Sainsbury’s takes a majority stake in online books platform Anobii

May 14, 2012 — Fusion DigiNet

Sainsbury’s has acquired HMV Group plc’s shareholding in Anobii Limited, a social network and online retailer of e-books. Sainsbury’s purchased HMV Group plc’s stake for £1. As a result of the transaction and Sainsbury’s investment in the future development of the business, it is anticipated that Sainsbury’s will have a 64% stake in Anobii.

The investment in Anobii follows the acquisition of online entertainment company Global Media Vault Ltd in October 2011 and the launch of its music download service earlier this year.

Anobii is an online e-books platform which enables readers to research titles and purchase them to read on a range of e-reader, smartphone and tablet devices. Readers can rate, review, share and discuss their choices with other Anobii members on http://www.anobii.com and across related social networking sites. The service currently has over 600,000 users worldwide, with a library of over 60,000 e-books.

Sainsbury’s joins Anobii’s existing shareholders and global publishers HarperCollins, Penguin and Random House Group (UK) with the aim of investing in and developing the business in the UK and overseas.

Mark Bennett, Sainsbury’s Head of Digital Entertainment, said: “Anobii’s innovative use of social media is a clear differentiator. This acquisition is a valuable addition to our digital portfolio and shows our commitment to becoming a key player in the digital entertainment market. It further demonstrates how we are constantly looking to innovate and seize opportunities that will support the future growth of our business. We’re excited about working together with the Anobii team and our fellow shareholders in supporting Anobii to become a leading retailer of e-books.”

UK, Londpn

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Schneider Electric acquires M&C Energy Group

May 4, 2012 — Fusion DigiNet

Schneider Electric has signed an agreement to acquire M&C Energy Group, a fast-growing company specialised in energy procurement and sustainability services for both multinationals and small to medium sized enterprises.

Headquartered in the Fife, Scotland, M&C provides its customers with energy procurement, compliance and performance optimization services mostly on recurring subscription basis. The company has more than 500 employees including 300 energy specialists and an international presence with 21 offices across 15 countries, particularly in Europe and Asia-Pacific.  M&C expects to generate total sales of approximately £35 million for the current year ending June 2012 with an EBITA margin above the Schneider Electric average.

In March last year Schneider Electric bought Summit Energy for total purchase price for the company is $268 million (~ € 190 million). See Fusion DigiNet article here.

Schneider Electric say that the M&C acquisition will complement the offerings and geographic presence of Summit Energy. M&C brings:

  • A strong client base of about 4,000 customers comprised of large corporations as well as a big pool of small to medium sized enterprises
  • Complementary geographical footprint, including Australia, Asia and some European locations
  • Highly experienced team specialized in services like energy procurement and risk management, regulatory analysis and compliance, performance optimization and sustainability auditing.

Chris Curtis, Schneider Electric’s Executive Vice President, Buildings Business, commented: “M&C is a bolt-on acquisition that will strongly complement Summit’s offerings, significantly enhance the Group’s position in energy management services, and accelerate our growth in countries where our presence is limited. In addition, this acquisition is totally in line with the Group’s strategy to boost services growth. The combination will allow us to connect their supply side expertise with our lead in demand side solutions and generate significant synergies.”

Mark Dickinson, CEO, M&C Energy Group commented: “Bringing M&C Energy Group and Schneider Electric together creates a global force in the energy advisory sector, providing long-term benefits to both staff and clients flowing from the combined knowledge, expertise, geographic footprint and range of products and service available.”

The completion of the transaction is subject to regulatory approvals and customary closing conditions.  The closing is expected to occur in the second quarter 2012. This acquisition is expected to be accretive on earnings per share from year 1 and to meet Schneider Electric’s Return on Capital Employed criteria in year 3.

