Google acquires Incentive Targeting

December 1, 2012 — Fusion DigiNet

googleGoogle has acquired coupon targeting company Incentive Targeting. Terms of the deal have not been disclosed.

The acquisition was announced in a Tweet by Mike Dudas. Mike is on Google’s mobile commerce team. The Tweet reads, “Google acquires Incentive Targeting to power highly targeted manufacturer and private label coupon programs”

Here is the press release from Incentive Targeting:

We are excited to announce that Incentive Targeting has been acquired by Google!

When we founded Incentive Targeting in 2007, we set out to do for retail couponing what Google had done for online advertising: make it simple, relevant, measurable, and effective. So, it is both humbling and gratifying to be joining the ranks of the company that inspired our initial vision.

As part of Google, we will have the resources and expertise to continue the transformation of couponing from a way to give discounts to a way to build business. And, we can now work towards that vision as part of a company that improves the lives of hundreds of millions of people every day.

We didn’t reach this milestone alone. From day one, we have relied on the support and commitment of our retailers, brands, investors, partners, and advisors, as well as the hard work and dedication of our team. We could not have done this without them, and as we look ahead, we are thrilled to be part of Google!

– Ben, Josh, and the entire Incentive Targeting team

USA, Mountain View, CA & Cambridge, MA

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USA, Mountain View, CA & Cambridge, MA

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John Menzies acquires Orbital Marketing Services

November 29, 2012 — Fusion DigiNet

John Menzies plc subsidiary Menzies Distribution has acquired Orbital Marketing Services Group Limited for £13.6 million.  Orbital was 51% owned by BP Direct Mail Company Limited and 49% by Rydlings Limited, whose shareholders comprise the existing management team who will remain with the business.

Orbital comprises a portfolio of UK based logistics and marketing services businesses serving the travel, tourism, education, charity, publishing and healthcare sectors. The company was established in 1972 and it employs over 550 staff at 9 locations across the UK.

For the year to March 2012 Orbital reported an operating profit of £2.2m and gross assets of £13.5m.

Menzies are paying a total of £13.6 million with £7.7 million payable now and a further £5.9 million payable on 31 December 2014. Further consideration, up to a maximum of £6.3m may be payable only if exceptionally high levels of profit performance were to be achieved by December 2014.

Iain Napier, Chairman of John Menzies plc, said, “I am delighted that Menzies Distribution has acquired Orbital. This acquisition allows us to expand our printed media distribution footprint whilst also taking a large stride into adjacent growth areas. The team are now focussed on integrating these new businesses and driving through the significant synergies that have been identified. Orbital opens up new opportunities for us. The combined network will bring new reach to our logistical capabilities and allow us to expand some of Orbital’s services into new areas.”

UK, Edinburgh, Scotland & Asford, Kent

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Creston acquires DJM Digital Solutions

November 29, 2012 — Fusion DigiNet

Creston plc has acquired 75 per cent of the share capital of DJM Digital Solutions Ltd, a UK-based digital healthcare agency for up to £1.8 million. DJM’s founder, Dominic Marchant who will remain as Managing Director.

£1.2 million is being paid in cash. Net current assets of £0.3 million is retained within DJM. There will be a final cash payment based on average profit to March 2015 of up to £1.8 million which will be payable in June 2015. From April 2018 onwards the minority shareholders in DJM will have a request to put option and from April 2020 onwards Creston will have a call option, both options are for the remaining 25 per cent of DJM for a maximum consideration of £2.4 million.

For the financial year ended 31 July 2012, DJM’s unaudited statutory accounts reported revenues of £0.6 million and a pro-forma profit before taxation of £0.2 million, including a normalised shareholder Managing Director salary. As at 31 July 2012 DJM had net assets of £0.5 million.

Creston’s Health division and DJM have had a successful trading relationship for the past year and already have many clients in common (including AstraZeneca, Abbott and Takeda) at a UK, European and global level.  Recent collaborations between DJM and Creston Health have already led to new client work with Leo Pharma, UCB and Pfizer.

Based in Richmond, Surrey, and founded in 2001 with the aim of creating digital technology solutions for the healthcare and pharmaceutical industries, DJM employs 26 professionals with a broad spectrum of capabilities.

Commenting on the acquisition, Don Elgie, Group Chief Executive of Creston plc, said: “The healthcare industry has historically been very cautious about the use of digital marketing in light of the tight regulatory environment in which it operates. However, the rapid uptake of smartphones and tablets among physicians is revolutionising work practices and the pharmaceutical industry is having to adapt its marketing communications accordingly.

“In the UK, in an industry where digital has been adopted quite late compared to other business sectors, DJM is one of the largest and most respected independent digital healthcare agencies. Working with our other health companies, as part of Creston Health, we are confident that DJM will facilitate the continued growth of the division as digital becomes an ever-more significant element of our clients’ and prospective clients’ briefs.”

UK, London & Richmond, Surrey

 

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DMGT preliminary results – pre-tax profits up 64%

November 27, 2012 — Fusion DigiNet

Daily Mail and General Trust has reported its unaudited preliminary results for the year ended 30 September, 2012.

