Future completes on acquisition of flagship Dennis brands as part of expansion in wealth content vertical and in North America
Future plc, the global platform for specialist media, has completed on its acquisition of Dennis Publishing, adding leading Wealth, Knowledge and B2B Pro Technology specialist brands to its already top performing portfolio.
The move accelerates the realisation of Future’s growth strategy in the Wealth and Knowledge verticals and B2B lead generation, extends its reach in the US, and also adds a significant subscription conversion engine to strengthen platform capability.
Respected print and online brands including Kiplinger, MoneyWeek, The Week & IT Pro now join the organisation, which has already this year acquired GoCo Group and added MarieClaire.com.
Zillah Byng-Thorne, CEO of Future, said:
“I am delighted to welcome such a high-quality portfolio of trusted brands into Future. They will accelerate our strategy, enhance our content capabilities and bring additional geographical and vertical revenue diversification, whilst materially increasing the proportion of recurring revenues across the Group.
“This is highly complementary to our longstanding ‘US first’ mindset and provides an attractive opportunity to scale our recently created ‘Wealth’ vertical, whilst diversifying our presence in our ‘Knowledge’ and ‘B2B Pro Technology’ verticals.
“The ongoing successful execution of our strategy puts us on track to report another year of strong revenue and profit growth. I am confident that the acquisition of Dennis will help to accelerate our progress, and am delighted to welcome the team to Future. ”
Future also announced that Chief FInancial Officer Rachel Addison will stand down from her position with effect from 31 October 2021. Rachel was appointed CFO in June 2020, having joined the Group as part of the acquisition of TI Media, where she held the role of CFO. Since her appointment, Rachel has played an important role in Future’s significant growth and development during a period that has included the key acquisitions of TI Media and GoCo Group.
Rachel will be succeeded by Penny Ladkin-Brand, currently the Group’s Chief Strategy Officer. Prior to this, Penny was the Group’s CFO for five years.
Ahead of full-year results, confirmed it is on track for another year of strong growth driven by continued momentum in digital advertising with sustained yield growth more than offsetting the impact of strong comparators on audience growth. As a result, the Board expects full-year adjusted operating profit to be at the top end of expectations, following July’s upgraded forecast for the year.
Over the last five years, it has acquired assets worth £1.1bn and increased its underlying business by more than £2bn.
The brands being acquired are:
- The Week / The Week US
- The Week Junior / The Week Junior US
- Money Week
- Science & Nature
- IT Pro
- Computer Active
- PC Pro
- Minecraft World