Newsweek magazine announced it had agreed on a merger with news website The Daily Beast. Former Vanity Fair magazine editor Tina Brown co-founded The Daily Beast two years ago and said the two companies would be a powerful dual platform. Newsweek, established in 1933, was sold by the Washington Post to businessman Sidney Harman.
The Hut Group reported it had acquired the UK’s biggest online Health and Beauty retailer, the Lookfantastic Group. Hut Group paid around 19.4 million pounds for the retailer, in a move in line with its strategy to position itself as one of Europe’s biggest online players. Under the terms of the deal, Lookfantastic shareholders will get the investment amount, 19.4 million pounds in a mixture of cash and equity.
In a move that marks its biggest ever buy to date; the Daisy Group announced it had purchased SpiriTel, a service provider for an investment pegged at £37 million. Daisy Group’s investment amount, the £37 million is inclusive of repayment of debt facilities from Clydesdale Bank. The Clydesdale Bank has financed SpiriTel’s buy and build strategy since 2007.
US based Hollywood production firm Warner Bros announced it had bought Britain’s Leavesden Studios, home to the famous Harry Porter films. Warner Bros said it will put some 100 million pounds into the expansion of the Studios, a move that will create about 1,800 jobs. Warner Bros Chairman and Chief Executive Officer Barry Meyer noted that for 86 years, Warner Bros has been inherently involved in film production in the UK and the purchase demonstrates the firm’s long-term commitment to, and confidence in, the skills and creativity of the UK film industry.
Qatar Insurance Services said it has acquired Reinsurance and Insurance for the 3rd Millennium (R13K), a London based privately held web-based insurance and reinsurance trading platform. Qatar Insurance Services is a Qatar Financial Centre (QFC) based owner of Qatarlyst, and expects the investment to accelerate the development of the QFC as one of the foremost hubs for reinsurance in the GCC region.
OMERS Worldwide infrastructure arm Borealis Infrastructure, or Borealis and Canada’s Ontario Teachers’ Pension Plan went into a joint purchase bid for Britain’s High Speed 1 (HS1) project. The two firms stated they had agreed on a binding contract for the purchase of High Speed 1, Britain’s only high speed rail link to the Channel Tunnel. The announcement of the purchase comes in the wake of the competitive tender process that was launched by the UK government, with a number of major global infrastructure firms taking part.
News Corp. owned and controlled by media mogul Rupert Murdoch has launched a stormy battle for a 100 per cent of the UK’s satellite TV and news provider BSkyB. The TV firm is one of the most TV and news outlet firm in the UK and is partly owned by News Corp. Murdoch’s bid to have the remaining 60.9 per cent stake he does not already own has however encountered stiff opposition, as competition concerns are raised.
US based leading provider of business consulting services Huron Consulting Services Friday announced it had acquired London based Trilantic International Ltd. Trilantic International Ltd is one of the foremost e-discovery businesses in London and offers quality developed technology solutions to its customers in Europe and the Middle East. The purchase further enhances the Company’s discovery offerings for clients globally.
India’s Jain Irrigation announced it had bought a controlling stake of 80 per cent in the UK’s Sleafood Quality Food Ltd. Jain Irrigation is currently the largest fruit and vegetable processing firm in India and its acquisition of the UK Midlands based Sleaford Quality Food Ltd will cost it about 10 million pounds. The deal was done at about three times Sleaford Quality Food Ltd’s earnings before interest, taxes, depreciation and amortization, as is the general norm for valuations and acquisitions in the food sector in the UK.
American based web Security Company Webroot reported it had bought the UK’s cloud based anti-malware firm, Prevx. Under the terms of the deal, the British firm’s technology is to be incorporated into Webroot’s cloud security services portfolio. Webroot said it expects the investment to change how security is delivered. However, the amount involved in the transaction was not revealed.
Diversified Agency Services, a division of Omnicom Group Inc. announced Tuesday that it has acquired The Core, an award-winning design and communications agency with offices in Hull, Leeds and London, UK.