France, Rueil-Malmaison, UK, Scotland, Fife and USA, Kentucky
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Acquisition of Xceligentby DMGT

April 27, 2012 — Fusion DigiNet

dmg:: Information (dmgi), the Business information division of Daily Mail and General Trust, has agreed to make a strategic investment in Xceligent Inc. for a consideration of less than US$10 million.

Xceligent, based in Independence, Missouri, is one of only two companies in the United States that provide fully researched property and listing information to the commercial real estate community. The remaining shares in the company are owned by the founders, management and employees.

UK, London & USA, Independence, MI

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Publicis Groupe has acquired Indigo Consulting

April 24, 2012 — Fusion DigiNet

Publicis Groupe has acquired Indigo Consulting, a full-service Indian agency providing website design and development, search engine optimisation, usability research and testing, and marketing online, on mobiles and in social media.

Since it was founded in 2000, Indigo Consulting has developed websites, software solutions and digital marketing programs for clients around the world, including Asian Paints, HDFC Bank, HSBC (India, Asia-Pacific and Middle East), Loop Mobile, Tata AIG Insurance and South Australia Tourism. The agency currently employs a team of 160 at its Mumbai headquarters and Delhi office. Their work has been recognised with Webby awards, W3 awards and Abbys.

Indigo Consulting will operate as a unit within the Leo Burnett Group in India and will retain its name. Its founder, Vikas Tandon, will remain as Managing Director, reporting into Arvind Sharma, Chairman of the Indian Subcontinent for Leo Burnett.

“From a global point of view, the potential and opportunities that India offers are massive,” explained Tom Bernardin, Chairman and CEO of Leo Burnett Worldwide. “Over the years we have increased our efforts into this important market. Indigo Consulting, with its strong track record as a full-service interactive and technology agency, is the perfect strategic fit for our aspirations in India and around the world”.

“This alignment means we will bring our world-class digital marketing capabilities to Leo Burnett’s clients, while also benefiting from additional knowledge and insight on brand and creative communication through cross-training and collaboration,” said Vikas Tandon, Managing Director of Indigo Consulting.

“Our growth strategy for Leo Burnett in India and Asia Pacific is based on two core pillars: digital and shopper-marketing” added Jarek Ziebinski, President of Leo Burnett Asia Pacific. “India is a key market for us, and it’s reporting explosive growth in the digital sector. We want to make sure Leo Burnett has the right infrastructure in place to meet the needs of tomorrow. I also see Indigo Consulting developing beyond India, to become an important player within our network in Asia Pacific and globally.”

Currently advertising and marketing online represents less than 3% of overall adspend in India, according to ZenithOptimedia, but the sector is forecasted to boom. ZenithOptimedia estimates that over the next three years, India’s digital adspend will increase by roughly 30% a year, driven by the spread of smartphones and the youth culture of social networks. Publicis Groupe aims to double its size by 2015 in India, which is the world’s 16th largest advertising market.

France, Paris & India, Mumbai

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Argus acquires Fundalytics

April 19, 2012 — Fusion DigiNet

Energy and commodity price reporting agency Argus has acquired Fundalytics, a specialist European natural gas fundamentals data service. The terms of the acquisition were not disclosed.

Founded in 2009, Fundalytics compiles, cleans and publishes fundamental data for European natural gas markets. Data sets include supply and demand, inventories, interconnector flows, nominations, allocations and many other types of key information useful for planning and analysis. Data are available on an intra-day basis and can be delivered in multiple formats.

Argus Media chairman and chief executive Adrian Binks said: “Fundalytics data are a complementary service to the pricing and analysis services provided by Argus for international natural gas markets. This acquisition means that Argus can provide a fuller service to our clients. Argus prices are already used extensively as benchmarks in physical and derivative contracts for natural gas and other forms of energy. High quality fundamentals data will add a further valuable information source.”

Fundalytics director Chris Dodds said: “I am very pleased to be working with Argus. Argus has the price reporting expertise and analysis skills that will help to develop our data services further. The two companies together will be be able to offer a first-rate full service to our complementary client and prospect databases.”

