Acquisition of iMedia Communications
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Friday 30 September 2005
dmg world media, the exhibitions division of DMGT, has announced the acquisition of iMedia Communications Inc. (“iMedia”). iMedia publishes the iMedia Connection website and newsletters and produces five industry summits a year aimed at the digital marketing industry. The next summit will be held from 4th to 7th December, 2005 in La Quinta, California.
This transaction follows dmg world media's purchase in January this year of the Ad:Tech series of exhibitions, also for the digital marketing industry.
The total cost is estimated to be US$12.0 million (£6.8 million), including an initial payment of $6.15 million (£3.4 million) and a further payment in 2007, based on the performance of the business in 2006.
We expect the acquisition to be earnings enhancing before amortisation in the coming year.
Enquiries
Ben Brougham, Business Development Director, dmg world media
020 8515 2163
Peter Williams, Finance Director, DMGT
020 7938 6631