Blackstone-led consortium agrees partnership with Thomson Reuters for financial & risk business

January 30, 2018 — Fusion DigiNet

 

Thomson ReutersFollowing our earlier reporting on talks between Thomson Reuters and private equity firm Blackstone, the transaction has now been agreed on, with Thomson Reuters to sell a 55% majority stake in its F&R business to private equity funds managed by Blackstone. The transaction values the F&R business at approximately $20 billion. Thomson Reuters will receive approximately $17 billion in gross proceeds at closing (subject to purchase price adjustments) funded by $14 billion of debt and preferred equity to be incurred by the partnership and a $3 billion cash equity contribution by Blackstone. Thomson Reuters will retain a 45% interest in the F&R business. Thomson Reuters will also maintain full ownership of its Legal, Tax & Accounting and the Reuters News businesses. Canada Pension Plan Investment Board (CPPIB) and GIC will invest alongside Blackstone for the transaction.

The F&R business provides a broad range of offerings to financial market professionals. Its global content sets include fundamentals, estimates and primary and secondary research. F&R also provides customers with tools, platforms, venues and services to enable fast, intelligent decision-making. The businesses that will comprise the new F&R partnership had 2017 revenues of approximately $6 billion.

At the closing of the proposed transaction, F&R and Reuters News will sign a 30-year agreement for Reuters to supply news and editorial content to the new partnership. Under the agreement, F&R will pay Reuters a minimum of $325 million annually. For the duration of the news contract, Thomson Reuters will grant F&R a license to permit F&R to brand its information feeds and products/services with the “Reuters” mark, subject to applicable limitations and restrictions set forth in a trademark license agreement.

Jim Smith, president and chief executive officer of Thomson Reuters, said, “This deal strengthens F&R and should accelerate its growth and benefit its customers across the sell-side, buy-side and trading venues. Blackstone’s strong relationships in the financial services industry and long and successful history of corporate partnerships will help F&R provide new and innovative products and services, drive further efficiencies and navigate ongoing industry consolidation.”

Canada, Toronto, Ontario & USA, New York, NY

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Blackstone in advanced discussions to buy stake in key Thomson Reuters unit

January 30, 2018 — Fusion DigiNet

Thomson ReutersPrivate equity firm Blackstone is in advanced discussions with Thomson Reuters to buy an approximate 55 percent stake in the Financial and Risk (F&R) business of Thomson Reuters Corp. for more than $17 billion. According to reporting by Reuters, Thomson Reuters would receive around $4 billion in cash and $13 billion financed by new debt taken on by the new F&R partnership. It would value the unit at about $20 billion.

The F&R business provides a broad range of offerings to financial markets professionals, with $6.1 billion in revenues in 2016. F&R delivers global content sets, including fundamentals, estimates and primary and secondary research alongside tools, platforms, venues and services to enable fast, intelligent decision-making and trading. F&R also provides regulatory and risk management solutions to help customers anticipate and manage risk and compliance.

In an announcement, Thomson Reuters said, “As part of any proposed partnership, Thomson Reuters would retain a significant interest in the F&R business and would retain full ownership of its Legal, Tax & Accounting and Reuters News businesses”.

Canada, Toronto, Ontario & USA, New York, NY

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RELX Group to acquire ThreatMetrix

January 30, 2018 — Fusion DigiNet

RELXRELX Group is to acquire ThreatMetrix, a digital identity company that helps businesses prevent online fraud, for £580m in cash.

ThreatMetrix is headquartered in San Jose, California and founded in 2005. ThreatMetrix’s technology analyses connections among devices, locations, anonymised identity information and threat intelligence, and combines this data with behavioural analytics to identify high-risk digital behaviour and transactions in real time.

ThreatMetrix has client relationships across financial services, e-commerce, and media sectors and offers authentication solutions for account origination, payments, “card not present” transactions and account logins.

ThreatMetrix’s Digital Identity Network analyses over 100 million transactions per day across 35,000 websites from 5,000 customers. It is one of the largest repositories of online digital identities in the world, encompassing 1.4 billion unique online identities from 4.5 billion devices in 185 countries.

