Future, the specialist media platform, announced the proposed acquisition of the consumer division of Purch, the digital publishing and marketplace platform, operating in the consumer technology and science verticals.
The acquisition will give Future the number one position in consumer tech publishing in the US, said the media company in a press release.
Purch has grown its digitally-led business through titles such as Tom’s Guide, Tom’s Hardware and Top Ten Reviews.
Combining Future’s track record of growth, with Purch’s US market presence, will give more diversified revenue sources for Future going forwards. Purch’s cutting-edge technology will also help deliver on Future’s mission to be a tech and data-driven global platform.
Acquisition highlights and rationale
● Future proposes to acquire Purch’s consumer division in a deal worth £105.7m (US$137m)
● Purch is a next generation digital publishing and marketplace platform
● It’s leading consumer tech titles, such as Tom’s Guide, Tom’s Hardware and Top Ten Reviews, coupled with Techradar mean Future will be the largest consumer tech network in the US
● Purch’s ad technology, RAMP, compliments Future’s technology platform, opening up further opportunities for partners
● Opportunity to significantly increase the scale of Futures science and knowledge divisions, through Purch’s titles such as Space.com and Live Science
Zillah Byng-Thorne, CEO of Future, commented: “Future’s mission to be a technology-enabled global platform for specialist media takes another big step forward today with this announcement. I’ve been impressed by the strength of Purch’s technology platforms and the expertise of its people. Together we can build a combined organisation that has scale and growth opportunities ahead.
The two businesses share similar cultures - we both share our audiences’ passion, we’re data-driven, ambitious and both have an innovative mindset. From day one Future will be number one in the US consumer technology sector, and beyond this we see clear opportunities for combined growth.
We have developed a strong track record in acquiring and integrating complementary businesses and this deal further accelerates our strategy for delivering growth both organically and through acquisition.”
Future is a member of FIPP.
More like this
HarperCollins Publishers has acquired world all-language rights to Christmas with Good Housekeeping. The book will be published on 18th October 2018.9th Aug 2018 Deals
Exponent today announced that it has reached an agreement to acquire Dennis Publishing. Dennis is the first investment to be made from Exponent’s fourth fund, Exponent Private Equity Partners IV, LP.31st Jul 2018 Deals
European commercial printing group Walstead today announced it has signed a definitive agreement to acquire LSC Communications' European printing business based in Poland ("LSC Poland"). The transaction is subject to customary completion conditions, adjustments and regulatory approval.19th Jul 2018 Deals
2018 might have been a challenging year for its parent company Facebook, but for Instagram it has largely been business as usual. The image/video based platform has posted excellent traffic and revenue figures and has continued to establish itself as one of the social media channels of choice for Generation Z.13th Aug 2018 Features
Every couple of years a new platform comes around and once it reaches a certain degree of popularity, marketers, advertisers and publishers have no choice but to adapt to the new reality.13th Aug 2018 Insight News
Each year the sessions at the DIS (Digital Innovators’ Summit) address many of the key issues that are focusing the minds of execs in the publishing industry.13th Aug 2018 Insight News
Harper’s Bazaar is set to launch Bazaar Art Week, a new series of consumer and industry events that will celebrate the achievements and talents of women in the art world.20th Aug 2018 Industry News
Women influence auto purchases, yet most feel alienated by car companies. TI Media has set out to change this.13th Aug 2018 Features
Visit our Youtube channelFIND OUT MORE
FIPP newsletters allow you to keep up with industry trends, research, training and events across the worldFIND OUT MORE
What’s happening now, what’s coming next