Future on Monday said it had bought consumer media company Dennis for around £300m in cash from Exponent Private Equity.
Dennis publishes titles including Kiplinger, MoneyWeek, The Week and IT Pro. Future’s stable includes the Marie Claire, TechRadar and GoCompare titles.
Future said the deal would extend its reach in North America, diversify its revenue mix by increasing its subscription revenue and expand its presence in the wealth, technology and knowledge segments.
The acquisition is expected to be materially earnings enhancing in the first full year of ownership, with expected cost synergies of £5m a year by fiscal 2023, Future said.
Four Dennis titles, Viz, Fortean Times, Cyclist and Expert Reviews, will be retained by the vendors, it added.
