The acquisition will give Future the number one position in consumer tech publishing in the US, says the company. Purch has successfully grown its digitally-led business through titles such as Tom’s Guide, Tom’s Hardware and Top Ten Reviews. Bringing Purch’s brands and digital platforms into the Future business will further cement Future’s position as a growing, global platform for specialist media, says Future.
Future says that the acquisition will give it a market-leading US position and more diversified revenue sources going forwards. Purch’s cutting-edge technology will also help deliver on Future’s mission to be a tech and data-driven global platform.
According to Future, acquisition highlights & rationale are:
* Future proposes to acquire Purch’s consumer division in a deal worth £105.7m
* Purch is a next generation digital publishing and marketplace platform
* It’s leading consumer tech titles, such as Tom’s Guide, Tom’s Hardware and Top Ten Reviews, coupled with Techradar mean Future will be the largest consumer tech network in the US
* Purch’s ad technology, RAMP, compliments Future’s technology platform, opening up further opportunities for our partners
* Opportunity to significantly increase the scale of Futures science and knowledge divisions, through Purch’s titles such as Space.com and Live Science
Zillah Byng-Thorne, CEO of Future, commented: “Future’s mission to be a technology-enabled global platform for specialist media takes another big step forward today with this announcement. I’ve been impressed by the strength of Purch’s technology platforms and the expertise of its people. Together we can build a combined organisation that has scale and growth opportunities ahead.
The two businesses share similar cultures - we both share our audiences’ passion, we’re data-driven, ambitious and both have an innovative mindset. From day one Future will be number one in the US consumer technology sector, and beyond this we see clear opportunities for combined growth.
We have developed a strong track record in acquiring and integrating complementary businesses and this deal further accelerates our strategy for delivering growth both organically and through acquisition.”