Progressive Digital Media Group acquires CurrentAnalysis

progressiveProgressive Digital Media Group Plc has acquired CurrentAnalysis Inc., for a gross consideration of US $19.6 million in cash payable on completion. Completion, which is subject to the approval of CurrentAnalysis shareholders, is expected to occur within 30 days and will be funded from the Group’s existing cash resources.

currentanalysis-s2CurrentAnalysis provides subscription based business intelligence services to the ICT industry. The company has offices in Washington D.C, London and Singapore. For the financial year ended 31 December 2013, CurrentAnalysis reported revenues of approximately $13 million, with net liabilities of approximately $2.3 million.

It is expected that the acquisition will be earnings accretive within the first twelve months post acquisition, though the impact on the Group results to 31 December 2014 are expected to be broadly neutral.

Commenting on the acquisition Simon Pyper, Chief Executive of Progressive Digital Media, said: “The acquisition of CurrentAnalysis satisfies all of our acquisition criteria, providing subscription based business information services to blue chip companies operating in a global sector. Additionally, CurrentAnalysis augments our existing platform and significantly increases our footprint in the key North American market.”

UK, London & USA, Washington, DC

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Progressive Digital Media Group acquires Pyramid Research from UBM

progressiveProgressive Digital Media Group the provider of business information to the consumer and technology markets, has acquired the business and trading assets of Pyramid Research, a leading  of business information and market analysis for the Information and Communications Technology industry, from UBM for a gross consideration of US$3.3 million in cash payable on completion. Completion, which is subject to UK employee consultation, is scheduled for 2 January 2014 and will be financed from the Group’s existing cash resources.

pyramidresearchFor nearly 25 years, Pyramid has been providing practical advice on market and service opportunities to leaders in the converged communications, media and technology industries. Pyramid’s market analysis is centred on detailed primary research complemented with insightful analysis and dynamic modelling tools.  Pyramid has offices in London, Boston and Argentina with subscribers located across the globe.

“Pyramid is well known to us and we are delighted that the opportunity has arisen for this business to join the Group”, said Simon Pyper, Chief Executive of Progressive Digital Media. “Pyramid has a well regarded brand name, a portfolio of high quality data assets and moreover, an expanding presence in some of the world’s fastest growing markets.”

Owing to the subscription nature of the business the acquisition is expected to be earnings neutral in the first full year of ownership and earnings accretive thereafter. The net assets to be acquired on completion are expected to be approximately US$0.3 million.

UK, London

Related articles:

1. Progressive Digital Media Group

2. UBM