ThreatMetrix will become part of Risk & Business Analytics under the LexisNexis Risk Solutions brand. LexisNexis Risk Solutions already has an established commercial partnership with ThreatMetrix, including ThreatMetrix’s device intelligence solutions in its Risk Defense Platform.

Risk & Business Analytics CEO, Mark Kelsey, said: “ThreatMetrix is widely recognised as a leader in the digital identity space. Bringing that together with our own strengths in physical identity attributes will give our clients across all forms of commerce and geographies a more reliable, comprehensive approach to fraud and identity risk management while maintaining the privacy and security principles our customers have come to expect. The acquisition is in line with our organic growth driven strategy, supported by acquisitions of targeted data sets and analytics that are natural additions to our existing business.”

In 2017, RELX Group completed eight acquisitions for a total consideration of £123m, and disposed of 17 assets for a total of £87m.

USA, New York & UK, London & The Netherlands, Amsterdam & USA, San Jose, CA

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Hawke Media acquires Execute.LA

January 30, 2018 — Fusion DigiNet

Hawke MediaThe digital marketing agency Hawke Media has acquired Execute.LA, a growth marketing shop that specializes in funnel optimization and growth hacking for early stage consumer products and startups. The terms of the transaction were not disclosed.

Execute.LA was co-founded by Hank Leber and Wesley Clock and has employees located in the US and in Europe. Notable Execute.LA clients coming to Hawke Media include Bruno Mars’s SelvaRey Rum, and DrumChannel, the learning platform created by DW Drums Founder, Don Lombardi.

Erik Huberman, Founder & CEO of Hawke Media, said,”Execute.LA has done some incredible work for a number of really impressive brands and we are excited to be bringing both the team and their clients into the Hawke Media family”.

USA, Santa Monica & Venice, CA

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KHL Group acquires Diesel & Gas Turbine Publications

January 29, 2018 — Fusion DigiNet

KHL GroupGlobal construction information publisher KHL Group is acquiring the USA-based publisher Diesel & Gas Turbine Publication Group. USA-based D&GTP, founded in 1935 and located in Wisconsin, is a leading publisher of information for the on-highway, off-highway, stationary and marine engine-powered equipment markets. It focuses on the construction and agriculture, power generation and commercial vehicle equipment sectors through its North American magazine Diesel Progress and globally through Diesel Progress International. The terms of the transaction were not disclosed.

D&GTP directors Mike Osenga and Mike Brezonick have built an international reputation for their magazines, directories and websites. They will continue to lead the company while working closely with Trevor Pease, KHL Americas’ President and James King, Managing Director of KHL Group.

James King explained, “This is a fantastic opportunity for KHL to grow by acquiring three market leading publications, digital media and directories. Diesel Progress has a great brand, great heritage and is run by great people. We will build upon the company’s clear strengths and make it even stronger. Massive technological and environmental changes are underway in the design of engine powered equipment. A trusted source of global information is needed now more than at any time in the past.”

UK, Wadhurst & USA, Waukesha, WI

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Microsoft acquires live game operations startup PlayFab

January 29, 2018 — Fusion DigiNet

Microsoft with nameMicrosoft has acquired PlayFab, a startup which helps game developers launch their titles online more quickly with simplified back-end services. The terms of the transaction were not disclosed. The Seattle-based startup had previously raised around $13 million in funding from investors.

PlayFab runs its services for 1,200 cloud-connected games with more than 700 million players, and now Microsoft will integrate PlayFab’s tools into its Azure cloud service.

Kareem Choudhry, corporate vice president of gaming at Microsoft, said, “PlayFab’s tools are designed to be used by game developers across all platforms (mobile, PC and console). This acquisition extends the investments and work we’ve done on Microsoft Azure to provide a world-class cloud platform for the gaming industry.”

USA, Redmond & Seattle, WA

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Will Packer Media acquires women’s lifestyle site xoNecole

January 18, 2018 — Fusion DigiNet

Will PackerWill Packer Media has acquired xoNecole, a lifestyle site created by, and for, urban millennial women. The terms of the transaction were not disclosed.

