Fried Frank advised Future plc in connection with its acquisition of SmartBrief, Inc. for an initial sum of US$45 million. The total consideration could be up to US$65 million if SmartBrief meets certain financial targets over the next year. This includes US$32 million payable in cash on closing and an additional US$13 million in shares, as well as a deferred consideration of up to US$20 million if certain gross profit targets are achieved.
Future plc is a London-listed global multi-platform media company with a market capitalization of £1.1 billion. SmartBrief, Inc. is a digital marketing and B2B advertising provider of targeted publications and content services, and owns a database of more than 5.8 million subscribers.
The Fried Frank team was led by corporate partner Ian Lopez and included corporate partner Matthew Soran; intellectual property and technology partner Amir Ghavi; real estate partner Valerie Kelly; tax partner Michael Alter; corporate special counsel David McDonald; tax special counsel Will Gay; corporate associates Thomas Lee, Imran Sharih, and Christian Roberts; corporate real estate associate Anne Catherine Podolsky; intellectual property and technology associates Mina Reiman and Daniel Stern; tax associate David Federgrun.