Centaur Media to acquire Econsultancy for initial £12m
Centaur Media has today announced on the London Stock Exchange that it has agreed to acquire Econsultancy for an initial consideration of £12m, subject to shareholder approval on 9 July.
As well as the £12m consideration in cash, there will be a deferred consideration of up to £38m due in 2016, based on EBITDA performance for the year ending December 2015.
Geoff Wilmot, Centaur chief executive, said: "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 which fits well with Centaur products including Marketing Week and New Media Age.
"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 services."
The directors have said that the aim will be to increase Econsultancy's paid-for information portfolio.