Fitch Group acquires Fulcrum Financial Data

May 31, 2018 — Fusion DigiNet

Fitch GroupFitch Group, a unit of Hearst, is to acquire Fulcrum Financial Data, the provider of leveraged finance and distressed debt analysis, news and data, from Leeds Equity Partners. The terms of the transaction were not disclosed.

Fulcrum Financial Data includes financial news brands such as Covenant Review, LevFin Insights, CapitalStructure and PacerMonitor, and will become part of the group’s Fitch Solutions division. Fitch Solutions provides credit and macro intelligence, and is the primary distributor of Fitch Ratings content. Fulcrum CEO Steve Miller will continue to lead the business, reporting to Dr. Ranjit Tinaikar, President of Fitch Solutions.

Paul Taylor, President and CEO of Fitch Group, said, “Fulcrum’s leveraged and distressed debt expertise is a strong complement to our Fitch Ratings business, where we already have great presence and momentum in these markets. Adding such influential brands as Covenant Review and LevFin Insights reinforces Fitch’s role as a leading source of information, insights and tools for leveraged finance market participants.”

USA, New York NY

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Keywords Studios acquires Fire Without Smoke

May 30, 2018 — Fusion DigiNet

keywordsKeywords Studios, the technical services provider to the video games industry, has acquired Fire Without Smoke Ltd for up to £5.2m. 

Headquartered in London and with a studio in Montreal, Fire Without Smoke provides a suite of creative and marketing services to game publishers and developers, creating assets such as game trailers, marketing art and materials for esports events, and providing marketing consultancy and general design services to the video game industry. 

Founded in 2013, Fire Without Smoke works with major game publishers such as Sony, Square Enix, Riot Games, Deep Silver, Sega, Capcom and Ubisoft. The company has around 40 staff  working in London and Montréal

Keywords Studios is acquiring the business from the founders Will O’Connor, Michael David Thomson plus other shareholders. Will O’Connor will continue as Managing Director. David Thomson and the the rest of the team, will also remain with the business. 

For the year ending 31 May 2018, Fire Without Smoke is expected to have revenues of £2.8 million and adjusted profits before tax of £0.7 million.  Keywords Studios is paying £3.85 million in cash, £0.5m of which is deferred until the first anniversary of the acquisition and subject to performance targets, and the issue of 77,006 new ordinary shares in Keywords Studios, which will be issued to the Sellers on the first anniversary of the acquisition and will then be subject to orderly market provisions for a further 12 months.

Andrew Day, CEO of Keywords Studios commented: “Fire Without Smoke’s specialised offering represents an excellent addition to the Group’s existing capabilities and adds some exciting new services to our global service platform. Their high end video game trailers expertise will be of great interest to Keywords’ large client base, as will their broad suite of creative services, which range from marketing strategy to providing marketing content for events including esports tournaments, which can play a significant role in influencing the success of event and game launches.

Ireland, Dublin & UK, London & Canada, Montréal

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Kaltura acquires Rapt Media

May 25, 2018 — Fusion DigiNet

KalturaKaltura, the leading video technology provider, has acquired the interactive personalized video startup Rapt Media for an undisclosed amount.

Rapt Media, which was founded in 2011 and raised $12 million in funding, offers customers interactive video technology ideal for personalized marketing, customer education, recruitment, learning and educational video experiences. Viewers are guided through different video paths depending on their behaviour or selection at each level. Rapt Media customers – including Mercedes, EMC Dell, Alight Solutions, and eBay- will now become Kaltura customers and gain access to Kaltura’s wide range of video solutions.

Ron Yekutiel, Chairman, CEO, and Co-Founder of Kaltura, said, “We are excited to acquire Rapt Media and incorporate its unique video-branching technology into our portfolio of video solutions for any organization. Video is the most engaging medium, and videos that are personalized and interactive make for the most lean-forward and engaging experiences of them all. As the leading provider of video solutions for any organization, we are leading the charge in video interactivity and personalization and investing heavily (and acquiring) in the areas of smart video analysis, analytics, and AI tools. Our goal is to automate the real-time creation of personalized video and extraction of rich metadata, to optimize their delivery at the right time to the right audience, and to offer them the most engaging video experience”.

USA, New York, NY & Boulder, CO

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Tarsus and EJK acquire a 60% interest of Expo Restaurantes in Mexico

May 24, 2018 — Fusion DigiNet

exporestaurantesE.J. Krause and Associates and Tarsus have acquired a 60% interest of Expo Restaurantes. Established 18 years ago Expo Restaurantes is a restaurant supplier show in Mexico. The terms of the deal were not disclosed.

The deal also includes Pescamar (the leading fish and seafood exhibition in Mexico) which is co-located with Expo Restaurantes and is sponsored by both the Agriculture Ministry in Mexico as well as CONAPESCA (the National Commission of Fish and Aquaculture).

Ned Krause, President and CEO of E.J. Krause and Associates said: “I am excited by this new acquisition in Mexico given that E.J. Krause and Tarsus have a long and successful history of working together in this market. Expo Restaurantes and Pescamar are perfect vehicles for us to enter this growing market in Mexico.”

