Thursday, September 21, 2006

Weller Rings Till and Banks Apax Money

Incisive Media are going private with the backing of Apax. The offer is a significant premium on yesterdays share price vlauing the business at close to £200m. A no brainer for Incisive shareholders. Incisive have struggled to maintian momentum with more growth predciated on deals rather than organic growth. It is hard to see where the growth will come from unless they buy and become the business media aggregator that CEO Tim Weller has always wanted to be. Incisive alos published their interim results today which we will have a look at. Management are I am told leaving some of their gains in the business but noentheless this looks like a smart move from Weller who privately may be thinking that future growth may be hard to come by. With this deal Apax take the risk. Weller has come long way since being a grubby rep on defunct VNU mag Datalink and his job on the Matrix (see pic)

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