GlobalData to acquire Research Views for £90M

April 4, 2018 — Fusion DigiNet

GlobalDataGlobalData Plc has agreed to acquire Research Views Limited for £90 million.  Research Views is controlled by GlobalData Chief Executive Officer Mike Danson amongst other shareholders.

Research Views is a portal for Oil & Gas and Power news and analysis. In FY17 the Research Views generated pro forma revenues of approximately £27.0m (an increase of 18.8% over the prior year) and EBITDA of £2.1 million.

Under the terms of the Acquisition, 15,957,447 new Ordinary Shares will be issued to the vendors of Research Views Limited (15.6% of the Existing Ordinary Shares), which equates to £90.0 million based on the volume weighted average price of an Existing Ordinary Share of 564 pence over the 30 days prior to the announcement of the possible acquisition.  GlobalData’s share price at the close of business on 23 February 2018, the last business day before the original announcement of the possible acquisition, was 547.5 pence.

In addition, net debt of £9.8 million will be assumed by the Company on Completion, which includes shareholder debt of £8.4 million. The Company will procure that the shareholder debt is repaid by the Research Views Group to Michael Danson and his associated companies on completion (such repayment to be funded by the Company’s existing banking facilities).

Commenting on the Acquisition, Bernard Cragg, Chairman of the Independent Committee of GlobalData, said: “This transaction consolidates the Group’s transformation into a global data and analytics business with a truly differentiated multi-industry offering. It is consistent with our focusing on data and analytics by strengthening our existing industry offerings and expanding the industries we cover.”

Completion is expected to occur following the General Meeting on 24 April 2018.

 UK, London

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Moneysupermarket.com to acquire home communications comparison business Decision Technologies

April 4, 2018 — Fusion DigiNet

moneysupermarket1Moneysupermarket is to acquire Decision Technologies Limited, a home communications and mobile phone comparison business, for £40 million.

Decision Technologies, known as Decision Tech, provides home communications comparison both as a B2B service and via its own consumer comparison brands such as broadbandchoices.co.uk. As a white-label provider, Decision Tech sits behind several of the UK’s comparison tools for home communications, including Moneysavingexpert.com. 

Decision Tech is headquartered in London and employs a team of over 40 staff. The business is forecasting £3.6 million adjusted EBITDA for the year to 31 March 2018. Following completion, Michael Phillips, Founder and CEO, and the Decision Tech management team will join the Group and continue to lead Decision Tech from their current offices in Holborn.

Mark Lewis, Moneysupermarket Chief Executive Officer, said: “Decision Tech is one of the UK’s leading platforms for helping consumers compare and choose home communications, broadband and mobile phone deals.  This is an area people find complex and confusing, and where there are plenty of savings to be made by customers”.

 UK, London

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Phoenix invests in Capital Economics

March 27, 2018 — Fusion DigiNet

Phoenix Equity PartnersPrivate equity firm Phoenix Equity Partners has acquired a controlling stake in independent research company Capital Economics. Phoenix’s investment, which values the business at circa £95m, will be made alongside the existing management team and shareholders. Roger Bootle will retain a significant stake in the business.

Capital Economics is one of the leading independent macro-economic research companies in the world. Their team of more than 60 experienced economists provide award-winning macro-economic, financial markets and sectoral analysis, forecasts and consultancy from offices in London, New York, Toronto, Singapore and Sydney. The business provides research subscriptions, data and events to approximately 1,500 global institutions.

Capital Economics’ existing backer LDC, the private equity arm of Lloyds Banking Group, will exit its minority stake. Since their investment in October 2014, the business has grown revenues by 30% to over £22.5m in its latest financial year, launched several new services and opened new offices in New York and Sydney. It has expanded the team by 30% to over 140 employees across its five locations.

The investment by Phoenix will allow Capital Economics to continue to accelerate its growth. Phoenix’s support will enable investments in new services and in technology to enhance and personalise client delivery. A number of potential acquisitions have also been identified.

Chris Neale, Partner at Phoenix, said: ‘Capital Economics is an exceptional business with outstanding economists and staff, and an unrivalled reputation for macro-economic insight. It has grown every year since inception, building up a global base of loyal repeat clients. Demand for high quality, independent research continues to increase and we are excited about the future potential of the business. We look forward to working with Bob and the team to help accelerate growth over the coming years.’