Douglas Emslie, Tarsus Group Managing Director, said: “We are happy to be growing our portfolio of events in Mexico with our established partner EJ Krause. The team will also work closely with our World Food Expo (WOFEX) event in South East Asia to exploit the synergies between each of them to grow, broaden and further internationalise.”

The next edition of Expo Restaurantes will be held on 27-29 June 2018 in the World Trade Center, Mexico City.

Related reporting: Tarsus form joint venture with EJK in Mexico Posted on November 27, 2013

UK, London & USA, Bethesda, MD & Mexico, Mexico City

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EA acquires Gamefly’s cloud gaming technology & talent

May 22, 2018 — Fusion DigiNet

Electronic ArtsElectronic Arts Inc. has acquired the cloud gaming technology assets and personnel of a wholly owned subsidiary of video game rental company GameFly, Inc. The terms of the transaction were not disclosed.

Los Angeles-headquartered GameFly acquired Israel-based cloud gaming company Playcast Media Systems in 2015. The team will join EA’s functional teams, including the central technology organisation that is responsible for developing and operating the cutting-edge platform that powers EA’s leading games and services.

Cloud gaming opens up new possibilities to expand the reach of games by streaming high-quality entertainment to more players, on more devices, in more geographic regions of the world. With this acquisition, EA is adding to its strategic focus on advanced technologies that will give players more freedom to access the games they want, and enable the delivery of next-generation experiences at scale.

Ken Moss, Chief Technology Officer of Electronic Arts, said, “Cloud gaming is an exciting frontier that will help us to give even more players the ability to experience games on any device from anywhere. We’re thrilled to bring this talented team’s expertise into EA as we continue to innovate and expand the future of games and play.”

USA, Redwood City, CA & Israel, Caesarea

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DMGT to recommend Silver Lake’s recommended cash offer for Zoopla

May 11, 2018 — Fusion DigiNet

SilverLake ManagementZephyr Bidco, a subsidiary of Silver Lake Management Company V, and ZPG Plc, the owners of Zoopla, have reached agreement on the terms of a recommended cash acquisition of the entire share capital of ZPG Plc for 490p per ordinary share, a material premium to the volume weighted average price for the three month period ended 10 May 2018.

The Board of ZPG Plc, which includes two representatives of DMGT, intends to unanimously recommend this offer to ZPG Plc shareholders and DMGT has given an irrevocable undertaking to accept the offer in respect of its entire holding, amounting to 29.8% of ZPG Plc’s issued share capital.  If approved, the transaction will become effective in the third quarter of calendar year 2018.

DMGT has been invested in Zoopla Property Group since 2012, when DMGT’s online property business, the Digital Property Group, merged with Zoopla. DMGT subsequently held a 55% stake in the combined entity.  DMGT maintained its support through ZPG Plc’s IPO in 2014.

Paul Zwillenberg, Chief Executive, commented: “The recommended all cash offer for ZPG promises to deliver a very significant return for DMGT.  The sale of our stake, pending shareholder approval at ZPG, fits with our long track record of successfully identifying new opportunities, incubating young businesses and supporting their growth to create value for shareholders.”

USA, Menlo Park, CA & UK, London

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Content production company CreativeDrive acquires Zebra Worldwide

May 9, 2018 — Fusion DigiNet

CreativeDriveIndependent global content production company CreativeDrive has acquired Zebra Worldwide to combine CreativeDrive’s network of over 150 studios in the U.S., Latin America, Asia and Europe with Zebra’s portfolio of video and content production and localization offices across London, Paris, Cape Town, Kiev and Sydney. The terms of the transaction were not disclosed.

Zebra Worldwide was founded by Management Consultant Luke Hammersley and Creative Director/Writer Nic Franklin as a production company in May 2005. Zebra is a major international content partner for brands and agencies, providing still and moving image production, post-production, localisation and associated technology services through their office network. Through their independent client base and long-standing moving image localization partnership with adam&eve DDB, Zebra work with global brands such as Reckitt Benckiser, Hilton, Ryobi Powertools, Hotels.com, and in 2017 were live in over 100 markets internationally.

Zebra Worldwide will retain its identity in the short-term, eventually transitioning to become CreativeDrive EMEA in the coming months. Zebra Worldwide CEO and founder Luke Hammersley will become CreativeDrive EMEA CEO, reporting to CreativeDrive’s Global CEO, Myles Peacock. Nic Franklin becomes Creative Director and MD, Cape Town. Sarah Rose has been promoted from Finance Director to COO, EMEA.

CreativeDrive Global CEO Myles Peacock, said: “Zebra’s ability to deliver world class video and content production through their global teams and powerful localization platform addresses brands’ insatiable need for content that is customized for specific regions and cultures. The entire Zebra Worldwide team is a natural fit to both our existing culture and our mission to continuously challenge the status quo by consistently producing high-quality content with unparalleled speed and scale.”

