Ziff Davis acquires emedia from RBI

June 5, 2014 — Fusion DigiNet

Ziff Davis, the Digital Media Division of j2 Global,has acquired emedia Communications LLC, a provider of research to IT buyers and leads to IT vendors, from Reed Business Information.

An agreement has also been signed to acquire the UK-based division of emedia, which will transfer to Ziff Davis following a period of employee consultation. emedia will become part of the Ziff Davis B2B.

The terms of the transaction were not disclosed.

USA, New York, NY & UK, London

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GDF SUEZ acquires Ecova for $335M

June 2, 2014 — Fusion DigiNet

gdf suezFrench energy group, GDF SUEZ is acquiring Ecova for $335 million. Ecova, an indirect subsidiary of Avista Corp, helps its clients in North America reduce energy cost and resource consumption. Completion is expected by July 1, 2014.

GDF said that the acquisition is part of a strategy of developing its Cofely brand in energy services.

ecovaThe company serves more than 700,000 clients sites and employs more than 1,450 individuals based in 18 offices across North America. Ecova manages $20 billion of utility expenses (energy representing the majority) and generated $180 million of revenues in 2013.

Commenting on the acquisition, Jérôme Tolot, GDF SUEZ Executive Vice President in charge of Energy Services, said: “This acquisition is a major step for the Group in energy efficiency. It will reinforce our expertise in energy data management and combined with our multi-technical know-how in energy efficiency. We will be able to offer innovative and concrete services to assist our clients with the transition to a low carbon economy. In this context, we are pleased to welcome Ecova, its employees and its customers to the GDF SUEZ family of businesses.”

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Morningstar acquires HelloWallet Holdings for $52.5 million

June 2, 2014 — Fusion DigiNet

morningstarMorningstar, a provider of independent investment research, is acquiring HelloWallet Holdings, a provider of independent financial guidance, for $52.5 million. Morningstar will pay $39.0 million because it currently has a minority stake in the company valued at $13.5 million.

hellowalletHelloWallet was founded in 2009 by Dr. Matt Fellowes, a consumer finance expert and former Brookings Institution scholar. In January 2012, Morningstar became a HelloWallet investor with $6.75 million in Series B funding. HelloWallet has a loyal and committed client base of retirement plan sponsors, such as Marsh & McLennan, United Technologies, and Salesforce.com, as well as key relationships with leading retirement plan providers. HelloWallet combines behavioral economics and the psychology of decision-making with sophisticated technology to provide personalized, unbiased financial guidance to more than 1 million U.S. workers and their families through their employer benefit plans. HelloWallet has about 50 employees in Washington, D.C., and Fellowes will remain with the firm in a leadership role.

Brock Johnson, head of retirement solutions for Morningstar, said, “There is a strong mission and cultural alignment between Morningstar and HelloWallet. Both firms are independent, entrepreneurial, and grounded in academic research. We want to bring together HelloWallet’s expertise in behavioral and consumer research and analytics with Morningstar’s investment management capabilities to create the first holistic solution for the retirement market. HelloWallet’s done a tremendous job—its unique approach to financial wellness has changed the way employers view benefits programs and the way employees manage their daily finances. Working together, HelloWallet and Morningstar have an opportunity to significantly improve the financial and retirement outcomes of workers.”

Through HelloWallet’s website and mobile applications, employees input their goals and priorities and add their financial information, including income, bank accounts, credit cards, retirement plans, insurance, and investments. HelloWallet creates budgets and analyzes trends in financial behavior to recommend how members can prioritize financial decisions, identify ways to stretch their paychecks, and make the most of their benefits, such as 401(k) plans, health savings accounts, flexible spending accounts, and insurance. HelloWallet also automatically alerts members when they need to make changes.

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Magnetic acquires Cognitive Match

June 2, 2014 — Fusion DigiNet

Magnetic+CM_BlogMagnetic, a digital ad technology platform, has acquired Cognitive Match, a provider of optimization and solutions for advertisers, agencies and media sellers. The terms of the transaction were not disclosed.

“Magnetic is one of the largest aggregators of intent data, and the addition of Cognitive Match means marketers can now build an ad in real time by assembling thousands of individual elements based on product feeds, keywords, audience intent, or just the weather or location,” says James Green, CEO of Magnetic. “This acquisition combines creative optimization with our programmatic platform so that marketers can personalize ads at scale.”

Magnetic and Cognitive Match have been partnering on campaigns for more than two years. Cognitive Match Founder and CEO, Alex Kelleher, and his team will join the Magnetic team in New York, San Francisco and London, effective immediately.

