Future has agreed terms to acquire Miura (Holdings) Ltd, the holding company and ultimate parent company of Imagine Publishing Limited for a total consideration of some 179 million new Future shares (the ‘Consideration Shares’), representing £14.2m*.
Following the acquisition of Noble House Media in April and Blaze Publishing’s magazines, websites and events in May, this is a further substantial step in Future’s strategy of creating content that connects, increasing scale and improving operational efficiency.
Based in Bournemouth, Imagine was formed in 2005. It has grown to boast a portfolio of 19 periodical magazines and 300 bookazines across the Games, Tech, Creative, History and Science verticals. It also has a strong licensing, web and digital edition business.
Imagines brands include amongst others 3D Artist, Digital Photographer, Gadget, Retro Gamer, How It Works, and SciFiNow.
Zillah Byng-Thorne, Future plc Chief Executive said, “This is a unique opportunity to acquire a market leading knowledge, science and technology content business which will complement and expand our capabilities.
“Imagine has an impressive reputation with 19 periodical magazines and is a world leader in bookazines. The acquisition will enable us to scale significantly our market position in bookazines and will see us enter the knowledge vertical, broadening our reach.
“The addition of Imagine with its strong management team and quality staff enables us to take a further substantial step towards our strategy of creating content that connects, increasing scale and improving operational efficiency.”
* Pending final shareholder approval and getting agreement from the Competition and Markets Authority (CMA).