UK, London

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WPP’s Penn Schoen Berland acquires First Movies International

April 19, 2012 — Fusion DigiNet

WPP’s wholly-owned global strategic communications consultancy firm Penn Schoen Berland has acquired First Movies International which has operations in London and Los Angeles.

Founded in 2000, First Movies is a research-based strategic consultancy that serves film companies on a global basis. Clients include many of the major film studios, independent distributors, production companies and industry affiliates. The business employs research consultants in the US and UK and key partners include Disney, Paramount, Sony Pictures and 20th Century Fox.

First Movies’ capabilities will complement Penn Schoen Berland’s existing media and entertainment practice by giving it a bigger footprint and an increased capability to service its clients’ global research needs.

UK, London and USA, Los Angeles, CA

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WPP Digital invests in mySupermarket

April 19, 2012 — Fusion DigiNet

WPP Digital has made an investment of $7 million for a minority stake in Dolphin Software Ltd., doing business as mySupermarket, a company which operates a shopping site that allows consumers to compare prices of entire shopping baskets and buy from the major UK online grocery and health & beauty retailers. It has over 2 million monthly unique users in the UK and is growing approximately 100% year on year.

Founded in 2006 and with principal operations in the US, the company employs 70 people and has offices in London, New York, Tel Aviv and Tokyo.

Terms of the deal were not disclosed.

UK, London

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DMGT – trading update for the six-month period to the end of March 2012

April 17, 2012 — Fusion DigiNet

DMGT has issued an update on the Group’s progress in the current year. It covers the six-month period to the end of March 2012.

Summary

–       Solid Group revenue performance, up 2% underlying

–       Good underlying growth from B2B operations

–       Resilient revenue performance at Associated; circulation and digital revenue growth largely offsetting print advertising weakness

–       Active portfolio management; targeted acquisitions and disposal of non-core assets

–       Outlook for the year remains unchanged.

 

Acquisition activity

Active portfolio management has seen further bolt-on acquisitions, including:

–       Intelliworks – a top provider of relationship management solutions for higher education (dmgi – Hobsons)

–       PrepMe – a leader in adaptive learning technologies and test preparation programs (dmgi – Hobsons)

–       SpringRock – a cutting-edge provider of dynamic production forecasts for the oil & gas industry (dmgi – Genscape)

–       Global Grain Geneva and Global Grain Asia – international grain trading conferences (Euromoney) (A Fusion deal – click here for details)

–       Jobrapido – one of the world’s largest job search engines (Associated -Evenbase)

This continuing portfolio management activity has also seen A&N Media selling its interests in Top Consultant, motors.co.uk and Teletext.

Yesterday, the Office of Fair Trading gave clearance for the proposed merger between the Digital Property Group and Zoopla to go ahead.

Read the full announcement here

UK, London

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Euromoney Institutional Investor – trading update – half year profits of not less than £47M

April 17, 2012 — Fusion DigiNet

Euromoney Institutional Investor PLC, the international publishing, events and electronic information group, has issued a trading update ahead of the announcement of its results for the half year to March 31, 2012.

Group revenues for the six months to March 31, 2012 are expected to show an increase of 13% to £189 million.  Underlying revenues, excluding the impact of last year’s acquisition of Ned Davis Research (NDR), increased by approximately 5%.  Headline subscription revenues are expected to have increased by 22%, and accounted for 53% (2011: 49%) of the group’s revenues for the period.  Underlying subscription revenues, excluding NDR, increased by approximately 7%, continuing the good momentum from 2011. Advertising and sponsorship revenues are down by 8%. The stronger performance of delegate revenues in the second quarter was mostly due to timing differences on events and the impact of the political unrest in the Middle East on delegate bookings last year.

The following table summarises the expected year-on-year revenue changes for the six months to March 31 at both headline rates and at constant currency:

For the half year to March 31, 2012, Euromoney expects to announce an adjusted profit before tax* of not less than £47 million (2011: £41.6 million).  The adjusted operating margin^ is expected to be unchanged at 30%.

