Future PLC Acquisition of Next Commerce (2611H)
16 August 2016 - 4:01PM
UK Regulatory
TIDMFUTR
RNS Number : 2611H
Future PLC
16 August 2016
16 August 2016
Future plc
Future acquires Australia and SE Asian digital shopping
comparison business
Future plc (LSE: FUTR, "the Group" or "Future"), the
international media group and leading digital business, has
acquired Next Commerce Pty Ltd ("Next Commerce"), a digital
shopping comparison business with operations in Australia and
across South East Asia, for an undisclosed cash consideration.
Future has rapidly growing e-commerce revenues in its UK and US
businesses. This acquisition will enable Future to accelerate its
growth in this region by leveraging its leading online media brands
such as techradar.com, gamesradar.com and pcgamer.com.
Next Commerce, which has revenue for year ended 30 June 2016 of
AUS$3.3million (GBP1.9million), operates the getprice.com.au and
pricepanda.com comparison shopping websites across the Australia
and South East Asia markets.
getprice.com.au, originally founded in 2005, is Australia's
largest shopping comparison site with over 1,200 retailers using
the site and over 2.8 million products listed. pricepanda.com was
launched in Singapore in 2012 and now has sites in five countries
and lists over 5.8 million products.
Zillah Byng-Thorne, Future Chief Executive, commented:
"This acquisition further diversifies our revenue, an important
element of our strategy. It will also strengthen our presence in
e-commerce, which is increasingly becoming a key part of our
business.
"Over the last two years, we have demonstrated the significant
value that can be created through combining high-quality content
that connects with a consumer focussed e-commerce offering.
"We see good opportunities to grow by working closely with Next
Commerce, who have developed market-leading e-commerce technology
and practices for retailers, publishers and consumers in the fast
growing Australian and SE Asian markets."
Future plc 01225 442 244
Zillah Byng-Thorne, Chief
Executive Officer
Penny Ladkin-Brand, Chief
Financial Officer
Instinctif Partners 020 7457 2020
Adrian Duffield/Lauren Foster
About Future:
Future plc is an international media group and leading digital
business, listed on the London Stock Exchange (symbol: FUTR).
Future has operations in the UK, US and Australia creating
publications, apps, websites and events.
Future holds market-leading positions in Technology, Games,
Music, Film, Photography and the Creative & Design sector.
Future attracts more than 50 million monthly users globally to our
websites, which include techradar.com, GamesRadar.com and
musicradar.com.
Future sold more than 14 million magazines last year. Our most
well-known brands include T3, Total Film, Edge, MacFormat and Xbox:
The Official Magazine.
Future, and its portfolio, reaches over 15 million people on
social media. Future has over 200 licensing & syndication
agreements in 89 countries worldwide, and exports over 55
titles.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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August 16, 2016 02:01 ET (06:01 GMT)
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