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Future plc (LSE: FUTR, “the Group” or “Future”), the international media group and leading digital business, has agreed terms to acquire Miura (Holdings) Ltd, the holding company and ultimate parent company of Imagine Publishing Limited (‘Imagine Publishing’) (the ‘Acquisition’) for a total consideration of 179,567,841 new Future shares (the ‘Consideration Shares’), which at Future’s closing share price on 22 June 2016 represents a consideration of £14.2m.
The Acquisition of Imagine is a further substantial step in Future’s strategy of creating content that connects, increasing scale and improving operational efficiency.
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.”
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