Perform Group, the FTSE 250 digital media firm specialising in sports content, has announced two separate investments which will see it take full control of two online sports firms.
Firstly, Perform says it has acquired the remaining stake in Dutch company Global Sport Media (GSM) BV in a deal worth €4.3m.
This transaction relates to an option to acquire a 49% stake in firm which was agreed on when the initial 51% interest was acquired in January 2009. GSM owns and rungs soccerway.com, a football information website.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"We are delighted to have completed the acquisition of GSM and look forward to continuing its growth in the sports data and sports website fields," said Perform Chief Executive Officer Oliver Slipper.
Secondly, Perform said it is to take full control of WatchandTrade Ltd for an £0.55m initial cash consideration.
Perform will acquire a further 40% stake in the WatchandTrade, the live sports video content company, following the 60% interest it acquired in January 2010. There is a maximum deferred cash consideration of £5.85m payable but this is dependent on WatchandTrade's earnings results for 2011, 2012 and 2013.
"We are delighted to have completed the acquisition of WatchandTrade and we look forward to continuing its successful growth," Slipper said.
BC
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
