FIPP member Hubert Burda Media, headquartered in Germany, is a technology and media company with over 540 brands world-wide. In the UK, Burda publishes several consumer magazines such as YourHome and Wedding. The company has recently led the funding round of the online marketplace Notonthehighstreet.com.
Immediate Media Co, also a FIPP member, was established in 2011 following the merger of a number of media platforms, backed by Exponent Private Equity. The media company has also diversified into digital market places and ecommerce, including the UK’s digital wedding planning tool hitched.co.uk and TV shopping network JewelleryMaker.
Building on the strengths of the company, the partners will realise further growth by accelerating its transformation. The goal is to build a fully transformed business with a strong digital footprint, diverse revenues and business models and interwoven content and commerce across brands, audiences and platforms.
Paul-Bernhard Kallen, CEO of Hubert Burda Media, said: “Immediate Media is a great platform for print as well as digital consumer businesses in the UK. The successful management team brings strength and depth across publishing, technology and e-commerce and has built a growing, profitable company with a large and loyal customer base. We believe Burda and Immediate Media match perfectly – with regards to the business segments as well as to the entrepreneurial mindset of both companies.”
Tom Bureau, CEO of Immediate Media Co, said: “Since we formed Immediate with Exponent in 2011, we have created a dynamic, thriving business. We have grown revenues and profitability substantially, and have invested in people, technology and business models. The business is primed for further growth, and I am happy that we have found a partner that shares our vision for growth and innovation. Burda is an exciting, global business and we are happy to become part of their network of entrepreneurs.”
Hubert Burda Media and Exponent have agreed to not disclose financial details of the transaction.
Source: Immediate Media Co
Hubert Burda Media and Immedia Media Co are FIPP members.