Deal will help ramp up GD’s media sector expertise and data
Broadcast’s owner Media Business Insight has been acquired by the UK stock market listed company GlobalData Plc in a move that will help accelerate growth and build out new products and services from MBI’s leading brands in the TV, Film and marketing sectors.
MBI’s brands including Broadcast, Screen International, The Media Production and Technology Show, ALF, The Knowledge and KFTV, will join GlobalData group, one of the world’s fastest growing information and insight businesses.
GlobalData has offices in 20 markets around the world, employs more than 3500 staff and provides data, insight and intelligence to businesses and client covering a wide range of industry sectors including construction, energy, healthcare, agriculture and sport.
MBI’s market-leading information and intelligence brands will continue to provide their core services but form the cornerstone of a new Media and Entertainment intelligence offering within the GlobalData business. The move will also support further development of MBI’s own intelligence services including Broadcast Intelligence, ALF and Production Intelligence.
Mike Danson, GlobalData’s chief executive officer said: “From GlobalData’s point of view, MBI is an excellent strategic fit, it brings new and unique gold standard data sets across the film, TV and media markets to GlobalData.
The addition of deep media sector intelligence and related services to GlobalData’s suite of offerings, will provide both current and prospective clients with access to a more comprehensive range of industry expertise.
Expanding MBI’s offerings through GlobalData’s single platform can become a real force in the global film, TV and media marketplace, offering something unique to the sector.”
MBI employs 85 staff across its brands in offices in London and LA, who will now join the GlobalData group.
Media Business Insight was created by an MBO from the Ascential group led by Conor Dignam and Alison Pitchford in 2014 and backed by Mobeus Equity Partners VCT investors.
MBI owns a range of news, intelligence and information brands focussed on the media and marketing sectors including Broadcast, Screen International, ALF Insight, The Media Production and Technology Show, along with data and intelligence brands including Broadcast Intelligence, The Knowledge, Production Intelligence, KFTV and a group of leading industry awards including the Broadcast Awards, Broadcast Sport Awards and Screen Awards. It recently acquired the Rapid TV News brand.
Both Dignam and Pitchford will remain with the business under its new ownership.
Dignam said: “We are delighted to be joining the GlobalData business. Both culturally and strategically it’s an excellent fit for MBI. It’s a move that will create exciting opportunities for our brands, our people, and our customers.
“As part of GlobalData we will benefit from best-in-class technology and product development. The GD business already has impressive information and data about the media sector and combined with our specialist information and insight, we believe we’ll be able to offer something or unique value to the market.”
Gresham House, the owner of Mobeus VCT’s funds, will exit its investment in MBI as part of the sale.
Bob Henry, Portfolio Director at Gresham House, who has sat on the MBI board, said: “Our investment and the quality of MBI’s team has enabled the business to transform its operations to fit an increasingly online media and events landscape and perform strongly through the uncertainty of the pandemic. The sale of our stake is a positive outcome for all parties.”