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EMAP acquires Yospace
London - UK - Feb. 02, 2007
London, UK – 2 February 2007: Emap plc (EMA.L) today announces that Emap Consumer Media has acquired Yospace Technologies Ltd (Yospace), a mobile user-generated content business, from The Parkmead Group and private investors for a consideration of £8.7 million in cash. Further deferred consideration of up to £5.7 million is payable depending on Yospace’s operating performance over the period to 31 March 2010. The business will sit within Emap Performance, the digital media arm of Emap’s consumer media division. The acquisition is consistent with the Group’s plan to accelerate its digital reach and capability.
Yospace is a technology and new media business which has developed the UK’s leading mobile video-based, user-generated community platform. Yospace’s products include the “See me TV” and “LookAtMe!” services and its customers include the major mobile network operators in the UK. The acquisition of Yospace brings Emap a market leading position in mobile user-generated content, digital technology capabilities and a talented management team. For the year to 31 December 2005, Yospace made a loss of £480,000.
Commenting on the acquisition, Paul Keenan, Chief Executive of Emap Consumer Media, said:
“The acquisition of Yospace is another step in our strategy of focussing resources onto faster growth digital platforms and reflects our commitment to innovation be it in magazines, radio, TV or digital businesses. Coupled with Emap’s marketing reach, brands, content and industry relationships, this acquisition will enable us to move forward in the fast emerging mobile user-generated and video content market.”
enquiries:
Emap plc: 020-7278-1452
Paul Keenan, Chief Executive, Emap Consumer Media
Catherine Nash, Investor Relations Director
Brunswick Group: 020-7404-5959
Patrick Handley
Fiona Laffan
About Emap Performance
Emap Performance is the consumer-facing digital arm of Emap Consumer Media, the consumer media division of Emap plc. It comprises Emap TV (The Box, Q, Smash Hits, Kiss, Magic, Kerrang! and The Hits); Emap Mobile (FHM, heat, Empire and ZOO) and Emap Internet (e.g. FHM.com, ZOOweekly.co.uk, Mojo4music.com, Smashhits.net, Kerrang.com, totalkiss.com, magic.co.uk, motorcyclenews.com and Closerdiets.com).
About Yospace
Founded in 1999, based in Staines and employing 26 staff, Yospace is the UK’s leader and pioneer in mobile user-generated content and is responsible for the UK's leading "See me TV" service on 3 and the user-generated community "LookAtMe!" brand launched with O2 in 2006. The business is a mobile software and applications company whose activities are split into (i) user-generated content; (ii) the provision of a multi-media messaging solution to a major mobile operator; and (iii) a mobile emulation business for call centres.
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