UK, London

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Byron Allen’s Entertainment Studios Inc. acquires The Weather Channel

March 22, 2018 — Fusion DigiNet

Entertainment StudiosEntertainment Studios, one of the largest independent producers and distributors of film and television with nearly 160 million aggregate subscribers across the US, has acquired The Weather Group, parent company of The Weather Channel television network and Local Now streaming service. Byron Allen, founder and owner of Entertainment Studios, purchased the Weather Group through his company, Allen Media LLC, from The Blackstone Group, Bain Capital, and Comcast/NBC Universal.

The Weather Channel is one of the largest cable television networks not owned by a major conglomerate and is the nation’s only 24-hour source of national storm coverage. Harris Poll has ranked The Weather Channel as the “TV News Brand of the Year” for eight years in a row. The network recently launched a community platform, weloveweather.tv, to create a two-way dialogue with fans.

Allen said, “The Weather Channel is one of the most trusted and extremely important cable networks, with information vitally important to the safety and protection of our lives. We welcome The Weather Channel, which has been seen in American households for nearly four decades, to our cable television networks division. The acquisition of The Weather Channel is strategic, as we begin our process of investing billions of dollars over the next five years to acquire some of the best media assets around the world.”

USA, Los Angeles, CA & Atlanta, GA

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Future plc acquires five specialist consumer titles from Haymarket Media Group for £14M

March 21, 2018 — Fusion DigiNet

Future plcFuture plc, the global platform for specialist media, is to acquire five specialist consumer titles from Haymarket Media Group – What Hi-Fi?, Stuff, FourFourTwo, Practical Caravan and Practical Motorhome – for a consideration of up to £14 million, the majority of which is in the form of cash, with the balance in shares. The titles generated revenue of £12 million in the last financial year to June 2017. The consideration shares are subject to lock-up restrictions for three months from the date of issue.

The intended acquisition of popular brand What Hi-Fi? provides an entry into the complementary audio visual market, whilst Stuff complements Future’s existing technology brands. The acquisition of Stuff is conditional on Competition and Markets Authority approval. FourFourTwo will give Future access to the football audience during World Cup Year, whilst Practical Caravan and Practical Motorhome provide a strong subscriptions proposition in the outdoor leisure market.

Zillah Byng-Thorne, CEO of Future, said, “This acquisition is a further demonstration of our strategy to develop evergreen content that connects with communities and further diversifies our revenue streams. These titles are well established brands with strong market positions that expand and enhance our presence in existing verticals and extend our reach into new communities. We have a strong track record of integrating and leveraging acquisitions and we are confident that this deal will be earnings enhancing and drive further growth in operating profitability and cash generation.”

UK, Bath & London

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Informa publishes documents relating to recommended offer for UBM

March 19, 2018 — Fusion DigiNet

In January Informa and UBM announced the creation of combined B2B Information Services Group through an offer for UBM by Informa.

InformaInforma has now published information on the background and reasons for the Offer, the financial benefits, Informa’s intentions and strategic plans and the actions to be taken by shareholders. They have also published a Prospectus relating to the new shares to be issued to UBM shareholders by Informa in connection with the Offer, and the application for admitting new shares to the premium segment of the Official List and to trading on the London Stock Exchange’s main market for listed securities.

The information is available on Informa’s website HERE.

UBMIn addition, UBM has published its scheme document today, which contains, amongst other things, a letter from the Chairman of UBM, the full terms and conditions of the Scheme and the Offer, notices convening the Court Meeting and the UBM General Meeting, details of the Mix and Match Facility, an expected timetable of principal events and details of the actions to be taken by UBM shareholders. The Court Meting and the UBM General Meeting will take place on the same day as the Informa General Meeting.

The Scheme Document is available on the UBM website HERE.

Completion of the Offer is expected to occur in the second quarter of 2018.

UK, London

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Digital First Media acquires the Boston Herald for $11.9M

March 19, 2018 — Fusion DigiNet

Digital First MediaDigital First Media, one of the largest publishers of locally based print and online media in the United States, has completed the acquisition of the Boston Herald for $11.9 million at an auction in which they outbid competitors GateHouse Media and Florida private equity firm Revolution Capital Group. The auction followed Herald publisher Patrick Purcell filing for Chapter 11 bankruptcy in December 2017, citing declining revenue and readership.

