QMS completes the acquisition of TLA Australia
After entering into an agreement four weeks ago, QMS Media has completed its acquisition of TLA Australia.
The announcement:
QMS MEDIA COMPLETES THE ACQUISITION OF TLA AUSTRALIA
QMS Media Limited (ASX:QMS) (QMS or the Company) is pleased to announce that it has completed the acquisition of TLA Worldwide (Aust) Pty Ltd and TLA – ESP Limited (UK) (together, TLA) and anticipates completing the acquisition of Stride Sports Management Holdings Pty Ltd (Stride) next week.
QMS Media Group CEO and Managing Director, Barclay Nettlefold, said: “The completion of the acquisition of TLA forms a key component of our vision to develop QMS Sport as a global integrated sports platform with a unique multi-channel strategy across technology, infrastructure, media rights, events, talent management and merchandise.
“Sport with its superior advertising appeal is one of the largest and highest growth segments in the market and represents a significant growth opportunity for QMS. Our multi-channel strategy enables advertisers to capture the full value of the sports ecosystem leading up to, during and post, in-stadia sporting events through our expanding global integrated sports platform.
“We are well-positioned to drive significant growth from the expanded global sports platform. Looking forward we will continue to assess compelling consolidation opportunities that further enhance this platform and meet our strategic and financial objectives.”
The new expanded entity will see current TLA CEO, Craig Kelly become CEO of QMS Sport Australia, supported by QMS’ existing senior executive team across sports media.
Craig Kelly said “Becoming part of a global integrated sports platform, that will lead the way both locally and internationally to capitalise on the continued growth of the sports sector, is incredibly exciting for our team. We share a passion and determination to deliver a highly engaged sporting audience to our clients across multiple channels and look forward to the opportunities the newly expanded QMS Sport business will provide.”
On a 12 month pro-forma basis the TLA and Stride acquisitions are together expected to contribute CY2019 EBITDA of approximately $6.0 million, pre synergies. Synergies of $1-2 million are expected to be realised before the end of CY2020.
Source: QMS ASX release