US based IT services firm Cognizant is set to purchase PIPC, the global management consultancy group, in a move aimed at expanding its project management skills base, said the firm. With operations in more than 10 countries, and a budding global presence, PIPC has expanded its global management consultancy services to a number of markets, building a name and a reputation in its core markets such as Australia, the UK and New Zealand.
Cleveland Motion Controls Monday said it had bought one of the UK’s foremost manufacturers of multi-axis motion control specialist. The US based Cleveland Motion Control reported buying NEE Controls, as a move towards reinforcing its position in and increasing business amidst stiff competition.
Atrium Energy Inc Thursday announced the reception of an additional two new blocks in the UK North Sea in the 26th Seaward Licensing Round. The firm said it had gotten approval for the acquisition of the two from the UK’s Department of Energy and Climate Change.
Venkateshwara Hatcheries Group is to acquire English football club, Blackburn Rovers. The Indian firm is in the process of the acquisition and has reported considerable progress. Venkateshwara Hatcheries Group is a poultry firm based in Pune, India and will be undertaking the investment for a consideration of 40 million pounds, around 280 crore. The transaction will be closed by November, this year.
Foremost provider of collaborative payment, invoice and document automation solutions, Bottom-Line Technologies Wednesday announced it had acquired SMA Financial. SMA Financial is a London based provider of Software as a Service (SaaS) connectivity to SWIFT for the automation of payments and financing messaging.
Elecon Engineering Ltd is to acquire the Benzlers-Radicon Group of business. The firm said it will be undertaking the acquisition via its Mauritius based SPV, Elecon Transmission International Ltd. the Benzlers-Radicon Group of business is to be acquired from David Brown Gear Systems Group. Elecon has as well acquired the Applied Products Division, namely Radicon of David Brown Gear Systems UK, as well as certain assets of the gear motor businesses of Cone Drive Inc. USA.
London’s premier retail destination Burlington Arcade has been acquired by Meyer Bergman and Thor Equities. The prestigious West End facility was acquired for an estimated investment sum of 104 million pounds. A statement from the two firms said the investment has been undertaken through a joint venture that will initially be split 80/20. However, the joint venture provides Thor Equities with an option to increase its stake in the JV to 50 per cent by summer next year.
US based MasterCard Inc Friday concluded its UK investment, terming it as significant in terms of the increase effect it will have on the firm’s existing e-Commerce merchant gateway presence in Asia and Australia to European countries and other high-growth, emerging markets worldwide. The conclusion marks the end of MasterCard’s push for the UK firm, coming just months after it was first announced.
Electronic Arts Inc confirmed it had acquired the UK’s mobile games developer, Chillingo after speculation had arisen with reports suggesting such a move. Chillingo is a maker of popular mobile game titles for iPhone, iPad and iPod Touch. Electronic Arts Inc is an interactive entertainment software giant, with a number of popular brand games under its portfolio.
India’s IMIMobile Thursday concluded its UK investment for which it was to acquire the UK’s WINplc. The Hyderabad based IMIMobile is a provider of mobile technology. Its acquisition of the UK firm was done at an investment of $26 million, marking the firm’s first major investment overseas.
UK based AFM Wednesday expanded its fire alarm expertise with an investment that will see it buy ARC Fire Safety Ltd’s Channel Island’s unit. ARC Fire Safety Limited’s Channel Islands division is a specialist in the design, manufacture and installation of wireless fire alarm systems. The Southampton based firm commenced its operations in Guernsey back in 2003 when it was hired to design, install and commission radio fire alarm systems to Channel Island schools, as well as historic buildings in the Island.
Dimension Data is to acquire UK based mvision in a deal done for an undisclosed amount. Dimension Data, the global IT solutions and services firm announced Tuesday it had purchased mvision, the UK based video conference integrator, network and managed video services provider. Dimension Data is estimated to be worth $4 billion and its operations span the globe.
GoIP Global Inc Monday announced it had appended a letter of interest with UK based public firm Worldlink Group Plc for the acquisition of Worldlink’s US subsidiary. Worldlink’s US subsidiary holds rights for the firm’s patented technology and platform.