DMGT acquires DIIG EUROPE for £75M

dmg information, the business information division of DMGT, is to acquire DMGTDIIG EUROPE for £75 million, from Decision Insight Information Group, a portfolio company of the US private equity firm TPG Capital.

DIIG(E) is a UK and Ireland property searches group, primarily delivering residential and commercial property search results to legal professionals, and is based in Kent, England with additional offices in Edinburgh, Scotland and Dublin, Ireland. DIIG(E)’S business comprises SearchFlow Limited (England & Wales), Millar & Bryce Limited (Scotland), Rochford Brady Legal Services Limited (Ireland), Decision Insight Hub Limited and Decision First Limited.

The acquired businesses had revenues of £69 million and operating profit of £6 million for the year to 31 December 2012.

Suresh Kavan, CEO of dmgi, said: “Acquiring this group of outstanding companies will greatly increase our strategic reach at a time of great opportunity in the property information industry. We are delighted to welcome them to our portfolio of companies.”

UK, London & USA, Austin, TX

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UBM plc sells Property Week to Metropolis and UBM Channel to The Channel Company


UBM has agreed to sell its Property Week print magazine and related products to Metropolis International. Property Week’s 35 staff will transfer to Metropolis International following completion. The terms of the deal were not disclosed.

metropolisUBM has also sold its North American IT channel business to a management-led investment group. The new company, called The Channel Company, will own and operate all of the businesses and products formerly owned by UBM Tech (Channel) in North America. The Comdex brand and UBM India’s CRN business are excluded from this transaction. UBM has retained a 30% minority equity interest in the business.

These disposals constitute the bulk of the operations treated as discontinued in UBM’s H1 2013 results and classified as held for sale at 30 June 2013. The combined cash proceeds from these disposals are approximately £8.5m, subject to working capital adjustments on completion.

UK, London & USA, San Francisco, CA

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Axel Springer Digital Classifieds acquires majority of property portal Immoweb in Belgium

Axel Springer Digital Classifieds, the company founded by Axel Springer and global growth investor General Atlantic as part of a strategic partnership in Spring 2012, has acquired 80 % of the shares of the Belgian property portal Immoweb from members of the Rousseaux family and Produpress S.C.A. The purchase price comes to €127.5 million. Christophe Rousseaux, who will continue to manage Immoweb as CEO, and two other family members retain a 20 % share in the company.

IMMOWEB S.A. was founded in 1996 and operates the leading Belgian property portal. Every month more than 2.4 million unique visitors use Immoweb’s platform.

Axel Springer’s online classifieds business is bundled into Axel Springer Digital Classifieds GmbH, with Axel Springer holding a 70 % share and General Atlantic holding a 30 % share in this company. Along with the European job portal StepStone Group and UK-based job portal Totaljobs, the French property portal SeLoger, the German property portal Immonet and the German city portal also form part of Axel Springer Digital Classifieds.

Germany, Berlin & Belgium, Brussels

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