Acquisition
Ten Alps PLC
18 June 2007
Press Release 18 June 2007
Ten Alps plc
('Ten Alps' or the 'Group')
Acquisition of factual content and consultancy business DBDA
Ten Alps Plc, the factual media company, announces the acquisition of factual
content business DBDA.
The maximum consideration payable is £3.3m. The multiple paid on the
acquisition, including an earnout, is 3.75 times EBIT (earnings before interest
and taxation). DBDA's adjusted 2006 EBIT was approximately £370,000, on
revenues of £2.6m.
£1m was paid upfront for net assets of £300,000, with a £ for £ adjustment on
net assets on agreement of the completion accounts. Further payment will be
made on an earnout of a maximum of £2.3m on EBIT of £2.4m over 2.5 years. The
threshold for the earnout begins at £400,000 EBIT. The acquisition was funded
by debt.
DBDA, based in London, provides specialist content production and consultancy
services across sectors in which Ten Alps already has key positions -
particularly education, safety, and community-based markets. The acquisition of
DBDA will strengthen the Group's operations across these sectors and will
enhance the development of a dedicated corporate social responsibility
programming arm to Ten Alps' TV production companies. There is also an
opportunity to market other Group services such as events - offering additional
opportunities from the DBDA client base.
DBDA has worked with commercial clients such as Aviva, BMW, BP, Zurich and Marks
and Spencer. Public sector clients include TfL (Transport for London), various
government departments including Home Office, Health, Education & Transport,
Road Safety Scotland, Scottish Executive, Welsh Assembly, and a number of local
authorities.
DBDA Managing Director, Dawn Boyfield has agreed a minimum two and a half year
service contract and brings with her 25 staff.
Alex Connock, Chief Executive of Ten Alps Plc, said:
'Dawn Boyfield spotted impressively early that corporate social responsibility
would become a major area for large companies. She has built a great business
and a talented team around providing bespoke solutions for her blue-chip clients
and we are looking forward to working together.'
- Ends -
For further information, please contact:
Ten Alps plc
Alex Connock, CEO Tel: +44 (0) 20 7878 2311
c/o Moira McManus
www.tenalps.com
Collins Stewart, Nominated Adviser
Chris Wells / Mark Connelly Tel: +44 (0) 20 7523 8350
www.collins-stewart.com
Media enquiries:
Abchurch Communications
Heather Salmond / Gareth Mead / Joanne Shears Tel: +44 (0) 20 7398 7700
Joanne.shears@abchurch-group.com www.abchurch-group.com
Notes to Editors
Ten Alps is a factual media company providing content for TV, radio, online TV
and print, plus managing related commercial opportunities.
Ten Alps targets content to every outlet that audiences, customers and
advertisers engage with - making it entirely cross-platform.
This year Ten Alps is producing over 500 publications and scores of TV and radio
programmes. It has invested in and launched 12 online TV channels.
Ten Alps' strategy is to migrate specialist media to online TV, retaining
consumers on both sides of the online-offline divide as choice widens and
audiences fragment.
Growth has come through strategic acquisitions and cross selling between media
channels. When Ten Alps launched on AiM in 2001 it had revenues of under £2m
and 10 staff. It now employs over 530 people in three divisions: broadcast,
digital and communications, and analyst forecasts expect the Group to announce
2006-7 revenues above £65m.
With headquarters in London, Ten Alps also has major offices in the North-West
and Scotland.
This information is provided by RNS
The company news service from the London Stock Exchange
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