Mood Media sells its residential Latin American music operations to Stingray Digital

January 10, 2014 — Fusion DigiNet

Mood Media Corporation is to sell its residential Latin American music operations to its long-term independent affiliate and operating partner, Stingray Digital for $16.3 million.

Under the terms of the agreement, Mood Media will receive an initial cash payment of $10 million and an intercompany settlement of $1.4M. Upon the residential Latin American operations’ achievement of certain key performance indicators, Stingray will pay Mood Media the remaining amount over a period of 18 months.

“This transaction strengthens our balance sheet as we execute our strategy to broaden audio, visual, mobile, scent and experiential solutions to support current and prospective clients,” said Steve Richards, Chief Executive Officer and President. “We are pleased to achieve this milestone, further underscoring Mood’s commitment to delivering growth and enhanced returns for stakeholders. We will continue to evaluate opportunities to simplify our portfolio, leverage Mood operating infrastructure and resources to deepen relationships with clients, and create heightened value for shareholders. We remain focused on achieving our vision for ensuring Mood Media is recognized as the global leader for In-Store and In-Office Experiential Solutions.”

Canada, Toronto & Latin America

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Global M&A Performance Roars Back in 2013

January 1, 2014 — Fusion DigiNet

Acquirers around the world enjoyed their best performance this year since the financial crisis began in 2008, outperforming companies not involved in M&A activity by an average of 4.7%, according to Towers Watson’s Quarterly Deal Performance Monitor.

The study of completed M&A deals over $100 million, conducted in partnership with Cass Business School in London, shows that during 2013, North America acquirers outperformed those in other regions at 8.1% above the regional MSCI Index. This represented a significant turnaround from last year, when the region underperformed the index by 1.3%.

Acquiring companies in Asia Pacific outperformed the regional index by 3.5% (compared to a 0.1% underperformance in 2012), while performance in Europe came in at 2.2% above the regional index (compared to 2.4% in 2012).

“The big M&A story for 2013 is how well acquirers’ stock performed relative to that of non-acquirers across the three regions we track. And North America acquirers showed the most dramatic reversal, underperforming the index in 2012, then outperforming the index so strongly this year,” said Jim McKay, North America M&A practice leader at Towers Watson.

North America continues to lead the other regions in terms of the volume of deals completed, with 375 deals over $100 million so far in 2013. This accounts for nearly 60% of the global total. Asia Pacific has overtaken Europe as the second-most active M&A region, completing 141 deals to Europe’s 104. As a result, for the second year in a row, Europe had the lowest number of completed deals in 2013 and its lowest level since 2009.

The research also shows that in 2013, there were fewer megadeals (those over $10 billion) than in prior years. There were only four such deals in 2013, none of which occurred in the second half of the year. This marks the first time this has occurred for any six-month period in nearly three years.

The data also show that in 2013, slow deals (those taking over 70 days from announcement to completion) performed better than deals completed rapidly (7.0% versus 3.1%). In addition, domestic deals (where the acquirer and the target company are both based in the same country) outperformed cross-border deals by 5.2%.

“While many companies have cash to spend on acquisitions, and the economic outlook is improving for many countries, the research confirms that most companies are still taking a surprisingly restrained approach to M&A,” said McKay. “Such caution is understandable, but we do know from previous research that companies buying into a rising market tend to outperform their peers to a greater extent than those buying in a flat or declining market. So if the markets remain strong, those companies willing to be among the early movers in their industry are likely to see a clear advantage.”

USA, London and UK, London

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WPP’s December acquisitions – Crystal Semantics, Vocanic, Social Lab, Fisheye Analytics, Richard Attias & Associates, ARMI, RC&M, ClickMedia and MASSCOM

December 27, 2013 — Fusion DigiNet

wppWPP ends the year with nine acquisitions.

1) Mindshare to acquire MASSCOM media agency in Philippines: December 20, 2013

WPP’s wholly owned operating company, Mindshare, a global media agency network, is to acquire the business and assets of Media Arts System and Services Company, Inc. in the Philippines.

MASSCOM was established in 1986 as an independent media agency, serving Unilever exclusively in the Philippines. MASSCOM provides media planning, strategy and buying services to Unilever, the global fast-moving consumer goods company and a top advertiser in the Philippines.

2) GroupM to acquire majority stake in social media marketing agency, ClickMedia in Vietnam: December 19, 2013

WPP’s wholly owned operating company, GroupM, WPP’s global media investment management arm, is to acquire a majority stake in ClickMedia, a social media marketing agency in Vietnam.