USA, New York, NY

 

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Vubiquity acquires UK-based FilmFlex Movies

May 29, 2014 — Fusion DigiNet

VUBIQUITY LOGOVubiquity, a US based provider of multiplatform video services, has acquired UK-based FilmFlex Movies Ltd., one of the largest VOD and multiplatform providers outside the United States.

filmflexFilmFlex, formerly a joint venture between Sony Pictures Television and The Walt Disney Company Limited, offers a customisable digital video storefront, already used by service providers and brands such as Virgin Media, TalkTalk, Film4 and EE. The company has licensing agreements with major US studios and many independent distributors.

“Vubiquity remains focused on expanding the breadth of our managed services and technical solutions that today support content and service providers worldwide,” said Darcy Antonellis, CEO of Vubiquity. “With FilmFlex we add additional studio assets and licensing, and gain important front-end technology to enable EST and other monetization models for multiplatform video consumption.”

USA, Sherman Oaks, CA & UK, London

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Apple to acquire Beats Music & Beats Electronics

May 28, 2014 — Fusion DigiNet

Apple_Beats_1Apple is acquiring subscription streaming music service Beats Music, and Beats Electronics, which makes the popular Beats headphones, speakers and audio software. As part of the acquisition, Beats co-founders Jimmy Iovine and Dr. Dre will join Apple.

Apple is acquiring the two companies for a total of $3 billion, consisting of a purchase price of approximately $2.6 billion and approximately $400 million that will vest over time. Subject to regulatory approvals, Apple expects the transaction to close in fiscal Q4.

“Music is such an important part of all of our lives and holds a special place within our hearts at Apple,” said Tim Cook, Apple’s CEO. “That’s why we have kept investing in music and are bringing together these extraordinary teams so we can continue to create the most innovative music products and services in the world.”

Formally established in 2008 as the brainchild of artist and producer Dr. Dre and Chairman of Interscope Geffen A&M Records Jimmy Iovine, Beats Electronics comprises the Beats by Dr. Dre family of premium consumer headphones, earphones, and speakers as well as patented Beats Audio software technology and streaming music subscription service Beats Music.

USA, Cupertino, CA & Santa Monica, CA

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RapidFire acquires the In-Game Advertising Technology of IGA Worldwide

May 27, 2014 — Fusion DigiNet

RapidFire Acquires the In-Game Advertising Technology of IGA WorldwideRapidFire, an in-game advertising company, has acquired IGA Worldwide‘s proprietary technology for delivering real-time advertisements inside of video games.

IGA Worldwide’s technology, known as the Radial Network™, enables brands and advertisers to reach gamers playing AAA game titles across console, computer, and mobile video games. Advertisements are streamed in real-time inside of a video game’s 3D environment on objects such as billboards, hoardings, buses, and posters – essentially any object where a gamer is likely to see an advert in real life.
As part of the deal, RapidFire will take ownership of the Radial Network™ ad servers and software development kits, and will immediately replace the pre-existing RapidFire in-game ad serving technology.

“We’re ecstatic about the deal and what it means for RapidFire’s growth,” says Jordan L. Howard, the 23 year old Founder and CEO. “IGA Worldwide was a pioneer in the in-game advertising industry, and spent many years perfecting their ad serving technology. With the Radial Network™ technology we’ll have a much more robust system, and will be able to provide unparalleled service to both our media buying clients and our game developer partners.”

Canada, Vancouver & USA, New York, NY

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RPS Group plc acquires GaiaTech Holdings for £18.5M

May 22, 2014 — Fusion DigiNet

RPSlogoRPS Group plc has acquired GaiaTech Holdings Inc, a US based environmental consultancy, for an enterprise value of US$34.0 million (£20.2 million).

GT was founded in 1993 and has its headquarters in Chicago, with other offices in Atlanta and Dallas. Its 85 staff have a broad range of environmental, scientific and engineering skills. They are largely deployed providing risk management advice to the US industrial sector and its investors and advisors in both transaction related due diligence and its manufacturing and distribution operations.  The company also uses an extensive team of sub-consultants on a project basis.  After closing, GT will form part of our Built and Natural Environment: North America segment.

The business was largely owned by a private equity firm and its CEO. A number of other directors and a number of the staff had GaiaTechequity or stock option holdings. The CEO and all directors and staff equity and option holders are remaining with the business.

