The Italian company Digital360 is the new owner of the publishing group Business Publications Spain (BPS), a Spanish group that publishes publications specializing in technological information, with titles such as Computing, RedesTelecom, Channel Partner, TIC Pymes, Data Center Market and the ISV Guide, among others. reference publications in the sector. The Italian company, which is listed on Euronext Growth Milan, is committed to disbursing more than 1.54 million euros, in addition to maintaining the current management of the publisher, led by Tita López.
According to Digital360 in a statement on the Milan stock exchange, the operation includes the acquisition of 70% of the shares of the Spanish company, valued at 1.19 million euros. Of this amount, 790,000 euros have been paid in cash, while the remaining 400,000 euros will be paid, also in cash, in June 2023.
Digital360 Iberia has also agreed acquire the remaining 30% of the Spanish publisher, for an amount of 357,000 euros, in two tranches. The first of them, for 15%, will be transferred after the approval of the BPS financial statements for the year ending December 31, 2023, while the remaining 15% will change hands after the approval of the closing accounts. of 2024.
In the Digital360 statement it is noted that for each of the two assignments (second and third closing), the price has been determined at a value equal to the greater of the following amounts: the sum of 255,000 euros and 15% of the value of the company, calculated as a multiple of the ebitda of the last closed balance sheet. In the last and definitive sale of the 15%, with which it completes 100% of the capital, Digital360 has reserved the right to pay the price entirely with its own shares, subject to a one-year lock-up period.
According to the same sources, The Spanish group BPS closed its 2021 financial statements with 1.4 million euros in revenue and approximately 0.25 million euros of ebitda. In addition to print and online headers, the group carries out tailored events, digital magazines, websites, webinars, surveys, video design and editing, as well as lead generation, market analysis and social networks, as explained by BPS in its corporate page.
In the aforementioned Digital360 statement it is explained that “the agreement between the parties establishes, among other stipulations, that three of the current and largest selling shareholders of BPS may appoint two of the five members of the board of directors, confirming as of now the position of CEO to Anunciación (Tita) López García, CEO of BPS and seller of 38% of the company’s shares”. This decision allows, according to the Digital360 statement, “a system of continuity with respect to the current management, which facilitates integration and synergies with the group“.
As part of the agreements related to the acquisition, each of the sellers undertook not to carry out, even indirectly, activities that compete with those carried out by the Company for a period of three years from the first closing.
Andrea Rangone, president of Digital360, has assured in the statement to the Milanese stock exchange “that the innovative model developed in recent years in the Italian market, strongly based on technology and data content assets, also can be successfully reproduced in the Spanish market, which is similar to the Italian market in many respects”.