Established in 2008, ClickMedia is a full service social media marketing firm which provides social media strategy, campaign strategy and implementation, as well as social media listening, crisis prevention and management.

Clients include Unilever, FrieslandCampina, Piaggio and Estee Lauder. ClickMedia’s unaudited revenues for the year ended 31 December 2012 were VND 23.7 billion with unaudited gross assets at the same date of VND 12.0 billion. The agency employs 55 people.

3) Grey to acquire majority stake in RC&M, a rural communications and marketing services provider in India: December 18, 2013

WPP’s wholly owned operating company, Grey, the advertising network of Grey Group, has agreed to acquire a majority stake in RC&M, one of India’s largest rural communications and marketing services providers.

RC&M is a pioneer in experiential marketing in India, delivering integrated activation solutions, encompassing creative designing to production & implementation. With a formidable reach across 400,000 Indian villages and 5,000 towns, the company is a leader in the organised rural/semi-urban activation market.

Founded in 1990, RC&M is headquartered in Delhi, with offices in Mumbai and Bengaluru.

RC&M’s unaudited revenues for the year ending 31 March 2013 were approximately INR 360 million. The company employs more than 320 people and services clients in the automotive, industrial automation, FMCG and durable sectors.

RC&M marks WPP’s 12th acquisition in India in the last nine years.

4) Millward Brown acquires majority stake in ARMI-Marketing in Russia and Ukraine: December 18, 2013

WPP’s wholly-owned operating company Millward Brown, a global leader in brand, media and communications research, is to acquire a majority stake in ARMI-Marketing in Russia.

Founded in 1992 and headquartered in Moscow, ARMI is a leading provider of market research services in Russia and Ukraine. Clients include leading multinational and local brands, including two-thirds of Russia’s top 15 advertisers.

ARMI’s consolidated unaudited revenues for the year ended 31 December 2012 were approximately RUB 735 million. The company employs around 200 people.

5) WPP takes stake in Richard Attias & Associates: December 17, 2013

WPP has taken a 30% stake in strategic consultants Richard Attias & Associates.

Under the active leadership of founder chairman Richard Attias, RAA has built a reputation for helping governments and corporations articulate their global objectives.

Events led by Attias include the World Economic Forum in Davos and other regions, the Clinton Global Initiative, launch of the Euro in 2000, the 2008 Arab Strategy Forum, the APEC CEO Summit in Hawaii, the 15th African Securities Exchange Association in Marrakech, Doha GOALS Forum, The Middle East Peace Summit in Jordan, the contract for the signature of the General Agreement on Tariffs and Trade (GATT) in Marrakech, the Monaco Media Forum and the Nobel Laureates Conference. In 2010, Richard Attias founded The New York Forum, an annual meeting to promote economic leadership and in 2012, The New York Forum AFRICA, a pan-African business and investment platform. In 2014, RAA will be producing 14 symposiums.

Commenting on the partnership, WPP CEO Sir Martin Sorrell said, “By building this partnership with global influencer Richard Attias , WPP confirms its strategy to support countries to brand their nations and corporations to have access to faster growing markets. Our ambition is to create together with Richard a world champion in the field of strategic communication, international conferences and global action oriented events.”

RAA is based in New York, with other offices in Paris, London, Rabat and Dubai. RAA employs 50 people and has revenues of around US$35 million.

Public sector clients of RAA have included the African Development Bank, Bahrain, Brazil, China, Dubai, France, Gabon, Jordan, Morocco, Qatar, Senegal, South Africa, Tunisia, UAE, UK, United Nations and the US.

6) Kantar to acquire Fisheye Analytics, a media monitoring and analytics services business in Singapore : December 16, 2013

WPP’s wholly-owned data investment management business Kantar, is to acquire the entire issued share capital of Fisheye Analytics Pte. Ltd., a media monitoring and analytics services business based in Singapore.

Founded in 2009 in Singapore with an R&D centre in Hyderabad, Fisheye employs 14 people. The company, which will become part of Kantar Media, works with some of the biggest sports governing bodies, international organisations and governments from Europe to Asia.

For the year ending 31 October 2013, Fisheye’s unaudited revenues were SGD 782,871, with gross assets as at the same date of SGD 332,162.

7) Ogilvy & Mather to acquire majority stake in social marketing agency, Social Lab in Belgium : December 12, 2013

WPP’s wholly-owned marketing communications network, Ogilvy & Mather, has agreed to acquire a majority stake in Social Lab, a social marketing agency based in Belgium with offices in Paris and Amsterdam.

