Demand Media acquires CoveritLive

March 3, 2011 — Fusion DigiNet

Demand Media has acquired CoveritLive. Brands like ESPN, Ford, News Corp and BBC use CoveritLive to engage event audiences with real-time commentary, instant reader polling and question and answer capabilities. Events hosted on CoveritLive attract an audience of over 60 million people every month, 60% of which comes from outside the United States.

“CoveritLive really reflects our mission as a company – publishing what the world wants to know and share. Consumers around the world are tuning in by the millions to participate in live events powered by CoveritLive, collectively spending over a billion minutes on the platform each month” said Richard Rosenblatt, Chairman and CEO of Demand Media. “CoveritLive’s live event platform helps us continue to work towards that mission, building on both our social publishing model and our social media product offering with a platform that offers proven value to both brands and consumers.”

CoveritLive has grown rapidly as major brands increasingly use its live event platform. For instance, last weekend CoveritLive powered conversations during Sunday’s Oscar ceremonies on properties like People, TMZ, Entertainment Weekly, Variety and the Daily Beast. According to Google Analytics, on Oscar Sunday over 2 million people viewed event coverage powered by CoveritLive.
Demand Media and CoveritLive have worked together since 2009, when Demand Media made a strategic investment in CoveritLive. With that investment, Demand Media secured a minority interest in CoveritLive. With today’s acquisition, CoveritLive will become part of Demand Media’s portfolio of social solutions, along with its integrated community platform Pluck.

“Like Demand Media, we started CoveritLive to help fill the gaps in online content. We saw an opportunity to cover live events in a way that no one had before by combining talented writers, multimedia and two way engagement via comments and polls” said Keith McSpurren, President and Founder of CoveritLive. “As a Demand Media partner, our joint customers have seen the value of combining our service with Pluck’s integrated community platform. It’s a powerful combination that helps marketers engage consumers before, during and after an event.”

USA, Santa Monica, CA

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Johnson Controls to acquire EnergyConnect

March 3, 2011 — Fusion DigiNet

Johnson Controls has signed a merger agreement with EnergyConnect Group under which Johnson Controls will acquire the outstanding shares of the company. The transaction is expected to close in July.

EnergyConnect Group is a provider of smart grid demand response services and technologies. The acquisition of EnergyConnect will position Johnson Controls’ Building Efficiency business as a demand response leader in the large commercial, industrial and institutional markets.  EnergyConnect’s demand response technology and service platform provides energy managers and facility operators real-time energy information and access to energy markets, enabling them to control their energy spend.  The combination of energy efficiency, smart building technologies and demand response services creates an additional platform for growth in a rapidly growing segment of the energy market.

“As our customers continue to demand more sophisticated capabilities to manage their energy costs, integrating demand response services with energy efficiency makes EnergyConnect and Johnson Controls Building Efficiency a natural fit,” said C. David Myers, vice president, Johnson Controls and president, Building Efficiency. “Coupling EnergyConnect’s expertise in demand response with Johnson Controls’ strength in smart building technologies would enable us to expand our offerings and help our customers better manage their overall energy spend.”

“We are excited about the prospects of joining forces with Johnson Controls,” said Kevin Evans, president and Chief Executive Officer of EnergyConnect.  “In addition to the natural synergies in our businesses, the Johnson Controls’ global footprint and distribution channels would enable us to accelerate the transformation of electricity use in response to market prices while enhancing the efficiency and reliability of the grid.”

USA, Milwaukee, WI

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Publicis Groupe acquires Kitcatt Nohr

March 3, 2011 — Fusion DigiNet

Publicis Groupe has acquired Kitcatt Nohr, a UK-based, integrated agency. Kitcatt Nohr will be merged with Digitas in the UK, creating a new agency, Kitcatt Nohr Digitas, which will be part of VivaKi. The new entity Kitcatt Nohr Digitas will be headquartered in London

Kitcatt Nohr was founded in January 2002 by Creative Partner Paul Kitcatt, Managing Partner Marc Nohr, Client Partner Vonnie Alexander and Chairman Jeremy Shaw. Kitcatt Nohr employs 68 staff taking the total number to 150 at the newly formed agency. The newly formed agency has a client roster that includes Body Shop, British Olympic Association, Delta Airlines, John Lewis, Lexus, NS&I, P&G, Samsung, Shell, Toyota, and Waitrose.

Kitcatt Nohr Digitas management will be led by Marc Nohr, Chief Executive Officer and Paul Kitcatt, Chief Creative Officer. Both will report to Stephan Beringer, President, Digitas International. Sav Evangelou, Executive Creative Director of Digitas London, has been promoted to an international role with responsibility to several multinational clients. He will report to Mark Beeching, Chief Creative Officer of Digitas.

