DODS – Proposed Placing to raise £11.0 million and aquire DeHavilland Political Intelligence division of Emap Ltd

DODS – Proposed Placing to raise £11.0 million and aquire DeHavilland Political Intelligence division of Emap Ltd

Dods, the AIM-listed supplier of political intelligence and training services, announces that the Company has conditionally agreed to acquire the business and certain assets of the DeHavilland Political Intelligence division of Emap Limited.

Highlights

  • Transformational acquisition, enabling the Group to enhance its political intelligence services offering
  • Consideration £12.8 million in cash
  • Significant identifiable synergies, as well as potential cross-selling opportunities and benefits to customers
  • Increase in revenues derived from subscription and digital based services and further proportional decline in dependence on magazine advertising
  • Placing of 200,000,000 New Ordinary Shares to raise £11.0 million (before expenses) to fund consideration and acquisition strategy, including up to 111,421,556 New Ordinary Shares with Lord Ashcroft KCMG, resulting in his holding up to 42.9 per cent. of the Enlarged Share Capital of the Company

Commenting on the acquisition Gerry Murray, Chief Executive Officer, said: "This acquisition is an excellent fit with our strategic development in digital information, further growing our digital subscriptions business.

DeHavilland comes with a high reputation for customer service and quality of information and will provide an ideal enhancement to our existing product portfolio.

The integration of this business with Dods' Monitoring will provide significant service improvements for all of the combined businesses' clients."

No Comments

Post a Comment