Founded in 2010 and employing 50 people, Social Lab specialises in social media marketing. Clients include IKEA, Club Med, Interbrew, L’Oréal, Galbani, Electrabel GDF Suez, Nespresso, Oasis, Delhaize and the National Lotery. Social Lab’s unaudited revenues for the year ended 31 December 2012 were EUR 3.1 million with gross assets as at the same date of EUR 0.4million.

8) GroupM to acquire majority stake in Vocanic, a social media marketing business in Asia : December 10, 2013

WPP’s wholly-owned operating company, GroupM, WPP’s global media investment management arm, is to acquire a majority stake in Vocanic Pte Ltd., a social media marketing business in Asia.

Based in Singapore with offices in Malaysia, Indonesia and Thailand, Vocanic is a full service social media marketing firm. Established in 2005, Vocanic has 70 people providing social media strategy consulting, social technology, social media program and campaign management, community management and social media analytics.

For the year ending 31 December 2012, Vocanic’s revenues were SGD 4.3 million, with gross assets of SGD 2.1 million.

Vocanic’s client list includes blue chip business partners such as StarHub, Axis, EDB, SAP, Astro, Unilever, Dell, Symantec, Mead Johnson, Danone, WingTai Retail, MHD, and Standard Chartered Bank.

9) 24/7 Media acquires digital agency Crystal Semantics In the UK: December 9, 2013

WPP Digital’s marketing technology company 24/7 Media, has acquired the entire issued share capital of Crystal Semantics Limited. Crystal Semantics is a provider of semantic advertising solutions.

With its proprietary technology, Crystal Semantics accurately matches advertising to the meaning of a page of web content, greatly reducing the risk of inappropriate advertising placement. With the acquisition, the combined companies will provide distinct advantages to both advertiser and publisher clients through improved advertising relevance and enhanced brand protection. Founded in 2001 and based in London, Crystal Semantics is a major provider of online data services to advertising agencies, networks and exchanges.

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Progressive Digital Media Group acquires Pyramid Research from UBM

December 12, 2013 — Fusion DigiNet

progressiveProgressive Digital Media Group the provider of business information to the consumer and technology markets, has acquired the business and trading assets of Pyramid Research, a leading  of business information and market analysis for the Information and Communications Technology industry, from UBM for a gross consideration of US$3.3 million in cash payable on completion. Completion, which is subject to UK employee consultation, is scheduled for 2 January 2014 and will be financed from the Group’s existing cash resources.

pyramidresearchFor nearly 25 years, Pyramid has been providing practical advice on market and service opportunities to leaders in the converged communications, media and technology industries. Pyramid’s market analysis is centred on detailed primary research complemented with insightful analysis and dynamic modelling tools.  Pyramid has offices in London, Boston and Argentina with subscribers located across the globe.

“Pyramid is well known to us and we are delighted that the opportunity has arisen for this business to join the Group”, said Simon Pyper, Chief Executive of Progressive Digital Media. “Pyramid has a well regarded brand name, a portfolio of high quality data assets and moreover, an expanding presence in some of the world’s fastest growing markets.”

Owing to the subscription nature of the business the acquisition is expected to be earnings neutral in the first full year of ownership and earnings accretive thereafter. The net assets to be acquired on completion are expected to be approximately US$0.3 million.

UK, London

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1. Progressive Digital Media Group

2. UBM

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Pearson to acquire English language training company Grupo Multi in Brazil

December 5, 2013 — Fusion DigiNet

Pearson2Pearson is to acquire 100% of Grupo Multi, the adult English Language Training company in Brazil. Pearson will acquire Grupo Multi from the Martins family, the company’s 78% majority shareholders, and the investment firm Kinea for approximately £440m (R$1.7bn) in cash and the assumption of £65m (R$0.25bn) of debt.

multiGrupo Multi is the largest provider of private language schools in Brazil serving over 800,000 students across more than 2,600 franchised schools. It primarily delivers English language courses through a range of school brands including Wizard, Yazigi, Microlins and Skill. Pearson already has approximately 500,000 students in K12 schools through its sistemas business in Brazil.

Brazil is one of the world’s largest English Language Learning markets with the English Language Training market estimated to be worth £2bn (R$7bn) and a total of 2.8 million students enrolled across children, teenage and adult age groups. It is expected to grow rapidly supported by an expanding middle class population and greater coverage of the addressable market by franchise schools.

This growth is fuelled by the fact that English language fluency in Brazil is low by international standards. In addition, a shortage of English speakers in key sectors including tourism, transportation, and hospitality is considered to be one of Brazil’s challenges as it prepares to host high-profile global events including the World Cup and the Olympics.

