Ascential H1 profits rise; Buys 35% stake in Avast Jumpshot unit
By Frank Prenesti
Date: Monday 22 Jul 2019
(Sharecast News) - First half pre-tax profits at information company Ascential rose to £30.5m from £23.1m as revenue increased 25% to £236m.
The company said it was trading in line with expectations for the full year, adding that it was confident of delivering its medium-term target to achieve double-digit growth.
Ascential, formerly known as Emap, also said it had bought an initial 35% interest in cybersecurity provider Avast's marketing analysis unit Jumpshot for $60.8m.
The company said the deal also included an option to take a majority ownership position in Jumpshot no sooner than January 2021. Ascential, Jumpshot and Avast would also enter a deal granting a put and call option over an extra 16% of Jumpshot's shares.
The deal is conditional on German antitrust approval. The total amount payable by Ascential for the two tranches would not exceed £300m, Ascential said, in a separate statement with the deal to close at the end of August 2019.
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