Future Plc Acquires SmartBrief for $45 to $65 Million

Future plc has acquired Washington, D.C.-based online B2B publisher SmartBrief, the latest move in a string of purchases aimed at expanding the London-based media giant's presence in the U.S. Expected to close on Wednesday, the agreement involves an initial purchase price of $45 million—funded through a combination of debt and $12.8 million in shares—as well as a deferred payment of up to an additional $20 million if SmartBrief meets certain profit targets over the next year. In addition strengthening its B2B capabilities, growing its footprint in the U.S. and shifting more of its revenues toward digital advertising, events and e-commerce—all central aspects of the company's growth strategy under CEO Zillah Byng-Thorne—Future said it was attracted to SmartBrief's proprietary technology, including its CMS, taxonomy search tool, ad server and newsletter tracking system, which it plans to apply to other areas of the company. Following last year's acquisitions of NewBay Media, for $13.8 million, and Purch's consumer media and brand licensing business, for $132.5 million, Future now generates more than half of its overall revenues in the U.S., according to its most recent earnings report, which details the six months ending March 31, 2019. The company claimed £108.7 million ($132.9 million) in revenue over the six month period, of which 52% was derived from its U.S. business, with the remaining 48% coming from the UK. Across both markets, about two-thirds (69.6%) of that... Continue reading at 'Folio Magazine'

[ Folio Magazine | 2019-07-30 16:09:27 UTC ]

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