UTV Media plc
6 March 2012
UTV Media plc
("UTV" or the "Company")
Acquisition of Simply Zesty Limited
UTV Media plc (`UTV' or `The Company') is pleased to announce that it has
entered into an agreement to acquire 100% of the issued share capital of Simply
Zesty Limited ('Simply Zesty').
The initial consideration is £1.7 million, which is being satisfied from the
Company's existing banking facilities, with further tranches of deferred
consideration totalling a maximum of approximately £5 million, payable
depending upon Simply Zesty's future trading performance. The initial
consideration equates to four times the anticipated 2012 EBITDA.
UTV is acquiring the business from Simply Zesty's shareholders, including the
founders of the business, Niall Harbison and Lauren Fisher, and the independent
market research company, SPA Future Thinking. Following completion the founders
will continue to develop Simply Zesty as part of UTV's New Media division.
Simply Zesty's clients include blue chip brands such as Sony, Vodafone,
Volkswagen Group, News International and ebookers.com.
Simply Zesty was set up in 2009 and employs 22 staff at its Dublin offices and
specialises in providing social media marketing services to assist businesses
in creating innovative social media campaigns. Simply Zesty is also building
its international presence, which now represents more than 15% of revenues and
is growing strongly.
John McCann, Group Chief Executive, UTV Media plc says:
"The acquisition of Simply Zesty is part of our strategy to create a
diversified multi-media business.
"Simply Zesty is a very successful Irish business with an international
presence in the fast-growing social media sector. This acquisition strengthens
our existing New Media division and adds further impetus to our multi-media
"The social media presence of UTV Media's radio and television stations in the
UK and Ireland will also be enhanced by the acquisition of Simply Zesty,
facilitating far greater integration of media across online and broadcast
"We welcome to UTV the Simply Zesty team, headed up by CEO Ken Fitzpatrick and
founders Niall Harbison and Lauren Fisher."
Ken Fitzpatrick, CEO of Simply Zesty, said:
"We at Simply Zesty are delighted to be part of the UTV Media Group. Simply
Zesty has grown strongly as a social media marketing agency since its
foundation, thanks to our great staff and clients - both Irish and
International. As part of UTV, we hope to develop our existing brand and
business model at an accelerated pace."
Nigel Robbins, Group Commercial Director, UTV Media plc said:
"It is the team at Simply Zesty that we are buying into, and the same creative
flair and entrepreneurial spirit that got them where they are today will propel
Simply Zesty onwards as they build on an impressive domestic and international
client base, and integrate across our Radio, TV and New Media divisions.
"Simply Zesty's well-proven social media expertise will ensure that advertising
clients across UTV, whose campaigns require the most effective multiplatform
spread, will continue to be extremely well served."
UTV Media is one of the most successful media companies in the UK and Ireland
incorporating Radio, Television, New Media and Publishing.
For further information contact:
UTV Media plc
Group Chief Executive
+44 (0) 28 9026 2202
Group Finance Director
+44 (0) 28 9026 2098
Head of Communications
+44 (0) 28 9026 2188
Tom Buchanan / Rowan Brown
+44 (0) 20 7379 5151