Fried Frank represented Ascential plc (“Ascential”) in its acquisition of global digital subscription business, WARC Limited (“WARC”). The acquisition, which is expected to complete on July 2, 2018, involved the entire share capital of WARC for an initial cash consideration of £19.5m, plus deferred consideration of £4.5m payable in 2018.
It has also been announced that WARC will join Cannes Lions' new digital offering, The Work, to form a scaled digital subscription product.
WARC is a marketing intelligence service that assists brands, agencies, and media platforms in assessing marketing efficiency. This business reinforces Ascential's digital product offering within the marketing space.
The Fried Frank team was led by corporate partner Dan Oates and included corporate associate Alyss Mantel.