Supercell Invests $5M in Redemption Games

June 7, 2018 — Fusion DigiNet

Supercell FinlandFinland-based game company Supercell has made its first American investment with a $5 million minority stake in Redemption Games, an innovative game development studio in Carlsbad, California. Supercell is known for hit mobile gaming titles “Hay Day,” “Clash of Clans,” “Boom Beach,” and “Clash Royale.”

The investment is for a minority stake in Redemption Games, which will continue as an independent studio with full control of its operations, and is not part of a publishing relationship, but rather to support the development of new intellectual property and to bring it to market. Witz and Dan Lin, co-founders of Redemption, worked together for 20 years, collaborating for 10 of those in mobile gaming. They sold their prior company, Mob Science, to Jam City (previously SGN) in Los Angeles where they led the design and development of the top grossing game “Cookie Jam”.

Supercell CEO Ilkka Paananen, said, “In our investments, we are always looking for the best teams with great culture. Redemption Games has an amazing team of experienced developers, who have a solid track record and true passion for making great puzzle games. We’ve been impressed by their craftsmanship and distinctive approach to game development. This is our first investment outside of Europe and we couldn’t be more excited to partner up with the Redemption Games team.”

Finland, Helsinki & USA, Carlsbad, CA

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Bauer Media acquires three homes titles from News Corp

June 5, 2018 — Fusion DigiNet

Bauer Media GroupThe Bauer Media Group has acquired magazines Inside Out and Country Style and Homes website HomeLife.com.au from News Corp. The terms of the transaction were not disclosed.

The titles join Bauer’s existing suite of Homes magazines, which are Real Living, Australian House and Garden and Belle. These offerings are complemented by the publisher’s Homes to Love digital platform for this category.

The general manager for publishing at Bauer Media, Fiorella Di Santo, said, “We’re thrilled to bring Inside Out, Country Style and HomeLife.com.au to Bauer. Although we already have a strong position in the Homes category, this acquisition is a natural fit for us in terms of further deepening our category specialisation. We will now be part of the entire customer Homes journey, no matter what budget, geographical area or aesthetic.

Bauer CEO Paul Dykzeul said, “We are extremely pleased to announce this news as it’s a key milestone in delivering against our core strategic priorities, our strategic business growth and our commitment to invest in deep category specialisation. It is the first acquisition for Bauer in Australia since we bought beautyheaven in 2015, and it signifies our position of leadership as subject matter experts in this category.”

Germany, Hamburg & USA, New York, NY

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CRU Group acquires Steel Market Update

June 4, 2018 — Fusion DigiNet

CRU GroupCRU Group, the metals, mining and fertilizer consultancy, has acquired the US-based Steel Market Update conference, training and newsletter business. The terms of the transaction were not disclosed.

Founded in 2008, Steel Market Update provides and analyses real-time pricing, market trends, and relevant information related to the North American flat rolled steel market through its newsletter, website and events.

Robert Perlman, Chairman of CRU, said, “We are delighted to be joining forces with John and his team. Our businesses have a shared commitment to independent and insightful coverage of the steel market. CRU’s global position will be greatly strengthened by SMU’s coverage of North America. The SMU brand will go from strength to strength under the CRU umbrella.”

UK, London & USA, Hobe Sound, FL

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Warburg Pincus invests in Reorg Research

June 4, 2018 — Fusion DigiNet

Warburg PincusWarburg Pincus has acquired a controlling stake in Reorg Research, an industry-leading provider of real-time news, commentary, and analysis on issues affecting the distressed debt, event-driven and leveraged finance markets. Terms of the transaction were not disclosed.

Founded in 2013 by former distressed debt investor Kent Collier, Reorg leverages powerful proprietary technology to collect data in real-time and apply machine learning and natural language processing to filter the information, all in one easy-to-find place. The company also has a dedicated team of experts comprised of journalists, former lawyers and investment bankers that leverage Reorg’s proprietary technology to deliver industry-leading editorial content. Reorg currently has a suite of six SaaS-based products, each with a distinct value proposition, that a diverse and loyal global client base – including leading hedge funds, investment banks, law firms and financial advisors – uses to make better business and investment decisions.

This latest deal reflects heightened investor interest in providers of specialist content; the agreement follows Fitch Group’s purchase last week of Fulcrum Financial Data, a rival distressed-debt research firm whose publications include Covenant Review and LevFin Insights. In 2017, BC Partners sold a minority stake in Acuris, which publishes the trade publications Debtwire and Mergermarket, at a valuation of £1bn. Blackstone earlier this year bought a majority stake in Thomson Reuters Financial & Risk at a valuation of $20bn.

