TIDMXLM
RNS Number : 6828M
XLMedia PLC
23 September 2021
23 September 2021
XLMedia PLC
("XLMedia" or the "Group" or the "Company")
Acquisition of BlueClaw Media Limited
XLMedia (AIM: XLM), a leading global digital performance
publisher, is pleased to announce the acquisition of BlueClaw Media
Limited ("BlueClaw") for a total consideration of up to GBP1.8
million (the "Acquisition").
Founded in 2007, BlueClaw is a multi-award-winning agency based
in Leeds, providing services ranging from search engine
optimisation ("SEO") and pay per click ("PPC") management to
digital PR and content marketing, with significant experience in
the market verticals in which XLMedia operates.
XLMedia has been working with BlueClaw since December 2020
during which time the BlueClaw team has implemented new processes
and systems which have improved both performance and traffic across
a number of the Group's sites. The BlueClaw team has also developed
a number of proprietary tools and systems that underpin its
delivery track record.
The Acquisition provides a UK hub for XLMedia's European Sports
business, in addition to high-quality talent and automated workflow
capabilities, to drive consistent SEO operations and digital PR
best practices which will be applied across the Group's wider
portfolio.
For the remainder of this year BlueClaw will be working
autonomously, with responsibility for XLMedia's EU Sports business.
Thereafter, they it will become a shared service function for both
the Group's owned and operated assets and agency partners.
The Acquisition will be funded through existing cash resources
and is expected to be earnings accretive in the first full year of
ownership. XLMedia will pay GBP0.6 million on completion, with an
additional GBP0.6 million at the end of year one. There will be a
further GBP0.6 million payable as earnouts, contingent on certain
performance targets being met.
Fergus Clawson, owner and founder of the BlueClaw business will
remain with the business going forward. In the 12 months to 30
November 2021, which was heavily impacted by COVID, the business
had revenues of GBP1.1 million and EBITDA of GBP100,000. For the 12
months to 30 November 2022 the business is expected to contribute
revenues of GBP1.6 million and EBITDA of GBP400,000.
Stuart Simms, Chief Executive Officer of XLMedia, commented:
"We are delighted to announce the acquisition of BlueClaw, which
will see us bring this hugely talented team into the XLM family.
Having worked closely with them for over 12 months, we've been able
to experience first-hand the quality of their work and are hugely
excited at the prospect of BlueClaw's expertise being rolled out
across our broader portfolio.
"Today's announcement further demonstrates our commitment to
rebalancing the business with the correct skills, people and
technologies in order to create a sustainable platform capable of
delivering long-term growth."
For further information, please contact:
XLMedia plc ir@xlmedia.com
Stuart Simms, Chief Executive Officer via Vigo Consulting
Rowan Ellis, Interim Chief Financial
Officer
www.xlmedia.com
Vigo Consulting Tel: 020 7390 0233
Jeremy Garcia / Fiona Hetherington /
Kendall Hill
www.vigoconsulting.com
Cenkos Securities plc (Nomad and Joint Tel: 020 7397 8900
Broker)
Giles Balleny / Max Gould
www.cenkos.com
Berenberg (Joint Broker) Tel: 020 3207 7800
Mark Whitmore / James White / Tejas
Padalkar
www.berenberg.com
Notes:
XLMedia is a global digital performance publisher. Operating
across a variety of verticals including online gambling, personal
finance, sports and technology, the Group uses proprietary tools
and methodologies to identify and target high value clients for
platform operators.
XLMedia has a clear transformation strategy, which will enable
it to shape the future of the performance publishing industry. The
Company has set out a clear strategic agenda under two fundamental
priorities:
-- A balanced portfolio of online assets
o XLMedia seeks to create a balanced portfolio of websites to
cover a range of attractive geographies, both stable and
high-growth verticals and with greater exposure to regulated
markets. In doing so, the Company will focus particularly on
developing presence in North American sports, primarily through
targeted acquisition.
-- Branded, content-rich, engaging websites
o XLMedia will consolidate its online portfolio, concentrating
on a much smaller number of publishing assets, and focusing its
resources on optimising this core set of premium sites for its
chosen markets. These content-rich, engaging websites, underpinned
by intelligent market-leading technology, will seek to build
stronger lasting relationships with consumers and enhance
monetisation opportunities.
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END
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September 23, 2021 02:00 ET (06:00 GMT)
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