John Fallon, chief executive of Pearson, said:

“Brazilians’ appetite for learning English as a global language of business and trade shows every sign of continuing to grow rapidly as Brazil becomes a global player in commerce, travel and a host of other industries.

Over the past twenty five years, Grupo Multi has become the most respected English learning company in Brazil by offering high quality affordable English language learning that has made a real impact on the lives of its students. We intend to sustain and grow the business, helping many more young Brazilians to acquire the English language skills that will help them succeed in their careers.”

The transaction is subject to a regulatory review that Pearson expects to be completed in the first half of 2014. In 2012, Grupo Multi generated operating profits of £42m (R$130m) and at 31 December 2012 had gross assets of £200m (R$667m). During 2014, Grupo Multi will be integrated into Pearson’s Professional Line of Business and Growth geographic segment. In 2015, Pearson expects a full year contribution from Grupo Multi to enhance adjusted earnings per share and to generate a return on invested capital slightly above Pearson’s weighted average cost of capital.

Morgan Stanley acted as financial adviser to Pearson on this transaction.

UK, London & Brazil, São Paul0

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Tarsus Group – Mexico Acquisition

November 27, 2013 — Fusion DigiNet

TarsusTarsus Group is to acquire a 50% interest in a company that owns two major exhibitions in Mexico from E.J. Krause & Associates (“EJK”) to establish a joint venture with EJK.

EJK was founded in 1984 and is one of the largest privately held exhibition companies in the world. Headquartered in the US EJK has offices on three continents and produces over 80 events in 16 different industries.

The JV owns two events held in Mexico:

  • Plastimagen (2013: 17,400 net sqm), a leading exhibition in Mexico for the plastics industry, focussing on plastics processing and ancillary equipment, attracting engineering and production professionals from plastics processing, packaging and manufacturing companies. It is run on an 18 month cycle with the next edition scheduled to be held in November 2014; and
  • Expo Manufactura (2013: 4,300 net sqm), a metalworking/manufacturing exhibition, featuring machine tools, assembly technology, fabricating, software, coil winding and welding technologies.   Visitors include production and engineering professionals from across a wide spectrum of Mexican manufacturing industries. The show takes place annually, with the next edition due to be held in March 2014.

The JV provides the Group with an important hub in the growing Mexican exhibition market and it will be one of the top three largest international exhibition companies in Mexico. Under the terms of the Acquisition EJK will continue to manage the events post Acquisition.

The JV will also provide a platform for Tarsus to launch new exhibitions in Mexico, primarily drawing on Tarsus’s existing major brands. Concurrently Tarsus has agreed to collaborate with EJK by launching replications of existing EJK brands into territories in which Tarsus has a suitable launch platform.

The first of these will be in Indonesia where the Group has agreed with EJK to launch an edition of EXPO COMM in Jakarta. EXPO COMM is an ICT exhibition with a global schedule of events in Latin America, Europe, and Asia. It covers telecommunications, broadband, wireless 3G/4G, unified communications and network infrastructure. The first event is scheduled to be held in November 2014.

Douglas Emslie, Tarsus Group Managing Director, said:

“Mexico is a large and fast-growing market that has close trading ties with the US. The Mexican exhibition market is highly fragmented at present and offers exciting potential for growth.

“This agreement with EJ Krause enables Tarsus to acquire a stake in two leading events in Mexico – Plastimagen and Expo Manufactura. The joint venture fits our aim to  quicken the pace of our earnings by investing in quality assets in high growth markets.

“I am excited by the opportunity to work with EJ Krause to launch collaborative replications of Tarsus’ brands in Mexico and EJ Krause’s brands in emerging markets where Tarsus has an established footprint, initially  with an edition of EXPO COMM in Indonesia.”

UK, London & USA, Bethesda, MD & Mexico, Col. Del Valle

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H.I.G. Capital acquires Brazilian outdoor advertising firm Eletromidia

September 15, 2013 — Fusion DigiNet
higPrivate investment firm H.I.G. Capital, LLC, through its Brazilian affiliate, has acquired a majority stake in Eletromidia, one of the largest players in the out-of-home advertising industry in Brazil.

Founded in 1993, Eletromidia manages urban furniture, digital outdoor displays and indoor networks across 18 cities. The two founders will retain a significant ownership and will continue in their positions of leading the Company. The financial terms of the deal were not disclosed.

electromediaFernando Marques Oliveira, Managing Director and Head of H.I.G. Brasil and H.I.G. Latin America, added, “Eletromidia is a unique asset with a spectacular team and growth prospects. We are excited to support management in Eletromidia’s next expansion phase, developing new advertising solutions and positively impacting the entire industry.”

