WPP increases its stake in IBOPE, Latin America’s data investment management group

December 17, 2014 — Fusion DigiNet

wppWPP’s wholly-owned media research and analytics business, Kantar Media, is to acquire the entire issued quota capital of IBOPE Participações Ltda, which holds a majority of the capital of IBOPE Pesquisa de Midia e Participações Ltda, IBOPE Latinoamericana SA and IMI.com (collectively the “IBOPE Media Group”).  WPP has been a minority shareowner in the IBOPE Media Group since 1997.

In addition, WPP will acquire the remaining 45% stake that it does not already own in Millward Brown do Brasil Ltda,  a market research agency,  already part of Kantar.  The Group will also acquire a 49% stake in IBOPE Inteligȇncia Pesquisa e Consultoria Ltda, the best-known political and social polling brand in Latin America.

Founded in 1942 in Rio de Janeiro, Brazil, as The Brazilian Institute of Public Opinion and Statistics, IBOPE is a provider of insight, information and data in the Brazilian and Latin American markets.  The IBOPE Media Group employs over 2,200 people in offices in 16 countries,  throughout Latin America and the United States. 

For the year ending 30 September 2013, IBOPE Media’s gross revenues were R$392 million, with gross assets of R$225 million as at the same date. Clients include media owners, investors and marketing communications agencies.  

Commenting on the deal, Sir Martin Sorrell, CEO, WPP said:  “I’m very pleased to welcome our long-standing partners at IBOPE fully into the WPP group. This acquisition further strengthens our capabilities in data investment management and at the same time in an important fast growth region. We intend to accelerate and deepen IBOPE’s investment plans in Latin America, enabling us to offer regional clients the critical data they need, both in stand-alone media research and also in ways that combine media and purchase data to even more powerful effect. “

UK, London & Brazil, Rio de Janeiro

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Porta Communications acquires Publicasity for £2.8M

December 16, 2014 — Fusion DigiNet

porta-logoPorta Communications PLC, the marketing and communications group, has acquired ICAS Holdings Limited and its 100% owned subsidiary which trades as Publicasity for £2.8 million.  Run by Zoe Ward-Waring and Tom Hargreaves, Publicasity, is a consumer public relations company specialising in the food & drink, travel & tourism, retail, home and fashion sectors.

publicasityThe agency’s 28 staff will relocate to Porta’s head office in Basinghall Street following the completion of the acquisition, and will work alongside Porta’s existing consumer PR company, Thirteen Communications.

In 2013 Publicasity produced profit before tax of £527,567 on a gross profit (fee income) of £3,073,712. Total assets less current liabilities were £2,165,714, including cash of £382,986.

Details of the acquisition

The consideration of £2,808,000 will be paid as £702,000 in cash, £702,000 in loan notes, with the balance of £1,404,000 in the form of 14,040,000 Porta ordinary 10p shares at 10p each.  The loan notes carry a coupon of 6 per cent and are redeemable for cash 12 months from the date of issue.  

The share consideration is subject to a 24 month lock-in period with a further 12 month orderly market period.  A further 2,457,000 Ordinary Shares may be issued as additional consideration should certain conditions be satisfied. However, both parties do not expect additional consideration shares to be issued at this time.

Commenting on the acquisition, Porta Chief Executive David Wright said:

“Publicasity will work alongside Thirteen Communications to create a far bigger and more diversified consumer PR offering within Porta.  This acquisition along with the previous acquisitions of WSM Print & Design and Digital, Redleaf Polhill and PPS made in 2014, mean that Porta is successfully progressing its acquisition strategy to supplement the strong organic growth in our existing dynamic businesses.  The acquisition of Publicasity should greatly enhance our ability to build a successful leading international brand given the quality of both teams and is expected to be earnings enhancing in 2015.”

UK, London

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Tiger Media to acquire Interactive Data, LLC

December 15, 2014 — Fusion DigiNet

Tiger MediaTiger Media, a Shanghai-based media company, is to acquire The Best One, Inc., parent company of U.S.-based data solutions provider Interactive Data, LLC. Interactive Data is headquartered in Atlanta, GA and has its primary technology office in Seattle, WA.

id-logo1Interactive Data’s recently expanded management team has been executing on an aggressive growth plan in a multi-billion dollar market of risk management and marketing data solutions.