In the year ended 31 December 2013, GT had gross revenue of US$31.9 million (£19.0 million) and net revenue of US$15.4 million (£9.2 million). Profit before tax in 2013 was US$4.8 million (£2.9 million), after adjustment for non-recurring items. Profit after tax was US$2.9 million (£1.7 million). Net assets at 31 December 2013 were US$7.8 million (£4.7 million). Gross assets at 31 December 2013 were US$21.1 million (£12.6 million).

The consideration paid at completion was US$26.0 million (£15.5 million).  The remainder of the consideration, US$5.1 million (£3.0 million), was paid into escrow to settle any contractual claims. The balance in the escrow, net of any claims, will be released in phases over a period of 18 months after completion. Debt of US$6.7 million (£4.0 million) was settled at completion. There was approximately US$3.9 million (£2.3 million) of cash in the GT balance sheet at completion.  As part of the transaction RPS will be acquiring tax benefits with a net present value in cash terms of about US$4.9 million (£2.9 million) that will accrue over the next nine years.

Alan Hearne, Chief Executive of RPS, commented: “It is an important element of the Group’s strategy to develop our presence in North America’s environmental consultancy market. GaiaTech is a business we have followed for a number of years. It will make an important contribution to the development of our US activities.”

UK, Abingdon, Oxfordshire & USA, Chicago, IL

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Discovery Communications and Liberty Global to acquire All3Media

May 8, 2014 — Fusion DigiNet

all3LogoSky News is reporting that Discovery Communications and Liberty Global are forming a joint venture to acquire All3Media, which is owned by the London-based private equity group Permira. The deal is expected to value All3Media at more than £550m. The transaction, is expected to be announced on Friday.

Fusion DigiNet previously reported that All3Media was considering a sale in April 2011.

all3media was formed in 2003 following the acquisition of Chrysalis Group’s TV division in September 2003, led by Steve Morrison, David Liddiment, Jules Burns and John Pfeil. In September 2006, Permira became all3media’s majority shareholder.

Since November 2012 All3Media has been led by Farah Ramzan Golant. Previously Farah had a 25 year career in advertising, rising through the ranks of AMV BBDO. She serves on the Board of Trustees of the National Theatre, the Prime Minister’s Business Advisory Group and the Advisory Board of the Cambridge Judge Business School.

all3media group comprises eighteen production companies, independent creators of TV and multi-platform programming from around the world. Its TV shows include Gogglebox, Midsomer Murders, Shameless and Skins.

UK, London & USA, Englewood, CO & USA, Silver Spring, MA

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ITV acquires Leftfield Entertainment Group

May 7, 2014 — Fusion DigiNet

itvITV plc is to acquire a controlling interest in Leftfield Entertainment Group from its founder and CEO Brent Montgomery. This acquisition, which has already gained regulatory approval, makes ITV Studios US Group the largest unscripted independent producer in the US and will be earnings enhancing from day one. Brent Montgomery will remain CEO of Leftfield Entertainment Group under ITV’s ownership.

Leftfield is a fast growing US independent producer of reality programmes who sold its first series in 2008. Leftfield also LeftFieldowns Sirens Media and has established two joint ventures – Loud Television and Outpost Entertainment. Together these businesses produce more than 300 hours of unscripted programming for over 30 US networks. The portfolio includes Pawn Stars, Counting Cars, American Restoration and Real Housewives of New Jersey.

ITV will make an initial cash payment of $360m for 80% of Leftfield, with further potential payments dependent upon Leftfield’s continued delivery of significant profit growth.

Leftfield Entertainment was formed in 2013 when Leftfield Pictures acquired Sirens Media. The company delivered $38m of EBITDA on a proforma basis in 2013 and ITV expects it to continue to deliver strong growth at a high margin into 2014 and beyond as the benefit of its acquisition of Sirens and its new joint ventures start to come through.

There are put and call options in place to buy the remaining 20% of Leftfield, under which a call can be exercised 3 years after the initial deal and a put and call at the end of year 5. The total maximum consideration for 100% of Leftfield is $800m, including the initial payment. This would only be paid if Leftfield delivers average EBITDA of at least $130m per annum between years 3 and 5.

Adam Crozier, Chief Executive of ITV plc, said, “Leftfield is a fantastic success story, rapidly growing from a single pilot to become one of the biggest indies in the US. The team has combined creativity with strong production expertise, with over 70% of the business coming from returning series and a pipeline of new ideas coming through in 2014 and into 2015 that is really encouraging. We are delighted that Brent and the team are joining ITV in what represents a significant addition to ITV Studios as we continue to build our global content business over the long term.”

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