Future PLC Buys Dennis From Exponent Private Equity for $416m

Future PLC acquired Dennis, a consumer media company that publishes titles including Kiplinger, MoneyWeek, The Week and IT Pro, from Exponent Private Equity LLP for around £300m in cash.

Future, a U.K. media group that houses brands like Marie Claire, TechRadar and GoCompare, said the deal will 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 for Future in the first full year of ownership, with expected cost synergies of £5m a year by fiscal 2023, the buyer said. Future said the deal is being funded via its debt facility, which was increased to £600m last month.