Kent Collier, the distressed-debt investor and blogger who launched Reorg in 2013, said, “Data is compounding at a geometric rate around the world and there is too much of it to be analysed by editorial talent alone”.

Chandler Reedy, Managing Director at Warburg Pincus, said, “Kent is a unique talent, and he and his team have built a highly differentiated business and technology platform with team of experts that synthesize and analyze real-time, mission-critical information highly sought by their customers. As the clear market leader with a proven growth model across multiple products and geographies, we believe Reorg is exceptionally well positioned for continued growth.”

USA, New York, NY

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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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Kelsey Media acquires Stuff gadget magazine from Haymarket

May 31, 2018 — Fusion DigiNet

Kelsey MediaKelsey Media has acquired best-selling gadget magazine Stuff from the Haymarket Media Group. The terms of the transaction were not disclosed.

Acquired by Haymarket in 1999, Stuff has kept its readers informed on global technological changes and has documented and explained major tech trends. In addition to the Stuff magazine, Stuff.TV filters the most important gadget news and happenings, keeping consumers in the loop with reviews, videos, how-tos, interviews and features.

Kelsey Media CEO Steve Wright sais, “Stuff was there at the start of the tech revolution and it’s inspired several generations of passionate tech-loving consumers since. I’m delighted that the Stuff team will be joining Kelsey and we’ll be working together to inspire the next generation of gadget fiends.”

UK, London & Cudham

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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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Quartz Sequoia acquires two Prysm events

May 29, 2018 — amybespoke

Quartz Business MediaQuartz Sequoia Events, organiser of Elevate, has acquired the Elite Sports and the sports rehabilitation COPA events from Prysm Group, extending its existing trade event portfolio within the sport, fitness and health sector. The terms of the transaction were not disclosed.

In May 2018 Elite Sports and COPA took place slightly earlier in the year, co-locating with Elevate in preparation for the acquisition. The shows reported an increase in visitors and a combined total of more than 8,000.

Max Quittenton, founder of Elevate, commented: “It’s a testament to the success of Elevate and the incredible support that we have seen by the industry, that we have been able to make this expansion and encompass over 300 exhibitors in our third year. The continued industry growth and enthusiasm to invest and innovate in health and fitness markets within the UK, has enabled us to create a strong community that seeks to promote physical activity for all. Elevate was created to bring together the fitness, healthcare and performance sectors, so this acquisition makes perfect sense.”

Elevate 2019 will continue to focus on the challenge of inactivity through inclusivity, innovation and scientific research. With more emphasis on elite sports, rehabilitation and healthcare; participants in the future can expect to find learnings from the performance sector more accessible and the research and valuable opinions of health experts strongly represented in high-level conference and seminar programmes.

UK, Redhill & Bristol

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YouGov acquires SMG Insight

May 29, 2018 — Fusion DigiNet

smg_0YouGov, a market research and data analytics group, has acquired SMG Insight Limited, a global sports research agency. During 2010, YouGov formed a strategic research partnership with SMG Insight to support the agency’s growth and the Company has since held a 20% stake in the business. YouGov is to acquire the remaining 80% stake.

SMG Insight specialises in media measurement and sponsorship evaluation in the sports sector. With operations in the UK, US, UAE, India and Australia, SMG Insight has developed a global network of industry contacts and sponsors including the ATP World Tour, Emirates and the Volvo Ocean Race.

The remaining 80% stake is being acquired from Frank Saez, the founder and Managing Director of SMG Insight, who will continue in his role leading the team of 55 employees.  

As at 31 March 2018, SMG Insight had gross assets of £2.4 million and it generated £1.2 million PBT in the year to 31 March 2018. Cash consideration of £1 million is payable at completion, with a further £1 million payable in 12 months, in addition to deferred consideration reflecting a 4.25x multiple of EBITDA to be paid over a three year period. Total consideration is capped at £21 million.

Stephan Shakespeare, CEO of YouGov, commented: “For the SMG team, this represents a logical and exciting development as they see a strong partner of many years become a strong and committed parent. Frank and his team are leaders in the industry, and this deal represents another positive step in line with our guiding strategy: to align differentiated products and services in a single connected data system and generate new opportunities for growth.”

UK, London

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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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