Deal summary
Futuremedia, e-learning content and services provider, acquired The Button Group, a design and brand communications agency
- The purchase price for the acquisition was GBP 5.3 million ($9.9 million), consisting of a combination of cash GBP 2.3 million ($4.3 million) and ADSs valued at GBP 3 million ($5.6 million) issued at the share closing price on May 25, 2006
- The acquisition of The Button Group provided a complimentary skill set while broadening product offerings with a wide array of online and physical design and communications services
About Futuremedia
Futuremedia is a leading provider of next-generation, value-driven e-learning content and services to public and private sector organizations. Backed by two decades of experience, the Company's content and services offerings include learning consultancy, Learning Management Systems, custom made learning programs and an extensive library of published courseware titles. The Company is also recognized as a pioneer and leader in the development and delivery of a range of fully managed, outsourced employee benefit programs for large organizations, including products and services falling under the UK's Home Computing Initiative (HCI), childcare voucher system and tax-free bicycle programs.
About Button Group PLC
Button was an integrated design and brand communications agency providing strategic marketing solutions to blue chip European and US companies. Headquartered in London, Button was established in 1972 and had offices in Los Angeles and Cannes. The company offered consumer marketing, business-to-business marketing, internal communications, exhibition design, corporate events and marketing services. Button brought a strong client group across many industries with particular strength in the media, telecommunications and financial services sectors. Major clients included NBC Universal, CBS Paramount and Hitachi. Button was the technical services provider for the 3GSM World Congress in Barcelona where it also designed and built 35 exhibition environments for clients. The company had a strong presence at the Cannes markets and festivals, including the MIP television markets, the Cannes Film Festival, the Lions Advertising Festival and the MIPIM international real estate marketplace.
"This is an exceptional combination from both strategic and financial Standpoints… With the addition of Button we are adding one of the leading branded communications businesses in the United Kingdom. We are focused on developing our branded learning capabilities to become a leader in next generation online brand and product communications. The addition of Button provides us with a complimentary skill set while broadening our product offering with a wide array of online and physical design and communications services. We will be well positioned to grow our market share in this rapidly expanding segment of the marketing and media industries"
