Proactive Investors - Run By Investors For Investors

Future shares surge on back of Mobile Nations acquisition

The media group it would pay US$55mln in cash and US$5mln in shares for Mobile Nations, adding that there was also a deferred payment of up US$60mln that was subject to financial targets
Android Central
Mobile Nations brands include Android Central, a technology site focusing on mobile software

Future PLC (LON:FUTR) shares surged in lunchtime trading Friday after it acquired US-based publisher Mobile Nations.

The media group it would pay US$55mln in cash and US$5mln in shares for Mobile Nations, a digital publisher focused on consumer electronics, adding that there was also a deferred payment of up US$60mln that would be paid subject to meeting certain financial targets in the year ending 31 March 2020.

READ: Future’s looking bright as publishing group sees jump in audience numbers

Together, the total consideration for Mobile Nations amounted to US$120mln.

Future added that the transaction was expected to be earnings enhancing in the current fiscal year and “materially” enhancing in the first full year after completion.

Mobile Nations, whose publications include Android Central, iMore, Windows Central, and Thrifter, has a monthly audience of around 40mln.

Zillah Byng-Thorne, chief executive of Future, said that the acquisition would “further strengthen” the company’s position in the technology, as well as extending its presence in the US market.

“We already have an established commercial relationship with Mobile Nations through its longstanding partnership with Purch, which we acquired in September 2018. The addition of Mobile Nations' brands will deepen our presence and expand our opportunities to monetise our significant US online audience,” the CEO added.

Shares were up 10.5% at 758p.

View full FUTR profile View Profile

Future PLC Timeline

Related Articles

books
May 22 2019
Here we take a closer look at Bloomsbury Publishing PLC (LON:BMY)
Live Company
June 13 2019
In June 2019 the company signed a five-year deal to create tours themed around properties owned by children’s television network Nickelodeon
marketing
January 29 2019
“With the geopolitical landscape remaining in flux, clients are looking for greater certainty from their marketing programmes which our agencies and data businesses are proving able to provide"

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use