Zinc Media Regulatory News (ZIN)

18 Jun 2007 07:01

Ten Alps PLC18 June 2007 Press Release 18 June 2007 Ten Alps plc ("Ten Alps" or the "Group") Acquisition of factual content and consultancy business DBDA Ten Alps Plc, the factual media company, announces the acquisition of factualcontent business DBDA. The maximum consideration payable is £3.3m. The multiple paid on theacquisition, including an earnout, is 3.75 times EBIT (earnings before interestand taxation). DBDA's adjusted 2006 EBIT was approximately £370,000, onrevenues of £2.6m. £1m was paid upfront for net assets of £300,000, with a £ for £ adjustment onnet assets on agreement of the completion accounts. Further payment will bemade on an earnout of a maximum of £2.3m on EBIT of £2.4m over 2.5 years. Thethreshold for the earnout begins at £400,000 EBIT. The acquisition was fundedby debt. DBDA, based in London, provides specialist content production and consultancyservices across sectors in which Ten Alps already has key positions -particularly education, safety, and community-based markets. The acquisition ofDBDA will strengthen the Group's operations across these sectors and willenhance the development of a dedicated corporate social responsibilityprogramming arm to Ten Alps' TV production companies. There is also anopportunity to market other Group services such as events - offering additionalopportunities from the DBDA client base. DBDA has worked with commercial clients such as Aviva, BMW, BP, Zurich and Marksand Spencer. Public sector clients include TfL (Transport for London), variousgovernment departments including Home Office, Health, Education & Transport,Road Safety Scotland, Scottish Executive, Welsh Assembly, and a number of localauthorities. DBDA Managing Director, Dawn Boyfield has agreed a minimum two and a half yearservice contract and brings with her 25 staff. Alex Connock, Chief Executive of Ten Alps Plc, said: "Dawn Boyfield spotted impressively early that corporate social responsibilitywould become a major area for large companies. She has built a great businessand a talented team around providing bespoke solutions for her blue-chip clientsand we are looking forward to working together." - Ends - For further information, please contact:Ten Alps plcAlex Connock, CEO Tel: +44 (0) 20 7878 2311 c/o Moira McManus www.tenalps.com Collins Stewart, Nominated AdviserChris Wells / Mark Connelly Tel: +44 (0) 20 7523 8350 www.collins-stewart.com Media enquiries:Abchurch CommunicationsHeather Salmond / Gareth Mead / Joanne Shears Tel: +44 (0) 20 7398 7700Joanne.shears@abchurch-group.com www.abchurch-group.com Notes to Editors Ten Alps is a factual media company providing content for TV, radio, online TVand print, plus managing related commercial opportunities. Ten Alps targets content to every outlet that audiences, customers andadvertisers engage with - making it entirely cross-platform. This year Ten Alps is producing over 500 publications and scores of TV and radioprogrammes. It has invested in and launched 12 online TV channels. Ten Alps' strategy is to migrate specialist media to online TV, retainingconsumers on both sides of the online-offline divide as choice widens andaudiences fragment. Growth has come through strategic acquisitions and cross selling between mediachannels. When Ten Alps launched on AiM in 2001 it had revenues of under £2mand 10 staff. It now employs over 530 people in three divisions: broadcast,digital and communications, and analyst forecasts expect the Group to announce2006-7 revenues above £65m. With headquarters in London, Ten Alps also has major offices in the North-Westand Scotland. This information is provided by RNS The company news service from the London Stock Exchange