By Dipo Olowookere
Global business-to-business media company listed on the London Stock Exchange (LSE), Ascential Plc, has announced the 100 percent acquisition of US-based advisory and business services firm, MediaLink.
A private company, MediaLink is a business that drives competitive advantage through advisory business services for a wide range of companies spanning early stage to established global entities across the media, marketing, advertising, entertainment and technology industries.
Chief Executive Officer of Ascential, Duncan Painter, noted that, “MediaLink is a leader in its industry, with a strong and very visible brand presence in the U.S.
“MediaLink is an excellent fit with our existing Ascential offering and I am confident we can help accelerate MediaLink’s business into new markets by using our assets and infrastructure over the coming months and years.
“I see synergies between MediaLink and our portfolio of products to significantly help accelerate our existing businesses and create additional value for shareholders.”
Founded in 2003 by Chairman and CEO Michael Kassan, MediaLink employs over 120 people in the US.
The company will further strengthen and accelerate Ascential’s business strategy, which is to own scaled, global, market-leading businesses and brands in marketplaces where it offers trusted information and valuable connections to business professionals.
Michael Kassan, Chairman and CEO of MediaLink commented: “This is a transformational moment for MediaLink. Propelled by the global footprint of Ascential and the combined resources and talent of our organisations, we are going to write the greatest chapter in MediaLink history. We look forward to collaborating to pursue growth and new opportunities for both companies.”
Kassan will continue as Chairman and CEO of MediaLink, working closely with Painter to integrate and accelerate the business, leveraging Ascential’s assets and infrastructure over the coming months and years.
MediaLink has worked with Cannes Lions’ customers since 2011. Neutrality is a key focus of both businesses, and they will be run independently. MediaLink will continue to build on its relationship with Cannes Lions and start new ones with other Ascential products where appropriate.
The transaction is expected to complete, subject to customary U.S. regulatory clearance, within the next month and, upon completion MediaLink will form part of Ascential’s Information Services division. Aryeh Bourkoff’s LionTree Advisors acted as financial advisors to MediaLink with LionTree Partner Ben Braun serving as principal advisor.