Total pre-tax profits rose 64% to £206.3 million. This included more than £100 million in charges and £150m in profits from disposals. Total revenues dropped by 1% to £1.96 billion.

MailOnline enjoyed a strong year of growth, recording a 74% increase in revenue to £28 million.

Northcliffe Media was the biggest surprise, contributing operating profit of £26 million (2011: £17 million) from revenues of £213 million (2011: £236 million).

Northcliffe Media, which is being sold to Local World venture, had reported a 37% fall in profits in 2011.

Martin Morgan, Chief Executive, said, “DMGT has delivered a good set of results in the 12 months to 30 September. Group adjusted pre-tax profits* rose by 10%. Our international B2B companies have increased their revenues and profits* by 7% and 8% respectively on an underlying# basis. Although our UK consumer businesses were impacted by challenging trading conditions, it was particularly pleasing that Associated was able to grow its revenues by 2% on an underlying# basis and that underlying# profits* for the consumer businesses rose 12% – reflecting greater productivity and efficiency linked to continued digitisation in that division.

We continued to refine our portfolio of businesses during the year with further acquisitions and disposals aimed at improving our long term growth potential. Today we are a more focused and financially stronger Group, leaving us well positioned for 2013 and beyond.”

Read the full announcement here.

UK, London

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Future Plc preliminary results – earnings boosted by digital growth

November 27, 2012 — Fusion DigiNet

Future plc has reported a rise in 2012 earnings with a 26% increase in operating profit to 6.8 million pounds. Revenue was down 13% to £123.5 million.

Digital growth was particularly strong. Group digital revenues were up 30% to £20.6m, with digital advertising accounting for 44% of total advertising. Visits to Future websites were up 70%, to more than 50m global unique users per month.

Mark Wood, Future’s Chief Executive, said: “This has been a year of substantial progress for Future and the Group is now well positioned to grow and diversify revenues as a global digital business. Our US operations have been restructured and are heading for profit in 2013. We are a leading publisher in tablet markets and our online audience has grown by 70% to more than 50 million unique users a month. These advances are opening new opportunities and we will accelerate Future’s digital transformation in the year ahead.”

UK, London

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McGraw-Hill to Sell Education Business to Apollo for $2.5 Billion

November 27, 2012 — Fusion DigiNet

McGraw-Hill  is to sell its McGraw-Hill Education business to Apollo Global Management for $2.5 billion.  Earlier reports suggested that McGraw-Hill had hoped to achieve a $3 billion sale.

McGraw-Hill announced a restructuring program in September 2011. After the sale of the education business McGraw-Hill will becoming a more focused financial services company and will change its name to McGraw-Hill Financial,

“After carefully considering all of the options for creating shareholder value, the McGraw-Hill Board of Directors concluded that this agreement generates the best value and certainty for our shareholders and will most favorably position the world-class assets of McGraw-Hill Education for long-term success,” said Harold McGraw III, Chairman, President and CEO of The McGraw-Hill Companies who will lead McGraw Hill Financial once the transaction is complete.  “We were able to secure an attractive outcome and create additional balance sheet flexibility for McGraw Hill Financial.”

The Company will use the estimated proceeds of approximately $1.9 billion, net of tax and closing adjustments, to “sustain its share repurchase program, to make selective tuck-in acquisitions that enhance McGraw Hill Financial’s portfolio of powerful brands, and to pay off any short-term borrowing obligations.”

McGraw-Hill received financial advice from Evercore Partners and Goldman, Sachs & Co., and legal advice from Wachtell, Lipton, Rosen & Katz and Clifford Chance.

Apollo received financial advice from Credit Suisse, UBS Investment Bank and BMO Financial Group.  The financing is provided by Credit Suisse, Morgan Stanley, Jefferies, UBS Investment Bank, Nomura and BMO.  Apollo received legal advice from Paul, Weiss, Rifkind, Wharton & Garrison LLP and Morgan, Lewis and Bockius LLP.

USA, New York, NY

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Local World to acquire the regional publishing assets of Northcliffe and Iliffe

November 21, 2012 — Fusion DigiNet

Local World, a newly formed company, is acquiring the regional publishing assets of the Northcliffe and Iliffe businesses and will have an agreed enterprise valuation of circa £100 million at completion. On a pro forma basis, Local World would have reported revenues of £273 million and operating profit of £21 million for the twelve months ended 30 September 2011, and would have had gross assets of £38 million at that date.

Key terms:

  • DMGT will to sell Northcliffe Media, its regional newspaper business for £52.5m in cash and a 38.7% shareholding in Local World. For the financial year ended 30 September 2011, Northcliffe Media had gross assets of £32m and made an operating profit of £17m.
  • The Iliffe family, owners of Yattendon Group, will sell Iliffe News & Media to Local World in exchange for a 21.3% shareholding in the new business.
  • Trinity Mirror will acquire a 20% shareholding in Local World for £14.2 million.
  • The remaining Local World shares will be purchased by other investors including Artefact Group, an Investment Fund associated with Lord Ashcroft, and Odey Asset Management.
  • Steve Auckland, currently Chief Executive of Northcliffe, will become CEO of Local World. Rachel Addison, Group Finance Director of Northcliffe, will assume the same role at the new company alongside a board of directors drawn from the main shareholders. The company will be chaired by David Montgomery.