Stephan Beringer, President, Digitas International, “There are many synergies between Digitas and Kitcatt Nohr which both compliment and strengthen the agencies. This move enables us to offer clients a deeper and wider service on a global basis. It’s a win win for all.”

France, Paris & UK, London

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ITE Group acquires Krasnodar Expo

March 3, 2011 — Fusion DigiNet

ITE Group plc, the emerging and developing markets exhibitions specialist, today announces the acquisition of 100% of Krasnodar Expo LLC (‘the Company’) from its owners, a group of private shareholders. The total consideration is c. 410 million rubles (£8.8m), which is payable in cash, 50% on completion, and 50% deferred until audited figures are confirmed. The acquisition will be funded from existing cash and debt facilities.

Krasnodar is a significant exhibition business based in the South of Russia (EUREX: OMXR.EX – news) . The business has a portfolio of more than twenty exhibitions with annual volume sales of circa 50,000m2. Krasnodar’s largest annual exhibitions serve the construction and agriculture industries, amongst others. The portfolio of events is complementary to ITE’s existing exhibition interests and will both broaden and strengthen ITE’s presence in the increasingly important regional markets of Russia.

The business reported operating profit before tax of c. 90 million rubles (£1.9m) for the 2010 calendar year. This acquisition is expected to be earnings enhancing for the financial year ending 30 September 2011. The Company is a new entity which holds the trademarks and rights to run the exhibition business and had nil gross assets on completion.

Commenting on the acquisition, ITE’s Chief Executive Officer, Russell Taylor, said, “Krasnodar has a strong regional market position in the South of Russia which fits well with ITE’s current business. Krasnodar’s portfolio is complementary and the addition of this business is consistent with our strategy of expanding our regional presence in Russia.”

UK, London & Russia, Moscow

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Yahoo in talks to sell its share of Yahoo Japan for $8 billion

March 2, 2011 — Fusion DigiNet

Reuters is reporting that Yahoo! is in advanced talks to sell its 35 percent stake in Yahoo Japan to Softbank Corp, which already controls 42 percent of the unit. It will free up as much as $8 billion to fight Google and Facebook.

It is not clear what Yahoo is likely to do in China, where it owns about 40 percent of prominent Internet company, Alibaba Group, the parent company of Alibaba.com. Softbank also owns a stake in Alibaba.

Read the full story.

Japan, Tokyo

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Kenergy Scientific to acquire online game show iwonitlive.com

March 2, 2011 — Fusion DigiNet

NJ-Kenergy Scientific has completed a Letter of Intent to acquire all of the assets of I Won It Live Enterprises. These assets include all intellectual property, including trademarks, domain name and an operating on line game show that offers both unique advertising opportunities and revenue generating opportunities for Kenergy.

The website, http://www.iwonitlive.com is believed to be the first website to offer members instant prizes for winning on line games where players play live against other contestants. Mr. Michael Johnson, a successful pioneer in creative internet businesses, developed the concept in 1999 and recently developed and expanded the site. The current membership is growing daily and the site is expected to generate positive cash flow this year. The site affords Kenergy a continuous advertising opportunity to promote both the http://www.greensmartstore.com website, as well as store advertising. Kenergy and other companies will provide prizes and receive additional advertising at the games in the form of promotional presentations. Other companies will pay small advertising fees per game that are expected to grow rapidly.

Ken Glynn, President of Kenergy Scientific, stated that he would not attempt this venture without new personnel on the team and he also announced that two of the founders and the technical support team of I WON IT LIVE Enterprises will be coming on board to fully operate the website. Mike Johnson will be serving as CEO for the website and salaries will be based solely on commissions from site revenues. The acquisition costs will be payable over one year and will likely be fully paid from the site revenues. Glynn welcomed Johnson and his support team to the table and expects the transaction to be completed shortly.

USA, Flemington, NJ

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UBM disposes of French medical print business

March 1, 2011 — Fusion DigiNet

United Business Media has sold its French medical newspaper and magazine business to a management buyout team led by Gérard Kouchner, the business’s Chief Executive since 2005.  UBM has sold the business on behalf of its UBM Medica division and will retain a 37.1% equity stake.  The cash consideration was €4.4m and UBM has extended vendor finance of €6m to the management buyout team, valuing the transaction at €13m on an enterprise basis.

The business publishes weekly, bi-weekly, monthly and other subscription and controlled circulation titles for the French healthcare professional community.  It also has a number of smaller print media and customised marketing products for the French medical community.  In 2010 the business generated revenues of approximately €40m and employed around 170 staff at its Paris premises.

