Imagine has a portfolio of 19 scientific and technology magazines
The London-listed media group Future has agreed to acquire Imagine Publishing in an all-share deal worth just over £14m (US$20.6m).
Imagine has a portfolio of 19 scientific and technology magazines as well as a significant presence in the bookazine market and a complementary online operation. It is expected to report earnings before interest, taxation, depreciation, and amortisation (ebitda) of £3.1m on revenues of £16.4m for the year to the end of March.
Under the tems of the deal, Future will acquire Imagine’s holding company for 179,567,841 of its own shares, which are worth £14.2m based on its closing price yesterday. The transaction will leave the Imagine shareholders with a 32.8% interest in the enlarged company.
Future chief executive Zillah Byng-Thorne said the acquisition would broaden the range of the company’s offering and enable it to “scale significantly” its position in the market for bookazines.
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