Centaur Holdings plc1, the specialist business publishing and information company, today announces that it has acquired the outstanding 50% of Headlinemoney (HM), the online information service, taking its ownership of the business to 100%.
The HM business comprises an online subscription-based service, which enables companies to communicate with financial journalists, and an associated awards event. It carries announcements relating to the launch of new retail financial products. It has become an increasingly important source of information in view of the significant changes occurring within the personal finance market. HM was developed in 2002 by Centaur's financial services team in conjunction with Roger Anderson, a financial journalist and former editor of Money Marketing. Roger Anderson will continue to work closely with Centaur following the acquisition. In the year to 30 June 2005, HM achieved revenues of £0.7 million which generated an EBIT of £0.15 million after allocation of central corporate overheads.
Consideration of £0.75 million was paid on completion, with a further deferred payment of up to £0.55 million subject to HM's performance for the year to 30 June 2006. The acquisition is expected to make a modest positive contribution to Centaur's earnings in the current financial year.
Graham Sherren, Centaur's Chairman and CEO, said: "Roger Anderson has made an outstanding contribution to the successful establishment of HM as an important service to its users. I am delighted that he will continue to work with us in the future. I believe that Centaur will be able to continue to build on the success of HM within our Financial Division."
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