Established in 1846 as a single two-sided sheet of news published by a group of Boston printers, the Boston Herald today has a circulation of 64,500, with an online following at BostonHerald.com.

Guy Gilmore, DFM’s chief operating officer, said, “DFM is pleased to have the opportunity to be a part of the Boston Herald through the next chapter of its storied history. The Herald is integral to the fabric of the great city of Boston”.

USA, Denver, CO & Boston, MA

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Hatched Media acquires fellow Australian independent FRANk Media

March 19, 2018 — Fusion DigiNet

Hatched MediaMelbourne-based independent agency Hatched Media has announced the merger and acquisition of fellow independent FRANk Media. No details of the transaction were disclosed.

FRANk Media was established in 2000 and offers communications planning, content marketing, programmatic, strategy, media buying, CRM, EDM, research, customer insight, PR, SEM, SEO, social media strategy and management, social media advertising, social media training and workshops, reporting, analytics and media planning, negotiation and buying. Owned and run by industry veteran Martyn Thomas, FRANk has transitioned all staff and clients across to Hatched to bolster the overall agency offering under the one roof.

Hatched founder and owner Jack Byrne said he has long admired Thomas and the FRANk team’s approach to its clients’ business, “Not only will their experience and strong strategic offering across communications be a welcome addition to the current offering, but culturally we are naturally aligned due to the high value we place on our people and level of care to our clients, which has ensured a seamless transition as a merged entity thus far,” he said.

Hatched will be adding FRANk’s current client list, which includes American Tourister, High Sierra, IXL Home, Lifestyle Communities, Movember, Luna Park (Melbourne), Lipault Paris, Sub Zero & Wolf, St John Ambulance (Victoria and NSW) and Sumitomo Rubber to their current list of clients, which include Automotive Brands Group, Dairy Australia, Sensis (Yellow Pages and White Pages), Fernwood Fitness, Dennis Family Homes, Strike Bowling, Henley Homes, Village Cinemas, Hairhouse Warehouse, Boost Juice, Capi Sparkling, and CBUS Property.

Australia, Melbourne

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Inspired Energy acquires SystemsLink 2000 Limited and Energy Cost Management Limited

March 18, 2018 — Fusion DigiNet

Inspired Energy has acquired SystemsLink 2000 Limited, a supplier of energy management software, in a £3.8m deal and Energy Cost Management Limited, a specialist provider of water and energy management services in a £1.5m deal.

SystemsLink is a supplier of energy management software, enabling public and private sector customers to effectively monitor and manage their utilities consumption. ECM provides a range of water management services to corporate customers, including water procurement, bill validation, retrospective audit of water bills, leak detection and repair and compliance services.

Commenting on the acquisitions, Mark Dickinson, CEO of Inspired Energy, said: “We are delighted to conclude the acquisitions of SystemsLink and ECM, which are highly complementary additions to Inspired Energy’s core Corporate Division. These acquisitions broaden our customer base and further enhance our sector specialisms and service offering.

UK, Kirkham, Lancashire & Bedford

 

 

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Silver Lake Partners and Battery Ventures to acquire EDR from DMGT for $205M

March 13, 2018 — Fusion DigiNet

Silver LakeSilver Lake and Battery Ventures have agreed to acquire EDR, a leading provider of real estate data and software-as-a-service, from the Daily Mail and General Trust plc for $205m. The investors areBattery Ventures global, growth-oriented firms focused on partnerships with market-leading technology companies. The transaction is expected to close in the coming weeks and is subject to
customary closing conditions.

EDR is a leader in property due-diligence and risk management technology and information. The company’s solutions enable clients — including environmental consultants and engineers, appraisers, and lenders — to manage real estate due diligence processes efficiently and effectively.

Joe Osnoss, Managing Director at Silver Lake, said, ”The real estate sector is continuing to evolve with the introduction of new technologies. EDR has a rich history of thought leadership in this area, and we plan to invest behind the company’s developing product roadmap to serve its important client ecosystem.”

Battery Ventures General Partner Scott Tobin added, ”We look forward to working closely with Chris Aronson and EDR’s management team. We believe that our investment will enable EDR to accelerate growth — including in the state-of-the-art Collateral360 SaaS platform — and extend its reputation as a leader in real estate data and software with a developing range of products and services.”

UK, London & USA, Shelton, CT

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