Founded by blogger Necole Kane, xoNecole’s mission is to promote positive images of women of colour, as well as empower, educate and inspire millennials through interviews, beauty, fashion, lifestyle, career and travel features. Kane’s initial gossip site, NecoleBitchie.com, launched in 2008. The site rebranded in 2015 to focus on universal themes important to young women.

The deal expands WPM’s media footprint with xoNecole becoming the company’s first owned and operated digital platform and complementing its existing strength in TV, digital and branded content production. WPM will implement an accelerated growth strategy for the cross-platform brand, expanding its video, social and mobile offerings, and building a branded newsletter and multi-faceted event series to further connect with its audience.

Will Packer, CEO and founder of Will Packer Media, said, “Necole is amazingly gifted in her ability to connect with women and deliver much needed engaging, smart and empowering content that is aspirational and impactful.”

USA, Los Angeles, CA, New York, NY & Atlanta, GA

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Global publishing tech company MVF acquires Tech.co

January 16, 2018 — Fusion DigiNet

MVFMVF, a global customer generation business, has acquired technology news brand, Tech.co. The terms of the transaction were not disclosed.

Founded in 2006 by co-founders Frank Gruber and Jen Consalvo, Tech.co has transformed from a community-building ‘Tech Cocktail’ event to a media brand with millions of readers around the world.

MVF US CEO Bjorn Zellweger said, “With an established brand and engaged audience, [Tech.co]’s the perfect fit for MVF. We’re looking forward to furthering the brand’s reach through our digital marketing expertise, while continuing to invest in great content, bringing the latest tech news and useful resources to even more global readers.”

Tech.co founders Frank Gruber and Jen Consalvo will focus on their work advising, investing, and consulting while they continue to grow Startup of the Year and Innovate Celebrate.

USA, Austin, TX & Las Vegas, NV

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CRIF Acquires Vision-Net, a Leading Business Information Provider in Ireland

January 13, 2018 — Fusion DigiNet

CRIFCRIF, a global company specialising in credit bureau, business information and credit solutions, has acquired Vision-Net, a leading provider of business information based in Dublin. The terms of the transaction were not disclosed.

Vision-Net provides immediate access to credit reports and business information on every company in Ireland and the UK. Established in 1991, its client portfolio includes some of Ireland’s leading corporate companies across the financial services, legal and accountancy sectors, as well as listed companies, public sector bodies, multinationals and indigenous SMEs.

Carlo Gherardi, President and CEO of CRIF, said, “Our vision is built on developing new partnerships to strengthen what we offer to our clients and anticipate market needs. By combining the strength of CRIF’s global know-how and experience with Vision-Net’s distinctive expertise, we will help our clients to seize new opportunities and open up new possibilities for growth and innovation.”

USA, Atlanta, GA & Ireland, Dublin

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9 Story Media group acquires Out of the Blue Enterprises

January 12, 2018 — Fusion DigiNet

9 Story9 Story Media Group has acquired Out of the Blue Enterprises, a leader in children’s media across content creation, TV production, digital applications and consumer products. The terms of the transaction were not disclosed.

Founded in 2005 by Blue’s Clues co-creator Angela Santomero and former Nickelodeon executive Samantha Freeman, Out of the Blue is best known for the Emmy-nominated literacy series Super WHY; the Mister Rogers Neighborhood inspired Daniel Tiger’s Neighborhood; and the interactive art adventure program Creative Galaxy for Amazon Studios. Out of the Blue also owns the legacy toy brand Colorforms, named by Time Magazine as one of the 100 Greatest Toys of All-Time, and the company is in production on a new animated series based on the classic brand.

9 Story and Out of the Blue have previously worked together on the hit animated series Daniel Tiger’s Neighborhood, which 9 Story produces and distributes internationally with The Fred Rogers Company in association with Out of the Blue. The two companies have also worked together on Creative Galaxy for Amazon Studios, which Out of the Blue produces and 9 Story is the animation partner. Both series are currently in production on new seasons.

Vince Commisso, President & CEO of 9 Story Media Group, said: “Out of the Blue has a proven track record in developing unique and beloved brands for a preschool audience. Joining forces broadens our development capabilities, increases our consumer products reach and extends our presence in the U.S.”

Canada, Toronto & USA, New York, NY

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