Local World will become the fourth-largest regional newspaper publisher in the UK, with more than 107 print titles and 60 websites. DMGT will contribute more than 80 titles to the new venture, with another 36 coming from Iliffe News & Media.

Auckland said: “Local World will be a comprehensive local content provider, offering the best and most trusted source of news, views and advertising in print, online and mobile, to its local audiences in the UK. The new company will be well-resourced, entrepreneurial, and able to respond quickly to the differing requirements of local communities.”

Local World, with a combined weekly newspaper audience of 6 million readers and 7 million online users, aims to revitalise local media by offering fully integrated print and digital media services that focus on relevant content, advertising and local services across the UK.

The combined product portfolio of 63 local portal websites has a monthly audience of over seven million unique users. The print business includes 16 daily titles, 36 paid weeklies, 40 free weeklies, two Metro franchises and a number of niche products including magazines. Famous brands include the Cambridge Evening News, Leicester Mercury and Hull Daily Mail. The combined print portfolio has a weekly reach of six million people.

UK, London

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Viggle to acquire GetGlue for $25M cash and 48.3M shares

November 19, 2012 — Fusion DigiNet

Viggle Inc., the television loyalty service, is to acquire GetGlue, the social TV app. Viggle will pay $25 million in cash and 48.3 million shares of stock for GetGlue. Viggle Inc. will operate the Viggle and GetGlue brands, and GetGlue founder and CEO Alex Iskold will join Viggle Inc. in a senior executive position on its management team and as a member of its Board of Directors. Viggle will also absorb all 34 GetGlue employees.

Robert F.X. Sillerman, Executive Chairman and CEO of Viggle said,“With this deal, we are combining very experienced and creative product, engineering and management teams that will continue to build great user experiences and provide industry leading platforms for consumers, networks and advertisers. “We will also be vastly increasing the Viggle user base and quadrupling our network partnerships. Viggle and GetGlue users can look forward to using the apps they have come to love as we add new and appealing features made possible by the combined resources of this clear industry leader.”

Founded in 2007, New York City-based GetGlue has than 3.2 million registered users as well as a database with more than 500 million entertainment ratings and check-ins. GetGlueHD provides customers with a TV guide for the mobile era, listing both TV and online content in calendar form.

Today’s deal is another in a series of recent acquisitions by companies run by Sillerman. In the past five months, Sillerman’s SFX Entertainment bought two Electronic Dance Music companies – Disco Donnie Presents and Life in Color, (formerly Dayglow).

USA, New York

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Aegis Media acquires Netsociety

November 19, 2012 — Fusion DigiNet

Aegis Group plc has acquired Netsociety, a performance and search agency in the Netherlands and Belgium.

Netsociety, with offices in Amsterdam and Brussels, is a specialist performance marketing agency whose focus is on search marketing and digital performance media. Established in 2007, Netsociety has built a fast-growing business, with a diverse client base including Thomas Cook, ING, ABN AMRO and KLM.

The combination of Netsociety and iProspect will form a leading performance marketing agency in the Netherlands. Netsociety’s expertise and client base strengthens Aegis Media’s market position and is expected to generate the benefits of greater scale in the Netherlands and Belgium.

Julius Minnaar, CEO of Aegis Media Netherlands, said: “We are delighted to be acquiring Netsociety, which will enhance the prospects of our business in the Dutch and Belgian markets, ensuring we continue to produce outstanding work for our clients there. We welcome the Netsociety team into the fold and look forward to working with our new colleagues to leverage the exciting opportunities this acquisition will bring to our business in the Netherlands.”

UK, London & Netherlands, Amsterdam & Belgium, Brussels

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American City Business Journals acquires Streetwise Media,

November 17, 2012 — Fusion DigiNet

American City Business Journals, the USA’s largest print and online publisher of local business news, has acquired Streetwise Media, a Boston-based digital media company that uses a community publishing platform to cover local news. Terms of the transaction were not disclosed.

Streetwise currently operates two web sites – www.bostinno.com in Boston and www.inthecapital.com in Washington, D.C. – that focus on local news about business, innovation and technology, education, politics and lifestyles.  The sites are targeted at young professionals in their 20’s and 30’s.

Collectively, the Streetwise sites attracted more than 2.6 million unique visitors in the last month and had more than 9 million page views.

“In a short amount of time, Streetwise has attracted a very loyal and robust audience that is different from but complementary to what we do at our business journals in Boston, Washington and elsewhere,” said Whitney Shaw, president and chief executive officer of ACBJ.

“We’re looking forward to helping Streetwise grow its business significantly and feel that many of the things we experienced building American City have a direct application to their efforts.”

Streetwise founders Chase Garbarino and Kevin McCarthy will remain with the company as chief executive officer and chief technology officer, respectively.  The company will continue to be based in Boston.

USA, Charlotte, NC & Boston, MA

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