Commenting on the Acquisition, Robert Fried, Chairman of Tiger Media stated, “We are excited to acquire TBO. We were looking for a U.S. partner who would also be able to expand our China operations. We believe this Acquisition with TBO will give our shareholders an excellent opportunity to realize increased value on their investment.”

Under the terms of the merger agreement, current shareholders of Tiger Media and TBO will own approximately 34% and 66% of the combined company, respectively, following the Acquisition. Approximately 65% of the shares to be issued to TBO shareholders in the Acquisition will be non-voting preferred stock, and 30% of those shares will only be issued upon achievement of certain revenue targets. The Acquisition is expected to close in the first quarter of 2015, is subject to customary conditions to closing as detailed in the merger agreement, as well as the affirmative vote of a majority of the outstanding shares of Tiger Media entitled to vote.

In connection with the Acquisition, Tiger Media will be redomesticating as a Delaware company. The affirmative vote of 2/3 of the votes cast at the Tiger Media meeting will be required for domestication in Delaware. The structure of the transaction will be in the form of an acquisition with TBO merging into a wholly-owned subsidiary of Tiger Media, with the Tiger Media subsidiary as the surviving corporation that will now be headquartered in Atlanta, GA.

Following the Acquisition, Derek Dubner, CEO of TBO, will join Tiger Media as Co-CEO along with Peter Tan, current CEO of Tiger Media. Robert Fried will remain Chairman of the Board. Also, following the Acquisition, Derek Dubner and Daniel MacLachlan will join the Tiger Media Board, increasing the Tiger Media Board from five members to seven members.

Cassel Salpeter is acting as financial advisor and Akerman LLP is acting as legal counsel to Tiger Media. Nason Yeager is acting as legal counsel to TBO.

Shanghai & USA, Atlanta, GA

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Yahoo completes acquisition of BrightRoll

December 15, 2014 — Fusion DigiNet

YahooYahoo! Inc. has completed its acquisition of BrightRoll, a programmatic video advertising platform. Yahoo paid approximately $640 million in cash.

See also – Yahoo to acquire BrightRoll for $640M Posted on November 13, 2014

brightrollBrightRoll is a profitable business with net revenues expected to exceed $100 million in 2014. The company has a team of around 400 employees.

USA, Sunnyvale, CA & San Francisco, CA

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Hearst Corporation to increase equity interest in Fitch Group to 80 percent 

December 12, 2014 — Fusion DigiNet

Hearst CorpHearst Corporation is to purchase an additional 30 percent interest in global ratings agency Fitch Group from Fimalac S.A., bringing Hearst’s equity interest to 80 percent. Fimalac will retain a 20 percent equity interest in Fitch Group. The transaction is valued at $1.965 billion.

FitchRatingsHearst acquired its original interest in Fitch Group in March 2006 and had most recently held 50 percent of the company. The transaction is expected to close in the first quarter of 2015 following receipt of all necessary regulatory approvals.

“We believe the credit rating, financial information and risk management services Fitch provides to the global financial community are critical in today’s economy,” said Steven R. Swartz, president and CEO of Hearst Corporation. “Strategically, Hearst continues to diversify into data and information-based companies while growing its world-class media assets. We are excited to continue to work with Fimalac and Marc Ladreit de Lacharrière to make Fitch Group an even bigger success.”

“Since the beginning of our relationship with Fitch, it has seemed to me that the company fits perfectly into the profile of businesses in which Hearst should seek to expand,” said Frank A. Bennack, Jr., former Hearst CEO and current executive vice chairman of Hearst Corporation. “The record of advances in the business over that period shows that excellent management is in place, our partners at Fimalac are aligned with us in strategy for the future and the diversification from our highly-valued traditional portfolio is proving to be rewarding. Stepping up from 50 percent to 80 percent makes great sense and we’re all excited.”

USA, New York

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Reliance Capital to sell its 16% stake in Indian travel portal Yatra.com

December 12, 2014 — Fusion DigiNet

yatraAccording to the Economic Times, Reliance Capital is to sell its 16 per cent stake in travel portal Yatra.com for an estimated Rs 500 crore (around $80 million) and is in talks with 2-3 international investors.

Other Yatra.com shareholders include Norwest Venture Partners – 30%, TV-18 group – 10%, Intel Cap – 7% and Valliant Capital – 10%. The management team owns 6%.

