14th Dec 2011 07:00
14th December, 2011
Daily Mail and General Trust plc (`DMGT') Continuing portfolio management
As part of its continuing drive to improve its portfolio, DMGT is pleased to announce the following two transactions.
Hobsons, the dmg::information business serving the education sector, has completed the acquisition of Intelliworks for consideration of US $13 million (£8 million). Intelliworks, based in the U.S., is a leading provider of relationship management solutions for higher education and complements Hobsons' existing enrolment management solutions. In the year ended 30th September, 2011, Intelliworks generated revenues of $5 million.
Separately, A&N Media, the consumer media division of DMGT, has reached agreement in principle to sell a majority stake in Teletext to its management who will assume day-to-day operating control of the business. In the year ended 2nd October, 2011, Teletext generated revenues of £11 million and incurred a small loss.
Investor enquiries:
Stephen Daintith, Finance Director, DMGT 020 7938 6631
Media enquiries:
Susanna Voyle/James Macey White, Tulchan Communications 020 7353 4200
Daily Mail and General Trust plc Northcliffe House, 2 Derry Street, London, W8 5TT Tel 020 7938 6000 Fax 020 7938 4626 www.dmgt.co.uk Registered in England and Wales No. 184594 For public release at 7am on 14th December, 2011
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