UK, London & France, Paris

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UBM disposes of UK licensed trade portfolio

March 1, 2011 — Fusion DigiNet

United Business Media is disposing of its UK licensed trade portfolio to William Reed for an initial cash consideration of £1.5m and further deferred performance-related consideration of up to £150,000. UBM is selling the portfolio on behalf of its UBM Connect division. The transaction is expected to close within a month, subject to the conclusion of a TUPE consultation process.

The sale of the portfolio – which comprises The Publican print magazine title, websites and awards event, together with the Theme and Bar Show brands – augments William Reed’s existing portfolio serving this market.

This transaction involves a total of 14 staff transfering to William Reed in accordance with the application of TUPE.

UK, London & West Sussex

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UBM acquires Indian travel tradeshow SATTE

March 1, 2011 — Fusion DigiNet

United Business Media has acquired SATTE, India’s largest travel and tourism exhibition. UBM has acquired the event on behalf of UBM Asia from Cross Section Publications Pvt Ltd.

Launched 17 years ago, SATTE  takes place each January in New Delhi and is now India’s largest travel and tourism event. The show performed strongly in 2011 attracting approximately 600 exhibitors and 9,300 attendees from more than 40 countries. SATTE has progressively expanded beyond its original focus on inbound travel to India and now also supports the outbound market. This reflects the rapid rise of domestic Indian spending on international travel. The 2011 edition of SATTE took place on 27 January.

SATTE is supported by T3, the leading controlled circulation monthly publication for the Indian travel indusry and which is an official publication at many of India’s travel industry events. T3 contributed around 15% of the business’s $1.6m revenues in 2010. Completion of the acquisition of T3 is subject to Indian regulatory approval. Approval is expected to be granted by the end of April. As at 31 March 2010, SATTE’s gross assets were £630,000.

Navin Berry, SATTE’s founder, owner and publisher of Cross Section will remain with the business post-completion. In addition to Mr Berry, the business employs 12 staff in New Delhi, Mumbai and Bangalore.

The acquisition is anticipated to exceed UBM’s cost of capital criterion in its first full year of ownership.

Jimé Essink, President & Chief Executive Officer of UBM Asia said, “The acquisition of SATTE brings us a leading position in India’s rapidly-growing travel and tourism industry and adds to our portfolio of tradeshows in India where we are already one of the country’s largest commercial event organisers. We are committed to continuing to invest in and expand our business in India, leveraging UBM’s existing worldwide interests in the travel and aviation markets.”

India, New Delhi, Mumbai and Bangalor

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UBM to acquire stake in Famdent, India’s largest dental exhibition and conference business

March 1, 2011 — Fusion DigiNet

United Business Media has agreed to form a joint venture with Drs Anil and Jyotika Arora to operate the Famdent dental exhibition and conference business in India. UBM will own 60% of the Famdent business, with the remainder of the business being owned by Drs Anil and Jyotika Arora. The transaction is expected to complete in the next three months. UBM is forming the joint venture on behalf of its UBM Medica business.

Established 11 years ago, Famdent (www.famdent.com) launched its first event for the professional dentistry community in Mumbai in 2005, adding its Delhi event in 2009. The shows combine exhibition and conference elements, between them attracting more than 120 exhibitors, 2,200 conference delegates and 3,300 exhibition visitors. The success of Famdent’s events reflects the rapid expansion of the Indian dentistry profession, estimated to be a $120 million industry and growing 15-20% annually. There are more than 100,000 qualified dentists currently practising in India, with around 13,000 new dentists entering the market each year from 191 dental colleges. India’s major cities now have approximately 12,000 dental clinics.

Famdent’s events are supported by an eponymous clinical dental publication which has a controlled circulation of up to 12,000 copies per quarter. The publication contributed around 30% of the business’ revenues in 2010.

Famdent’s founders, Drs Anil and Jyotika Arora, will remain with the business following the formation of the joint venture, together with a further 13 employees. For the year ended 31 March 2010, the business generated revenues of approximately £0.4 million. Its gross assets were £0.3m.

UBM’s investment in the joint venture is anticipated to provide a return in excess of UBM’s cost of capital criterion in its first full year of operation.

Henry Elkington, Chief Executive of UBM Medica said: “The creation of our Famdent joint venture brings us a leading position in India’s rapidly-growing dental industry. I look forward to working with Anil and Jyotika Arora to grow the Famdent shows and to extend them to new territories across India and Asia. With our expanded platform in this space, we will also seek to broaden our offering in other Indian medical exhibition and conference markets.”

India, Mumbai

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