SAN FRANCISCO, July 18, 2018 /PRNewswire/ -- Global specialist media platform, Future plc today announced the proposed acquisition of the consumer division of Purch, the next generation digital publishing and marketplace platform, operating in the consumer technology and science verticals.
The acquisition will give Future the number one position in consumer technology publishing in the U.S. Purch has successfully grown its digitally-led business through titles such as Tom's Guide, Tom's Hardware and Top Ten Reviews. Bringing Purch's consumer brands and digital platforms into the Future business will further cement Future's position as a growing, global platform for specialist media.
Combining Future's track record of growth with Purch's U.S. market presence will give a market-leading U.S. position and more diversified revenue sources for Future moving forward. Purch's cutting-edge technology will also help deliver on Future's mission to be a technology-enabled global platform for specialist media.
Acquisition highlights & rationale
- Future proposes to acquire Purch's consumer division in a deal worth $132m
- 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, give Future the number one slot in the consumer tech space in the U.S.
- Purch's ad technology, RAMP, compliments Future's technology platform, opening up further opportunities for our partners
- Opportunity to significantly increase the scale of Futures science and knowledge divisions, through Purch's titles such as Space.com and Live Science
Future CEO Zillah Byng-Thorne 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 organization 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 U.S. 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."
Purch CEO, Greg Mason said, "Future and Purch have clear synergy and this acquisition represents a tremendous opportunity to join forces with a like-minded publisher that sees the future of special interest media and publishing in much the same way we do.
"Like Purch, Future places emphasis on strengthening their market position in key verticals, leveraging content and commerce to drive diverse revenue streams, and serious investments in technology to control monetization and drive continual knowledge and insights. Future's acquisition of the B2C and Publisher Service business units will enable these units to grow more rapidly and to realize their full potential."
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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.
Purch is a digital publishing and marketplace platform uniquely positioned at the intersection of content, commerce and customer. By combining in-depth product reviews, comparisons and services with industry-leading publisher technology, Purch creates a seamless connection between intent-based buyers and sellers. The company generates more than $1 billion annually in facilitated commerce through its tech, shopping, lifestyle and SMB brands, including Tom's Guide, Tom's Hardware, Top Ten Reviews, ShopSavvy and Business.com. With more than 1,200 product categories, Purch is the #1 source for buying advice for more than 100 million people each month. To learn more about Purch and its owned-and-operated sites, please visit www.purch.com.
SOURCE Future plc