About Eletromidia

Eletromidia offers innovative advertising solutions through a network of static and digital panels in high traffic indoor and outdoor locations. Present in 18 cities across Brazil, the Company reaches over 6 million people daily. Eletromidia also develops full-fledged display and lighting solutions for major events. For more information, please refer to the Eletromidia website at

About H.I.G. Capital

H.I.G. is a leading global private equity investment firm with more than $13 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York, and San Francisco in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Paris, and Rio de Janeiro, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding in 1993, H.I.G. invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes more than 80 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at .

Brazil, Rio de Janeiro

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WGSN acquires Mindset Communicaco e Marketing Ltda in Brasil

September 4, 2013 — Fusion DigiNet

wgsnWGSN, the global trend forecasting service, has acquired Mindset Communicaco e Marketing Ltda, its marketing partner in the Latin American market.

Mindset is an advisory agency dedicated to research and analysis of future and current consumer behavior. It works with many leading companies in Brazil and brings a loyal subscriber base and great relationships with major retailers, merchandisers and designers across the region. Mindset has been a reseller of WGSN’s trend service subscription for nine years.

This agreement will provide Mindset access to WGSN’s infrastructure, wider global markets and their expertise in technology, content, operations and customer excellence. It will enable WGSN to be even closer to its customers in Latin America and create local content direct for that market. It will also enable other Top Right Group businesses to benefit from Mindset’s expertise in Brazil and across the LATAM region.

Julie Harris, CEO of WGSN and Planet Retail commented: “We are delighted to announce this acquisition, which not only further strengthens WGSNs position in the Latin American market, but is also part of a wider strategic objective to expand our trend, retail and intelligence services in new and developing markets.”

This is the group’s second acquisition this year following the purchase of certain online assets of Mudpie, a provider of fashion trend forecasting with more than 200 customers worldwide.

Top Right Group Latin America is headquartered in Sao Paulo and will shortly move to a new office near Faria Lima.

UK, London & Sao Paulo

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Eventbrite acquires London-based Lanyrd and Latin American events company Eventioz

September 3, 2013 — Fusion DigiNet

eventbriteEventbrite, the global self-service ticketing platform, has acquired London-based event data company Lanyrd, and Argentinean-based ticketing company Eventioz. The terms of the deal were not disclosed. These acquisitions are the first for the Eventbrite which in April raised $60 million in funding. T

“For seven years, Eventbrite has focused on creating, scaling and promoting the best ticketing platform on the market. Now it’s time for us to open our pocketbooks a bit to accelerate our growth around the world,” said Kevin Hartz, Eventbrite Co-Founder and CEO. “These two acquisitions perfectly align with the strategic focus for the company, while adding significant assets and technical power to our platform.”

lanyrd Lanyrd, a social conference directory based in London, allows users to add and discover events as well as track friends’ professional event activity. The company was founded in 2010, and has worked with nearly 40,000 events in 148 countries.  The Lanyrd team will relocate to Eventbrite’s headquarters in San Francisco to be part of the 100+-strong engineering effort. Eventbrite will continue to support Lanyrd.com and its community after the acquisition.

eventioz Eventioz is a Latin American ticketing platform with operations in Argentina, Brazil, Chile, Colombia, Mexico and Peru. Since the business started in 2008, it has helped  more than 15,000 organisers create, promote and sell tickets to nearly 20,000 events.

USA, San Francisco, CA & UK, London & Argentina

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Aegis Group buys its affiliate partner in Colombia

January 29, 2013 — Fusion DigiNet

AegisAegis Group plc, the media and digital communications group, has acquired a majority stake in its affiliate in Bogotá, Colombia. Terms of the deal were not disclosed.

The Aegis Carat network affiliate in Colombia is known as Carat Colombia and is led by Hector Bula. Bula has served Carat’s global clients in Colombia for over six years and will remain as CEO of the agency. Aegis will have the option in five years time to acquire the remaining shareholding.

Nigel Morris, CEO Aegis Media Americas & EMEA, said “We are delighted to continue our expansion in Latin America with the acquisition of Carat Colombia. The opportunities for growth in Latin America are great and Carat Colombia is well positioned in the market to harness this growth. Aegis has forged an excellent partnership with Hector over the years and we look forward to fully integrating the team into our network.”

UK, London, & Colombia, Bogotá

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