Sometimes we need to get a bit meta when it comes to the subject of Android. Yesterday Future plc, the company behind media outlets including Tom's Guide, Anandtech, PC Gamer, and TechRadar, announced that it had purchased Mobile Nations for a cool $60 million. That purchase includes Android Central, Windows Central, and Thrifter.
The purchase is to be paid in cash ($55 million) and Future plc stock ($5 million). The terms of the acquisition further state that an additional $60 million could be paid if specific targets are reached by the acquired properties by the end of March 2020. Mobile Nations earned a revenue of $16.4 million for the year of 2018 and an EBITDA (earnings before interest, tax, depreciation, and amortization) of $8.2 million, an increase of 31% and 52% year over year, respectively.
Future plc owns over 120 sites, magazines, and media brands.
Future plc CEO Zillah Bying-Thorne is confident the acquisition will represent a good diversification for the company revenue sources, as well as a compliment to its existing portfolio. "We already have an established commercial relationship with Mobile Nations through its longstanding partnership with Purch, which we acquired in September 2018. The addition of Mobile Nations' brands will deepen our presence and expand our opportunities to monetise our significant US online audience."
When news of the acquisition was released yesterday, Future plc's stock (FUTR) jumped dramatically in after-hours trading from around $9.07 (686 GBX) per share up to ~$10 (756 GBX) at the time of writing, a rise of over 10%.
- Investis Digital