Founded in 2005, Yatra.com provides reservation facilities for more than 12,000 hotels in India and over 400,000 hotels around the world. It has an operating income of $51 million for the year.

India, Mumbai

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Moody’s completes acquisition of remaining stake in Copal Amba

December 12, 2014 — Fusion DigiNet

moodysMoody’s Corporation has completed its acquisition of the remaining shares of Copal Amba and now owns 100% of the company. Moody’s announced on September 30 that it had agreed to acquire the remaining minority stake in Copal Amba.

Copal Amba“We are continuing to expand Copal Amba’s capacity and capabilities to meet the strong demand for high-quality outsourced financial research and analytics,” said Linda S. Huber, Executive Vice President and Chief Financial Officer of Moody’s. “Moody’s is committed to building on Copal Amba’s extensive expertise to advance our global efficiency while continuing to grow Moody’s overall business.”

Copal Amba’s offshore research and analytics services support a wide range of clients, from global financial institutions and Fortune 100 corporations to boutique investment banks and asset managers. It was formed through Moody’s acquisitions of Copal Partners in 2011 and Amba Investment Services in 2013. Copal Amba operates seven service delivery centers and has approximately 2,500 staff worldwide.

The acquisition of the remaining shares in Copal Amba is not expected to have an impact on Moody’s earnings per share (EPS) in 2014 and is expected to be approximately $0.04 to $0.05 accretive to Moody’s EPS in 2015. Moody’s funded the acquisition from international cash on hand. The terms of the transaction were not disclosed.

USA, New York, NY

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Yonder acquires Sovetnik from Runa Capital

December 9, 2014 — Fusion DigiNet

YandexYandex, “the Google of Russia”, has bought Sovetnik by Metabar from Runa Capital, a Russian venture capital fund.The terms of the deal were not disclosed.

sovetnikSovetnik, which means “advisor” in Russian, is a browser extension that helps users find the best offer for online shopping. Sovetnik notifications appear when a person chooses an item in an online store. The application analyses the content of the page that the user is viewing, and shows multiple choice of on-line marketplaces where one can buy the same product with the best options – by quality of additional services and price. Sovetnik is used by more than two million people in Russia.

“Sovetnik provides a hint instantly, in the right place, and at the right time. People do not have to figure out where to make a purchase”, says Alexander Feoktistov, Head of Yandex.

Runa Capital fund invested $1 million in Metabar in 2011. Metabar team invented Sovetnik in 2013 and decided to pivot and focus on this project and the business around it. Runa Capital reports that the Yandex acquisition deal provided a multiple return on investment.

Russia, Moscow

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Cello Group acquires Worldwide Promedica

December 9, 2014 — Fusion DigiNet

cello-logoCello Group plc, the healthcare and consumer strategic marketing group, has acquired Worldwide Promedica Inc. 

Promedica is a San Francisco based market research firm serving pharmaceutical and biotechnology companies. Promedica had revenues of $1.9m in the year to December 2013.

Promedica will form part of Cello Health, and will work closely with Cello Health Insight in London, New York and Chicago to continue the development of the offer to the global clients of Cello Health.

The initial consideration is $700,000 payable in cash, with a maximum of $1.8m payable as deferred consideration dependent on financial performance in the period to 31 December 2017. Up to 50% of the deferred consideration is potentially payable in shares at the sole option of Cello. 

Stephen Highley, Chairman of Cello Health commented:

“We’re delighted to warmly welcome Promedica into Cello Health. This experienced and talented team will now open up capacity on the West Coast of America where we are seeing significant activity from both pharmaceutical and biotechnology clients”.

UK, London & USA, San Francisco

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JWT New Zealand acquires Heyday, a New Zealand digital agency  

December 8, 2014 — Fusion DigiNet

wppWPP company JWT New Zealand has acquired a majority stake in Heyday, an independent digital agency based in Wellington, New Zealand.

Founded in 2000, Heyday is one of New Zealand’s most comprehensive and respected digital agencies. The company’s services include digital strategy, visual design, user experience design, content development, digital film, smartphone applications and web application development. Key clients include ANZ Bank; Trade Me, New Zealand’s largest Internet-auction website; and Z Energy.

For the year ending 31 March 2014, Heyday’s revenues were NZD 4.0 million, with gross assets of NZD 1.7 million, as at the same date. The company employs 35 people.

UK, London & New Zealand, Wellington

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