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Centaur Media acquires digital marketing information provider Econsultancy
posted on: 22/6/2012 10:40:45
Centaur Media has agreed to acquire Econsultancy, a digital marketing information provider, for an initial consideration of £12m.
Econsultancy is a digital and events-led information provider to the global digital marketing and e-commerce community in the UK, with a growing presence in the USA, Middle East, Asia and Australia.
The acquisition is subject to shareholder approval, and seen as a key part of the strategy to transform the group into a predominantly digital and events-led business.
Centaur would pay £12m, with a deferred consideration of up to £38m due in 2016, based on EBITDA performance for the year ending December 2015.
Econsultancy has approximately 110,000 registered users and 5,000 subscribers. In the financial year to 31 December 2011, it reported revenues of £6.6m, up 50 per cent year-on-year.
"The earnings enhancing acquisition of Econsultancy provides us with an exciting opportunity to acquire a leading information brand in a high growth sector with global potential," said Centaur chief executive Geoff Wilmot.
"Econsultancy is highly complementary with Centaur and gives us a prominent position in the rapidly growing digital marketing sector with the opportunity to scale internationally. We see considerable potential for collaborative growth through leveraging our existing position in marketing and the development of high value, paid-for information products."
It is proposed that Econsultancy will form part of Centaur’s business information division, but will work closely with its exhibitions division, with the intention of establishing Econsultancy as the "digital marketing expert" for the wider marketing community,
"We're thrilled to be combining all that Econsultancy has to offer with all that Centaur can offer to create a world-class proposition with amazing potential," said Econsultancy CEO Ashley Friedlein.