USA, New York, NY & UK, London

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Kew Media Group to acquire Essential Quail Media Group

April 30, 2018 — Fusion DigiNet

Kew Media GroupKew Media Group Inc. has agreed to acquire Essential Quail Media Group for an initial purchase price of AUD$32.8 million (C$31.9 million based on the current CAD/AUD FX rate of approximately 0.972), comprised of AUD$20.0 million (C$19.4 million) in cash and AUD$12.8 million (C$12.4 million) in Class B shares of KEW valued at C$10.00 per share.

EQ Media combines several entities with aggregate pro forma revenue of over AUD$60 million (C$58 million). The initial purchase price represents a transaction multiple of approximately 3.2x EQ Media’s estimated Adjusted EBITDA of AUD$10.2 million (C$9.9 million) for its fiscal year ending June 30, 2018. The cash portion of the initial purchase price will be funded through cash on hand and KEW’s credit facilities. The vendors may receive additional consideration in the future, conditional upon EQ Media meeting certain financial targets and other tests, which are described below.

EQ Media is a leading independent producer of high quality content for international audiences operating from offices in Los Angeles and Dallas-Fort Worth in the U.S. and Sydney, Australia. EQ Media produces content in a variety of genres, particularly non-scripted television series, for broadcast customers worldwide. Buyers of EQ Media’s programming include DIY, HGTV, Cooking Channel, Animal Planet, ABC Australia, SBS, Foxtel Networks 7, 9 & 10, BBC, National Geographic, PBS, Discovery, Sundance, History Channel, Arte, Netflix and Fox Network. EQ Media also has a longstanding relationship with Scripps Networks (now part of Discovery Inc.), producing more than a dozen full series orders and pilots together.

Steven Silver, KEW Founder & CEO, said, “EQ Media is an exciting addition to the KEW group and the transaction purchase price is an attractive valuation for such a prominent content producer. We expect the acquisition to be immediately accretive to earnings and to free cash flow. In addition, we expect to generate meaningful synergies from the sale of additional EQ Media content through KEW’s global distribution platform.”

Canada, Toronto & USA, Los Angeles, CA

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Sinclair Broadcast Group to sell TV stations as part of Tribune acquisition

April 24, 2018 — Fusion DigiNet

SinclairSinclair Broadcast Group Inc is selling 23 television stations to several companies after completing its $3.9 billion acquisition of Tribune Media.

The sales are to obtain the necessary governmental approval of the Tribune transaction, the company said, as it has worked for months to win regulatory approval for the deal.

Chris Ripley, President and CEO of Sinclair, said, “After a very robust divestiture process, with strong interest from many parties, we have achieved healthy multiples on the stations we are divesting. While we continue to believe that we had a strong and supportable rationale for not having to divest stations, we are happy to announce this significant step forward in our plan to create a leading broadcast platform with local focus and national reach. The combined company will continue to advance industry technology, including the Next Generation Broadcast Platform, and to benefit from significant revenue and expense synergies”.

Standard Media Group, an affiliate of Standard General L.P., will acquire the following nine television stations in seven markets for $441.7 million in cash:

KOKH-TV, Oklahoma City, OK (affiliated to FOX)
WXMI, Grand Rapids-Kalamazoo-Battle Creek, MI (affiliated to FOX)
WPMT, Harrisburg-Lancaster-Lebanon-York, PA (affiliated to FOX)
WXLV-TV, Greensboro-High Point-Winston Salem, NC (affiliated to ABC)
WRLH-TV, Richmond-Petersburg, VA (affiliated to FOX)
WOLF-TV (1), Wilkes Barre-Hazelton-Scranton, PA (affiliated to FOX)
WSWB (1), Wilkes Barre-Hazelton-Scranton, PA (affiliated to CW)
WQMY (1), Wilkes Barre-Hazelton-Scranton, PA (affiliated to MY)
KDSM-TV, Des Moines-Ames, IA (affiliated to FOX)
(1) Sinclair is not the licensee of these stations and will only be selling the assets of such stations that Sinclair owns, together with its right to purchase the licenses of the stations.

Meredith Corp will acquire CW-affiliated KPLR-11 in St. Louis for $65 million. Additionally, three stations are going to Howard Stirk and two are going to shared services agreement partner Cunningham Media. The buyer for the remaining seven stations is yet to be named.

USA, Hunt Valley, MD & Washington, WA & St Louis, MO & Baltimore, MD

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Freeman acquires Info Salons

April 17, 2018 — Fusion DigiNet

FreemanBrand experience company Freeman has acquired digital technology company Info Salons, a leading provider of registration and attendee database management solutions. The terms of the transaction were not disclosed.

With the acquisition, Freeman will benefit from Info Salons’ nearly 30 years of experience in the industry and its event technology solutions which aim to improve online and on-site registration processes and unlock attendee data and sales leads for show organizers. Going forward, Info Salons applications and tools will be fully integrated into the digital solutions offered by Freeman.

Richard Maranville, chief digital officer at Freeman, said, “We’re always looking for ways to simplify the event and show planning processes for our clients; and investing in leading digital technologies enables us to provide the robust capabilities show organizers need to thrive in the ever-evolving events industry. With the integration of Info Salons’ digital tools into our event management offerings, we’ll be better equipped to help our clients get the most out of their attendee data.”

USA, Dallas, TX & Australia, Surry Hills

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