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Ascential Regulatory News (ASCL)



Regulatory News for Ascential (ASCL)


Share Price: 373.20Bid: 371.80Ask: 372.00Change: 0.00 (0.00%)No Movement on Ascential
Spread: 0.20Spread as %: 0.05%Open: 370.00High: 374.60Low: 368.80Yesterday’s Close: 373.20





Acquisition of MediaLink

Tue, 7th Feb 2017 11:58

RNS Number : 2212W
Ascential PLC
07 February 2017
 

Tuesday 7 February 2017

 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATIONS.

 

Ascential plc

 

Acquisition of MediaLink

 

Ascential plc (LSE: ASCL.L), the global business-to-business media company with a focused portfolio of market-leading events and information services products, today announces that it has agreed to acquire 100% of US-based media advisory and business services provider MediaLink for an initial cash consideration of $69m plus future earnouts.

 

MediaLink provides advisory and business services to media platforms and brands seeking to drive growth through better marketing.  It serves the consumer goods and services segment, which Ascential already addresses through leading products such as WGSN, Cannes Lions and Money20/20.  It has worked with Cannes Lions' customers since 2011 where it hosts content and client-oriented meetings and events as part of the official fringe.  The company, which operates from four offices in the U.S. was founded in 2003 by Michael Kassan, who will continue to run the business.  

 

MediaLink will further strengthen and accelerate Ascential's strategy to own market-leading brands in selected complementary marketplaces and offer trusted information and valuable connections to businesses.  It is growing rapidly and delivered unaudited revenue of $54m and adjusted PBT of $14m in 2016, with year-on-year growth of 29% and 24% respectively, and had gross assets of $11m at December 2016.

 

The initial consideration will be funded from Ascential's cash reserves and existing borrowing facilities.  The future earnouts are payable over the period to February 2021 based on the adjusted EBITDA of the business for the three years 2017 to 2019 and are expected to total between $42m and $62m.  The earnouts are payable in cash or, for certain elements, shares at Ascential's option and a portion of the earn-out payments is subject to founders remaining in employment with the company.  The total aggregate consideration, including initial consideration and earn out payments, is capped at $207m in the event that stretching profit targets are reached.  The acquisition is expected to be enhancing to earnings per share in the first full year of ownership.

 

The transaction is expected to complete, subject to customary US regulatory clearance, within the next month and, upon completion MediaLink will form part of Ascential's Information Services division.

 

Duncan Painter, Chief Executive Officer of Ascential plc, said:

 

"MediaLink is a leader in its industry, with a strong and very visible brand presence in the US.  MediaLink is an excellent fit with our existing Ascential offering and I am confident we can help accelerate MediaLink's business into new markets by using our assets and infrastructure over the coming months and years. I see synergies between MediaLink and our portfolio of products to significantly help accelerate our existing businesses and create additional value for shareholders."

 

Michael Kassan, Chairman and CEO of MediaLink, commented:

 

"This is a transformational moment for MediaLink.  Propelled by the global footprint of Ascential and the combined resources and talent of our organisations, we are going to write the most remarkable chapter in MediaLink history. We look forward to working closely with Ascential to create growth and new opportunities."

 

 

Contacts




Ascential plc

+44 (0)207 516 5000

Duncan Painter, Chief Executive Officer


Mandy Gradden, Chief Financial Officer




Media enquiries - FTI Consulting

+44(0)203 727 1000

Edward Bridges, Matt Dixon, Chris Lane


 

 

Notes for Editors:

 

About MediaLink

MediaLink operates at the intersection of media, marketing, advertising, entertainment and technology, delivering companies the advice, partners and opportunities they need to shape innovative go-to-market strategies.  Unlike any other company in the strategic advisory space, MediaLink not only advises, but importantly helps companies execute to realize their optimal positioning, marketplace visibility, talent, content, organizational design and M&A goals.  Its clients include Fortune 500 companies across the media/marketing/advertising, technology, and entertainment landscape, as well as private equity and venture capital firms.  Founded in 2003 by Michael E. Kassan, MediaLink employs 120+ professionals in New York, Chicago, Los Angeles and San Francisco.

 

About Ascential plc

Ascential plc is a global business-to-business media company that informs and connects the business world in 150 countries through market-leading Exhibitions & Festivals and Information Services.

 

Ascential powers the prestigious Cannes Lions festival for the branded communications industry, the world's premier payments and financial services congress Money20/20, Spring Fair/Autumn Fair, the global fashion trend forecasting service WGSN and environmental risk data business Groundsure.

 

Ascential's premium products enable focus, growth and value.  The company provides customers with world class content and connections empowering their businesses to be the best informed and best connected. www.ascential.com


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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Ascential (ASCL)




DateSourceHeadlineCategory
01-Oct-18 13:59RNSDirector/PDMR ShareholdingDirectors' Dealings
01-Oct-18 13:57RNSTotal Voting RightsHolding(s) in Company
04-Sep-18 15:04RNSTotal Voting RightsHolding(s) in Company
03-Sep-18 07:00RNSAcquisition of Brand ViewMergers, Acquisitions and Disposals
02-Aug-18 14:00RNSHolding(s) in CompanyHolding(s) in Company
01-Aug-18 11:30RNSTotal Voting RightsHolding(s) in Company
25-Jul-18 11:50RNSDirector/PDMR ShareholdingDirectors' Dealings
23-Jul-18 07:00RNSInterim resultsResults and Trading Reports
17-Jul-18 07:00RNSCompletion of disposal of ExhibitionsMergers, Acquisitions and Disposals
05-Jul-18 16:25RNSNotice of Interim Results DateAdvance Notice of Results
02-Jul-18 17:45RNSHolding(s) in CompanyHolding(s) in Company
02-Jul-18 17:45RNSHolding(s) in CompanyHolding(s) in Company
02-Jul-18 10:35RNSTotal Voting RightsHolding(s) in Company
25-Jun-18 10:36RNSResult of General MeetingResults and Trading Reports
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18-Jun-18 14:30RNSDirector/PDMR ShareholdingDirectors' Dealings
15-Jun-18 07:00RNS-RCannes Lions Announces 2018 Award Entry NumbersCompany Announcement - General
15-Jun-18 07:00RNSAcquisition of WARCMergers, Acquisitions and Disposals
07-Jun-18 07:00RNSProposed disposal of Exhibitions & Trading UpdateResults and Trading Reports
01-Jun-18 11:35RNSTotal Voting RightsHolding(s) in Company
21-May-18 14:57RNSHolding(s) in CompanyHolding(s) in Company
15-May-18 07:00RNSProposed Sale of Ascential ExhibitionsCompany Announcement - General
10-May-18 13:35RNSAGM ResultsResults and Trading Reports
01-May-18 10:09RNSTotal Voting RightsHolding(s) in Company
01-May-18 10:06RNSDirector DeclarationExecutive Changes
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14-Mar-18 16:05RNSHolding(s) in CompanyHolding(s) in Company
09-Mar-18 15:08RNSDirector/PDMR ShareholdingDirectors' Dealings
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01-Mar-18 12:17RNSTotal Voting RightsHolding(s) in Company


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