRA’s improved performance. The transaction represents another step forward for our strategy to concentrate resources on a more focused portfolio of businesses”.

UK, London & Australia, Sydney, Pyrmont

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Aegis acquires C2 in India

August 23, 2012 — Fusion DigiNet

Aegis Group plc, the media and digital communications group,  has entered into an agreement to acquire Communicate 2 (“C2”), a performance marketing and search agency in India. C2’s gross assets as at 31 March 2012 were INR 129.9 million (£1.5) million.

C2 is a specialist performance marketing agency which focuses on search engine optimisation, search engine marketing, contextual advertising, search strategies around social media and lead generation. Originally established in 1997, C2 has built a strong client list of both local corporates, including Tata Consultancy Services, Cleartrip, ICICI Lombard and HDFC Bank, and international businesses, including Travelocity, Aviva Insurance and American Express.  C2 has offices in Mumbai, Delhi and Pune and employs over 130 employees.

C2 will be merged into iProspect India’s existing operations, strengthening its network in key cities across India and providing additional service capabilities for its clients.

UK, London &  India (Mumbai, Delhi and Pune)

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Revenue and profit fall at Haynes

August 23, 2012 — Fusion DigiNet

Haynes Publishing Group P.L.C has announced reduced revenue and profit in its preliminary unaudited results for the full financial year to May 2012.

  • Group revenue down 9% at £29.8 million (2011: £32.7 million)
  • Group operating profit of £5.1 million (2011: £7.7 million)
  • Group profit before tax of £4.7 million (2011: £7.2 million)

The Haynes Group comprises two geographical business segments UK & Europe and North America & Australia.

The UK & European business has headquarters in Somerset, UK and subsidiaries in the Netherlands, Italy, Spain, Romania and Sweden. The core business of the European operations is the publication and supply of automotive repair and technical information to the professional automotive markets as well as to the DIY aftermarkets in both a printed and digital format.

The North American & Australian business has headquarters near Los Angeles, California and publishes DIY repair manuals for cars and motorcycles in both a printed and digital format.

Read the full announcement here

 

UK, Somerset & USA, Los Angeles, CA

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CRU Group acquires Ryan’s Notes

August 22, 2012 — Fusion DigiNet

CRU Group, the global metals, mining and fertilizer analysis, consultancy and conference business, has acquired Ryan’s Notes. Terms of the deal were not disclosed.

Ryan’s Notes comprises the Ryan’s Notes news and price assessments newsletter, which is also available online, and three conferences: the Ryan’s Notes Ferroalloys Conference, the Ryan’s Notes Metallics Meeting and the recently launched Ryan’s Notes European Ferroalloys Conference.

Ryan’s Notes was established in 1995 and is headquartered in Pelham, NY. Both of Ryan’s Notes’ founders, Patrick Ryan and Alice Agoos, will continue working on the newsletter and the conferences as part of the expanded CRU Group.

Patrick Ryan said: “After more than 17 years creating, growing and developing Ryan’s Notes, I am delighted that we have found a new home with CRU. Both Alice and I are also pleased that we will continue to work on the newsletter and conferences with CRU into the future.”

CRU Chairman Robert Perlman said: “This acquisition enables CRU to take a pre-eminent position in ferroalloys and metallics worldwide, both in price assessments and in conferences. There is an excellent fit between our two businesses which will allow us to offer even more value to our customers around the world.”

CRU Chief Executive Nick Morgan said: “We have always admired the Ryan’s Notes business and were not surprised when it researched very well in our pre-acquisition work. I am pleased to welcome Patrick, Alice and their team to CRU.”

UK, London & USA, Pelham, NY

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Axel Springer Digital Classifieds to acquire local portal meinestadt.de

August 21, 2012 — Fusion DigiNet

Axel Springer Digital Classifieds, a strategic partnership between Axel Springer and the global growth investor General Atlantic founded in the spring of 2012, is to acquire allesklar.com AG, which operates Germany’s leading local portal meinestadt.de. The company is being sold by the founding Stegger family (56.1 percent) and by Holtzbrinck Digital Strategy (43.9 percent).

Founded in 1996, the Siegburg-based company currently employs a staff of about 300 people. Its most important asset is the local portal meinestadt.de, which attracts more than 8 million unique monthly users (AGOF). Users turn to meinestadt.de for a variety of local and regional content, including job and apprenticeship offers, real estate and automotive ads and general classifieds for some 11,337 German cities and towns, at the present time. The regionally specific portal sites also offer city information and leisure time recommendations, as well as local news, information on events, movie schedules, and a business directory.

Dr. Jens Müffelmann, Head of the Electronic Media Division at Axel Springer AG: “meinestadt.de offers sustained profitable growth, a very wide reach and strong brand familiarity, as well as tremendous growth prospects, due to its focus on regional and local content. As a leader among regional portals, moreover, meinestadt.de makes an excellent fit with our portfolio of national classified marketplaces.”

Following the acquisition, the founder and Chief Executive Officer Dr. Manfred Stegger, 61, will leave the company. Georg Konjovic, 34, will succeed him by January 1, 2013, at the latest. Appointed Director Premium Content at Axel Springer AG since January 1, 2011, he also served as the Managing Director of hamburg.de, the official city portal of the Free and Hanseatic City of Hamburg, from 2007 to 2010. Peter Bettin, 50, Chief Operating Officer of allesklar.com, will continue as a Management Board member.

The transaction is still pending, subject to the approval of the cartel authorities.

Germany, Siegburg

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