Digital media group Digitalbox PLC (AIM:DBOX) has acquired the web and mobile platform assets of TVGuide.co.uk, including the Amazon Alexa TVGuide skill, for a total consideration of £470,000.
The acquisition adds to DigitalBox’s growing portfolio of popular titles, which include The Daily Mash, The Tab, Entertainment Daily and The Poke.
Following the £20,000 consideration paid at exchange, the remaining consideration will be via a payment of £270,000 on completion and a deferred payment of £180,000 after four months.
Launched in 2002, TVguide.co.uk is an established dedicated interactive UK TV listings brand providing more than one million monthly users with detailed episode guides, video previews, ratings, and recommendations of everything worth watching on more than 300 channels.
Revenue and operating profit attributable to the assets being purchased by DigitalBox were approximately £300,000 and £100,000 respectively for the past financial year. No liabilities will be transferred to DigitalBox via the acquisition.
"The acquisition of TVGuide.co.uk is another excellent addition to our growing portfolio of digital assets,” James Carter, chief executive of Digitalbox, stated, calling it “an exciting business with considerable potential and an established brand”.
“Following the acquisitions of The Daily Mash, The Tab and The Poke, we have an established process of integrating assets onto our Graphene platform, and we are confident we can quickly grow the site's revenue and increase its profitability."