Future Expands U.S. Presence Through Acquisition of Global Digital Publisher, Mobile Nations
NEW YORK, March 1, 2019 /PRNewswire/ -- Global specialist media platform Future plc today announced the acquisition of Mobile Nations (MoNa Mobile Nations, LLC), a U.S.-based leading global digital publisher focused on consumer electronics.
This acquisition further extends Future's reach in the U.S. and builds on its strong presence as a leading specialist media company. Mobile Nations' properties are highly complementary to Future's existing portfolio and focus on consumer electronics, combining content, community and commerce to deliver shopping enablement solutions. Notable brands include Android Central, iMore, Windows Central and Thrifter with a monthly audience of over 40 million technology enthusiasts.
Since January 2018, Future has executed five acquisitions, including the purchase of NewBay Media for $13.7MM and the acquisition of Purch for $128MM. Other acquisitions include the Home Interest division of Centaur Media plc, set at an enterprise value of $40.7MM, and the five specialist consumer titles from Haymarket Media Group for $17.8MM. With the addition of Mobile Nations, Future now has over 100 brands across print, digital and events with a total global reach of over 120 million.
Future CEO Zillah Byng-Thorne shared, "This acquisition will further strengthen our market leading position in technology and extends our growing presence in the U.S. We 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 monetize our significant U.S. online audience."
At the end of 2018, Future's group revenue increased from 48 percent to $158.4MM while its U.S. revenue increased by 109 percent to $43.1MM. Media revenue increased by 88 percent to $81.6MM up from $43.4MM in 2017, 40 percent of which was organic growth. Organic eCommerce revenue grew 104 percent to $23.1MM. Separately, Mobile Nations closed out 2018 with a revenue of $16.4MM and EBITDA of $8.2MM. Both companies' lucrative year-end, combined earnings are projected to continuously rise.
Byng-Thorne continued, "We have identified a number of areas where we can share best practice as we continue to leverage our specialist media platform and diversify our revenue streams, both geographically and across our product offering."
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About Future
Future plc is an international media group and leading digital publisher, listed on the London Stock Exchange (LSE: FUTR). The Group operates two separately managed brand-led divisions: Media and Magazine. The Group has a reach of 100m+ globally, including 62m online users and 63m social media reach.
The Magazine division is brand-led. It has over 100 market-leading publications, with 10 key titles. The Media division focuses on being at the forefront of digital innovation, in particular, the high growth technology and games markets, with three complementary revenue streams: eCommerce, events and digital advertising. It has a number of leading brands including TechRadar, PC Gamer, What Hi-Fi?, Louder, The Photography Show, Generate, The Homebuilding and Renovating Show and the Music Week Awards.
SOURCE Future plc
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