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.
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