Group net debt at March 31, 2012 is expected to be no more than £90 million, down from £119.2 million at September 30, 2011.  The reduction in net debt largely reflects the continued strong operating cash flows of the group.

Recent sales trends suggest the outlook for advertising revenues remains challenging, while the outlook for the events businesses, for which the third quarter is the most important of the year, is positive.  Overall trading remains in line with the board’s expectations.

The half year results will be announced on the morning of May 17, 2012, followed by an analyst presentation and investor meetings. Euromoney is participating in the DMGT investor day on April 18 when it will give a presentation covering the importance of emerging markets to its growth strategy.  No further comment on trading will be given at this meeting.

* Adjusted profit before tax is profit before tax, acquired intangible amortisation, exceptional items, deferred consideration adjustments and non-cash movements in acquisition option commitment values.

^ Adjusted operating profit is operating profit before acquired intangible amortisation, long-term incentive expense, exceptional items and share of results in associates.

UK, London

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Inspired Energy acquires Direct Energy Purchasing Limited and raises £1M

April 16, 2012 — Fusion DigiNet

Inspired Energy plc, a UK energy procurement consultant to UK corporates, has entered into a conditional agreement to acquire Direct Energy Purchasing Limited (“DEP”), an energy procurement adviser to predominantly multi-site corporates, for a consideration of up to £4.0 million.  Inspired Energy has also raised £1.0 million (before expenses) through a placing of new ordinary shares.

The total consideration for the Acquisition comprises initial consideration of £2.0 million to be satisfied by a cash payment of £1.25 million and the issue of 21,428,572 ordinary shares in the capital of Inspired plus two deferred payments of up to £1.0 million each based primarily upon the financial performance of DEP in the two financial years ending 31 March 2013 and 31 March 2014.

The principal terms of the Acquisition Agreement are described in more detail below.

Inspired has raised £1.0 million (before expenses) through an oversubscribed placing by Shore Capital Stockbrokers Limited of 28,571,429 new ordinary shares of 0.125p each at a price of 3.5p per Placing Share, which will provide additional financing for the Group.

The initial cash payment in respect of the Acquisition will be funded from the Group’s existing cash resources and the Placing. The deferred consideration of up to £2.0 million is expected to be funded from existing cash resources as at completion and future cash-flows generated by the enlarged group.

Overview of DEP and the Acquisition

DEP is an energy purchasing management and consultancy business focused on providing consultancy and bureau services to multi site corporates, with specialisms in the healthcare and specialty retail sectors

The acquisition brings access to new sector verticals and increases the average size of clients across the enlarged Group’s portfolio, complementing and building on Inspired’s growth strategy

In the year ended 31 March 2011, DEP achieved revenues of c. £1.2 million and profit before tax of c. £0.7 million.  As at 31 December 2011, the contracted order book stood at c.£1.7 million. DEP currently serves 68 clients, and manages the procurement and administration of in excess of 6,000 energy meters across the UK.

DEP’s strong retention rates underpin stable revenue progression

Based in Bolton, DEP employs 18 staff and has 68 customers across the UK

Commenting on the Acquisition, Janet Thornton, Managing Director of Inspired said: “We are delighted to conclude our first acquisition since our admission to AIM in November 2011.  The acquisition of DEP complements our growth strategy, providing access to new sector specialisms as well as increasing our average size of client and geographic reach. We believe that the acquisition of DEP will benefit both Inspired and DEP. The acquisition of DEP increases the breadth of our target customer base and brings operational benefits, including increasing our supplier diversification and providing a platform for increased real time reporting.  Similarly, we believe that by becoming part of the Group, DEP’s customers can benefit from our exclusive products, increased buying power and access to our highly innovative and respected risk management team.”

UK, Kirkham, Lancashire and Bolton, Lancashire

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